perfect world

Chinese Online Gaming Giant ‘Perfect World’ To Invest $100M In A VC Fund

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Perfect World, a publicly listed Chinese online game developer and publisher that specializes in 3D MMORPGs, this morning announced that it – or rather, “one of its entities” – will be investing in a new venture capital fund.

As a limited partner, Perfect World has agreed to invest a total of approximately RMB643.5 million (roughly $100 million) in the fund, which will focus primarily on backing technology and media companies.

Michael Chi, chairman and CEO of Perfect World, in a statement says the company’s knowledge in TMT industries will allow it to better identify opportunities, but that the fund will likely also serve as fertile ground for partnerships that can enhance Perfect World’s online platform and grow its business.

Perfect World primarily develops online games based on proprietary game engines and game development platforms. Its current portfolio of online games includes massively multiplayer online role playing games like “Perfect World”, “Legend of Martial Arts”, “Zhu Xian” and”Battle of the Immortals and an online casual game called “Hot Dance Party”.

Perfect World’s games have been licensed to game operators in a number of countries and regions in Asia, Latin America and the Russian Federation and other Russian speaking territories. The company also generates revenues from game operations in North America, Europe and Japan.

The company, which is listed on NASDAQ, recently paid roughly $21 million to acquire C&C Media, a Japanese online game operator, from computer and video game developer ATLUS.