Legend Capitalizes China Games Outsourcing Provider
Filed in archive on July 7, 2006
Paid Content.org cites that Virtuos, one of the world's largest outsourced services provider in the games industry, announced today that it has closed a Series A stock financing round with Legend Capital, the independent VC firm under Legend Holdings, owner of lenovo group. The VC arm was established in 2001 with an initial fund of over $100 million targeting Chinese tech companies. It now manages nearly $300 million across three funds and counts among its initial successes Joyo.com acquired by Amazon in 2004.
According to independent market research firm. Screen Digest, "a quiet revolution is transforming the games industry as developers turn to outsourcing. The global market for games outsourcing will reach $1.1bn by the end of 2006 and is set to grow to $2.5bn by 2010 -- representing 40% of total games development spend".
It appears that games are starting far in advance of the scheduled Olympics.
Tags: Legend Capital invests in China tech companies
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