In November 2004, 3i invested US$8 million in a US$35 million funding round in Focus Media, the pioneer and market leader in digital outdoor media advertising in China.
Focus Media offers customers advertising opportunities through flat panel TV screens in over 15,000 prime commercial locations in mainland China.
Despite keen competition from other private equity houses, 3i was selected alongside Goldman Sachs due to our local presence, our track record in private equity and our reputation in the media sector.
3i's significant sector expertise not only enabled us to recognise the high growth potential of this innovative medium, but also to add considerable value post investment. This has included the introduction of Eric Rosenkranz, former Asia Pacific president of Grey Global Group and an established industry expert, as vice chairman.
The high growth of the business and its financial performance have put Focus Media in the position where it is now able to contemplate an IPO, possibly becoming the first media company in China to list on NASDAQ.
