ByteDance co-founder starts Cool River Venture
Why it matters: As a co-founder and former CEO of TikTok's parent company, the billionaire could have his eyes on investments in other media and tech companies.
Details: Zhang is listed as the sole director of the company and the sole shareholder is a Cayman Islands vehicle Galaxy LLC, according to a filing from the Hong Kong Companies Registry, per Bloomberg.
- The fund will "primarily invest in technology-related industries," the South China Morning Post reports.
- Zhang stepped down as ByteDance CEO in 2021 and has since maintained a rather low profile.