China Media Capital raises $447m

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China Media Capital has raised $447 million for its CMC Capital Partners II, according to a SEC filing. The Beijing-headquartered firm began fundraising in 2016 with an undisclosed target.

Its previous fund raised $350 million in 2014.

Investors that committed to CMC Capital Partners II include the San Francisco Employees' Retirement System.

The fund will target venture capital opportunities in technology, media and telecommunications sectors in China.