CMC Capital Raises $600 Million For Second US Dollar Fund

CMC Capital Partners, a venture capital and private equity firm founded by former president of Shanghai Media Group Li Ruigang, has raised US$600 million for its second U.S. dollar-denominated fund at its hard cap.

According to a filing submitted with the U.S. Securities and Exchange Commission at the end of May, CMC Capital Partners II, L.P. has sold US$182 million to U.S. investors, and US$366.5 million to non-U.S. investors.

The vehicle is reportedly already one-third invested. Some of CMC's latest non-Chinese investments include a stake in U.S. talent and sports agency firm, Creative Artists Agency (CAA),...

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