China's Bona Film forms $150m fund with US-based CAA

Jointly managed by Bona and CAA, the vehicle will invest in English-language movies, Sino-foreign co-productions, and Chinese-language productions, a statement said. Bona will own China distribution rights for all the films backed by the fund, while CAA will represent the US distribution rights.

The fund has already made its debut investment, having committed $80 million to Second World War movie “Midway.” As part of the deal, Bona has worldwide distribution rights excluding the US, which will be handled by CAA. The US talent agency, which is backed by TPG Capital, struck a deal with CMC Capital Partners in April to develop a media and entertainment joint venture in China.  

Bona is involved in the film production and distribution. The company completed a management-led privatization in April of last year, supported by PE investors including Sequoia Capital, Fosun International, SAIF Partners and SIG Asia, as well as strategic investors Alibaba Pictures and Tencent Holdings.

Eight months later, Alibaba and Tencent re-upped in a RMB2.5 billion ($360 million) round for the company, joined by a clutch of domestic investors including CITIC Goldstone Investment. Last week, Wanda Cinema Line agreed to invest RMB300 million for a 1.88% stake in Bona after the company announced it hired advisors for a domestic IPO.  

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• Topics
• Greater China
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