The9, an online game operator and developer in China, is planning a to form a $100 million investment fund (Fund9) with the help of Chengwei Ventures, ChinaRock Capital Management and China Renaissance K2 Ventures
Fund9 will focus on investments in both domestic and overseas mobile internet application and platform developers. All mobile internet application and platform project proposals can be directly submitted online to the fund investment committee for evaluation.
Mr. Jun Zhu, The9’s Chairman and Chief Executive Officer, commented, “Mobile internet application and platform has become a significant part of the mobile and internet industry with a rapidly growing number of smartphone users, especially in China. We noticed that there are many talented and creative domestic development teams in need of support during their development. If they receive financial and other support such as marketing, operation and administration, their chance of success will be much higher. I believe Fund9 has a unique opportunity to provide such support to these talented developers who will be able to launch more advanced mobile applications that will ultimately benefit all mobile internet users. We will also target talented overseas mobile internet application and platform developers with the ultimate goal of bringing the best products to China.”
- The9 Limited acquires a majority interest in Red 5 Studios Posted on March 24, 2010
- The9 invests in Aurora Feint Posted on July 8, 2010