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BlueFive Capital, the Abu Dhabi-based investment platform, has co-led a near $3 billion funding round for Chinese artificial intelligence video generation firm Kling AI, valuing the company at $18 billion.
The round was jointly co-led by BlueFive Capital alongside Chinese investment firms CPE, Guofang Investment, tech conglomerate Tencent and investment bank CITIC Securities.
Over 10 additional institutional investors joined the financing, including China’s internet giants Baidu and Alibaba Cloud.
With $15 billion in AUM, BlueFive Capital said the funding is part of its strategy to invest in foundational technology platforms, along with deepening its reach in China since opening an office in Beijing last year.
(Writing by Bindu Rai, editing by Brinda Darasha)
