Bona Group raises funds

China distributor raises cash for venture

By PATRICK FRATER

Chinese distribution and production company Bona Group is poised to raise $30 million of second-round funding from U.S. venture capital sources.

Agencies reported Monday that Sequoia Capital China and SIG Asia Investments, which is affiliated with U.S. financial firm Susquehanna Intl. Group, could complete their deals within the month in the renamed Poly Bona outfit.

The two finance companies last year each invested $5 million in first-round funding and have been expected to make a second round that puts the group in a position to list its shares on a foreign stock exchange (Daily Variety, April 16). SIG Asia Investment managing director Tim Gong is a board member of Bona.

Last week, China's premier production house Huayi Bros. reaffirmed its plans to seek a listing on one of the country's main stock markets (Daily Variety, Aug. 11).