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Sequoia Capital, Perfect World co-invest in Chinese literature site Zongheng

Sequoia Capital China, and Perfect World co-led a new round of financing in Zongheng, a Chinese literature site that provides vertical and horizontal literature contents.

The site is owned by Beijing-based Network Technology Co Ltd. Sheng King Fund, Guonong brothers, Shegjing360, Share Capital, and several institutions also participated in the strategic investment. The size of the deal was undisclosed.

Founded in 2008, Zongheng is a domestic Chinese original literary professional website. It serves as a cultural platform meant to guide the master writers and epic works.

Source: Dealstreetasia.com

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