The funding comes ahead of a planned overseas listing for Bona Group, which is the holding company of distributor Polybona, talent management company Bona Yinglong andexhibitor Bona Cineplex, as well as amajority shareholder in international sales outfit Distribution Workshop.
Sequoia and SIG Asia Investments, which is affiliated with US-based Susquehanna International Group, may finalise the deal with Bona Groupin a few months, according to wire reports. Last year, the two venture capital groups pumped $5m each into the company.
In 2007, Polybona distributed or co-distributed 20 films, with total revenue reaching $55.6m (RMB400m).The groupopened its fifth multiplex in December 2007 in Xian City.
Another private Beijing-based production and distribution outfit, Huayi Brothers, is also planning to go public on one of the Chinese stock exchanges later this year.