Guangdian Capital ("GDC") Backed Mountain Top Receives Investment from China's Tech Giant ByteDance

BEIJING,April 24,2019 -- In March 2019,China's tech giant ByteDance hasinvested in Mountain Top,a leading talent agency in China. The previous funding round of Mountain Top was led by Guangdian Capital ("GDC"),which has invested RMB 100 million in the company back in 2016. GDC has also played an important role to assist its portfolio in closing the recent transaction.

Founded in 2015,Mountain Top is a market leader with strong differentiation by both managing actors,singers,and idols,and incubating key opinion leaders (KOLs). The Beijing-based company represents more than 40 artists,including some of the China's most well-known A-list celebrities such as Angelababy and Zhou Dongyu. Its multi-channel network (MCN) segment has incubated 120 influential KOLs such as Papi Jiang,who has more than 30 million followers on Bytedance's short video app Douyin (aka TikTok).

Mountain Top's previous investors include Guangdian Capital ("GDC") and ZhenFund. GDC has invested and overseen the growth of the company since 2016.

GDC is a China-based private equity firm focused on growth stage value investing in the lifestyle transformation of China's new generation,and has partnered with China's leading fund of funds,state-owned enterprises,and government guidance funds.GDC was named China's Top 10 Emerging PE Firms of 2018 by China Venture. Zack Fu,a co-founder of GDC and an ex-investment professional of CVC Capital Partners,was recognized by Forbes Chinaas one of the China's 100 Best Venture Capitalists in both 2017 and 2018.