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Chinese gaming giant opens wallet

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Chinese online game developer Perfect World has launched a US$100 million venture capital fund.

The fund will focus on investing in companies with high-growth opportunities in the technology, media and telecommunications sector and will be managed over a nine year period.

"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," said Michael Chi, chairman and CEO of Perfect World.

Perfect World's current portfolio of in-house developed online games includes multiplayer online role playing games Perfect World, Legend of Martial Arts, Pocketpet Journey West, Battle of the Immortals, Fantasy Zhu Xian, Dragon Excalibur, Empire of the Immortals and Hot Dance Party.

Its games have been licensed to game operators in regions in Asia, Latin America and the Russian Federation and other Russian-speaking territories.

"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," Chi added. ®

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