China ACG Investment Administration Inc, a private equity investment management firm that focuses on the animation, comics and games industry (ACG), was established recently in Beijing.

The company will manage a private equity fund that collects capital and invests in promising enterprises or projects in the ACG industry.

The central government adopted a plan in 2009 to promote cultural industries, encouraging private and foreign capital.

Four banks and six cultural enterprises signed contracts with the company on its founding ceremony on Tuesday.