Legend Capital, the venture capital firm sponsored by conglomerate Legend Holdings, has led a RMB128m ($18.8m) series A round for China-based publishing house Dook Book, China Money Network reported on Monday.
Zhihe Capital and Neixiang Fund also took part in the round, which valued the company at RMB2bn, according to local media reports.
Founded in 2006, Dook Book operates a diversified media company that incorporates book publishing as well as digital publishing, new media and film investments.
The company claims to publish at least one book a year that sells more than a million copies. Its most prominent properties include 10-book fantasy adventure series The Tibet Code.
Shao Zhenxing, managing director at Legend Capital, said: “Literature and publishing are sources of intellectual property, which is the foundation of a good movie, TV drama, online drama and video games.
“Dook Book has 11 years of experience in the publishing industry. They produce bestseller books each year and have connections with the top authors.”