GCL Global (GCL) announced the signing of a non-binding term sheet with Heling Tongxing Private Fund Management for the joint establishment of the GCL Game and Cultural Industry Fund. The term sheet reflects parties’ shared intention to establish the fund and sets out certain principal commercial terms to be confirmed by the parties and formalized in a definitive limited partnership agreement. With a total budget ranging from RMB100M to RMB150M, the proposed fund will focus on strategic investments in China’s rapidly evolving game development and publishing sectors. The GCL Game and Cultural Industry Fund is expected to operate over a seven-year term, including a four-year investment period followed by a three-year exit period, with possible extensions subject to unanimous partners’ approval.
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