China VCs Gamble on Games News Portal
Filed in archive Venture Capital on April 4, 2006
Pacific Epoch reports that Beijing based online gaming services company TKgame has received a US$5 million round of series B financing from Asian groove HK Fund, in a Sina article. TKgame, which offers online game information and news, has over nine million users, according to the report. TKgame previously received investments from Softbank and The9(Nasdaq:NCTY).
TKgame announced the investment at the end of March. The release said that Asian Groove HK plans to invest US$1 billion in China over the next three to five years. Asian Groove HK invested US$50 million in over 10 projects in 2005, including Shanghai based online gaming company 9you and auto portal 51auto.
With this kind of available funding for news on online games, some may consider the odds better in online gaming since most users tend to be non-readers.
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