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), announced in April.
The firm also acquired an undisclosed stake in Imagine Entertainment, a Hollywood production firm led by director Ron Howard and producer Brian Grazer, last spring.
Founded in 2010, CMC focuses on investing in the media, film, entertainment and sports sectors in China and globally. The group also operates CMC Holdings, which focuses on making strategic investments with an eye to create synergy among its dozens of portfolio companies.
Some of CMC's other portfolio companies include online video content provider Yitiao, online education firm Yuantiku, Chinese financial news portal WallStreetCn.com, and media ranking firm Newrank.