Chinese state-backed media group China Media Capital Inc. said on Tuesday that it had raised 10 billion yuan, or $1.5 billion, in a series A fund-raising round, according to Reuters. Investors included Alibaba Group Holding Ltd /zigman2/quotes/201948298/composite BABA +0.51% , Tencent Holdings Ltd /zigman2/quotes/207908563/composite TCEHY -0.94% and real estate developer China Vanke Co /zigman2/quotes/203915646/composite CHVKY -21.76% . CMC said the firm was valued at around 400 billion yuan, or approximately $60.2 billion, post-fundraising. The company was founded in 2009 by media tycoon and former Shanghai government official Li Ruigang and has vast entertainment holdings, including large stakes in Hong Kong-based broadcaster TVB and Beijing-based financial news outlet Caixin. It also owns distributor CMC Pictures, production company Gravity Pictures and Pearl Studios, formerly known as Oriental DreamWorks. Alibaba shares have gone up 8.1% so far this year. Tencent shares have fallen 3.7% and China Vanke Co. shares have fallen 16.4%.