Shanghai—The new fund is for media investments, focusing on companies targeting expansion in Asia, especially China, reported WSJ. Wu said that the fund will invest in small to medium-size internet, digital-media and e-commerce companies that "need China for the next wave of expansion," added the report.  China is home to almost 600 million internet users, according to WSJ, which also reports that China surpassed Japan last year to become the world's … [Read more...] about Media investor Bruno Wu to raise $500m private-equity fund