Sequoia Backs Chinese Publisher (Asia)
Source: Greater China Private Equity Review | Author: Maggie Lee
Global venture capital firm Sequoia Capital has reportedly invested RMB150 million (approximately US$23.8 million) in New Classic Culture Co., a Chinese publishing company. New Classic Culture publishes books and operates the website Readlife.com. The company has reportedly earmarked RMB40 million (approximately US$6.4 million) of the invested capital for new acquisitions.