China-based entertainment studio Linmon Pictures raised RMB500m ($76m) in series B capital yesterday in a round led by Hony Capital, the private equity arm of conglomerate Legend Holdings, Technode has reported.
The round also featured internet company Tencent and Mango V Foundation, a philanthropic organisation co-founded by satellite broadcaster Hunan TV and charity China Social Welfare Education Foundation.
Founded in 2014, Linmon produces and distributes independent entertainment content. The studio has produced three television dramas to date and will use the fresh funding to create additional dramas as well as movies, variety shows and other content.
Tencent previously provided RMB100m in series A funding for Linmon in 2015, according to Technode, though further details have not been disclosed.