subject: The 9limited Programs $100m Investment Fund [print this page] Chinese on the web video game developer The9 Limited (the corporate responsible for working Planet of Warcraft in China in 2009) have announced ideas for Fund9, a $one hundred million funding fund with Chengwei Ventures, ChinaRock Capital Administration and China Renaissance K2 Ventures. The firms have reached a non-binding memorandum of understanding towards the fund, which will deal with domestic and overseas mobile World wide web application and platform builders.
Fund9 will focus on investments in equally domestic and overseas mobile phone world wide web app and platform developers. All mobile internet software and platform undertaking proposals is often straight submitted on the web to the fund financial commitment committee for evaluation. Fund9s fund choice committee will probably be composed of users appointed from the four fund investors.
Mr. Jun Zhu, The9s Chairman and Chief Executive Officer, commented, Cellular world-wide-web app and platform has become a vital part from the mobile phone and world wide web business which has a rapidly growing volume of smartphone customers, specifically in China. We noticed that you can find many talented and innovative domestic improvement teams in have to have of assistance throughout their improvement. If they obtain monetary and other help for example marketing, operation and administration, their probability of good results is going to be much larger. I consider Fund9 incorporates a exceptional option to supply this kind of help to these talented builders who will likely be capable of launch additional advanced mobile phone apps that could ultimately benefit all mobile world wide web customers. We may even target talented overseas phone net utility and platform builders with all the final objective of bringing the perfect products to China.
