China Media Capital (CMC) Inc., a media and entertainment company, has raised a RMB10 billion (US$1.49 billion) series A round led by Chinese real estate developer Vanke, and existing investors Chinese tech giants Alibaba Group Holding Ltd., and Tencent Holdings Ltd. CMB International Capital and others also participated in the round, giving the firm a RMB40 billion (US$6 billion) post-money valuation, according to Chinese Cultural Group’s announcement. CMC Inc., is led by Li Ruigang, former president of Shanghai Media Group.