SHIVC, the Shanghai municipality-backed investment firm, has established a 1 billion yuan industrial fund with a marketing and public relations conglomerate, hoping to foster culture, entertainment and intellectual property development with digital creativity and ecosystem building.

The tie-up with Activation Group, which serves big-title clients such as Chanel, BMW and Alibaba on integrated marketing solutions, is the venture capital platform's latest move after investing 14.42 percent of shares in the marketing house to become its biggest shareholder.

"China's vast majority of cultural and entertainment enterprises and talents, together with Activation's unique international vision and local expertise, will truly foster quality cultural enterprises in China and bring them to the global stage," said Zhang Saimei, general manager of SHIVC, during a signing ceremony last week.

The resources and experience of Activation Group will contribute to creating a quality pool of cultural contents and intellectual properties in the hope of "meeting people's pursuit of a beautiful life", said Steve Lau, executive director, joint-chairman of Board and CEO of Activation Group.