BlueFive Capital co-leads Kling AI's nearly USD 3 bn round, its fourth major China push in under a year

BlueFive Capital has stepped deeper into China’s AI ecosystem, co-leading an almost USD 3 bn funding round for Kling AI, in a capital raise that values the video generation company at USD 18 bn, it said in a statement. The Abu Dhabi-based alternative investment platform co-led the round alongside CPE, Guofang Investment, Tencent, and CITIC Securities, with more than 10 additional institutional investors joining in, including Baidu and Alibaba Cloud.

REMEMBER- We've tracked BlueFive's China build-out for almost a year now. Last year, it was targeting a USD 1 bn Asia-focused fund, which would include targeting assets in China, and also planned to work with Chinese state-backed lender China International Capital Corporation on a private equity fund targeting China’s “new economy.” It was also tapped as a general partner for a USD 4.6 bn China-focused fund-of-funds, and the statement said it had opened a Beijing office last year.

This was BlueFive’s third move in one week. It lands the same week BlueFive bought a controlling stake in Dubai contractor Gulf Cobla and closed a cross-border ownership swap with Al Murjan Group, formalizing a shariah-compliant investment partnership. That's on top of a portfolio that already spans vehicle leasing, autonomous delivery, and a stake in Bugatti.