(Yicai Global) July 7 -- China Media Capital (CMC), a leading state-backed culture investment fund in China, has closed its second US dollar fund with a hard cap of USD600 million.

CMC announced the fund-raising two days ago and said investors in its second dollar fund include institutional investors such as public pension funds, sovereign funds, insurance companies, fund of funds and family offices, and retail investors in North America, Europe, the Middle East and Asia.

Its second dollar fund will continue to focus on and invest in fast-growing companies in media and entertainment, internet technology and media, live entertainment and lifestyle, as well as excellent overseas firms with a China growth angle, CMC said.

The CMC fund was founded by famed Chinese culture industry investor Li Ruigang.