Perfect World Co. Ltd., a leading online game company based in China, announced its investment of $100 million (about RMB 643.5 million) in a venture capital fund focused on the technology, media and telecommunications sectors.
The unnamed fund will be formed by one of Perfect World Co.’s consolidated entities and one or more general partners unrelated to Perfect World. The fund will be managed by the general partners, and Perfect World has agreed to invest as a limited partner over a nine-year period.
“We are very pleased to start the process to invest in a TMT-focused venture capital fund,” commented Michael Chi, chairman and CEO of Perfect World. “We believe our extensive knowledge in the industry and our own growth experience will enable us to better analyze and capture the significant market opportunities. We’re also excited about the potential synergies we can achieve with our portfolio companies through this venture capital fund, which we believe will help us further build up our user base and strengthen our online platform.”
In unrelated news, Perfect World Entertainment Inc., a wholly owned U.S. subsidiary of Perfect World Co. Ltd., on Friday launched a celebration marking the third anniversary of Perfect World International (pictured), its flagship massively multiplayer online role playing game. Its more than 50 million players worldwide can participate in a month-long program of competitions and goodies.
Perfect World Entertainment’s best-known MMORPG games include Ether Saga Online, Jade Dynasty and Perfect World International, and a single-player action-RPG Torchlight.
Perfect World Co. Ltd. develops and operates massively multiplayer online role playing games. In addition to its Chinese business, Perfect World’s games have been licensed to leading game operators in a number of countries and regions in Asia, Latin America and the Russian Federation and other Russian speaking territories. Perfect World also generates revenues from game operations in North America, Europe and Japan.
Perfect World International celebration – http://tinyurl.com/43tbnpk
Investment Fund press release – http://tinyurl.com/3tj3z92