No More Games for Lenovo

Filed in archive Venture Capital on August 23, 2006

The China tech community is abuzz with the latest news on venture financing for popular Chinese software and online game company Kingsoft. Despite a loss of confidence from the majority investor, Lenovo, the gaming company has received a US$72 million from three additional investors. The three investors are the Government of Singapore Investment Corporation (GIC), Intel Capital, and New Horizon evergreen Investment Company.

According to an earlier rumors reported by Sina, Kingsoft's largest shareholder Lenovo and its earliest investor Zhang Xuanlong will cash out through the investment.

Who knows if this is short term thinking, but one thing for sure Lenovo's decison is a no vote for games.

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Tags: China gaming Kingsoft tech communities

Vote for No More Games for Lenovo:

Currently 7.75/10
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Rating: 7.75 out of 4 vote(s) cast.

Response from: Kaiser (08/24/06 11:42pm)

Hi James! I wouldn't call Lenovo's divestment a no vote for games per se; Legend Capital, after all, invested recently in Virtuos, a game production outsourcing house in Shanghai founded by former Ubisoft Shanghai GM Gilles Langourieux. I recently wrote a piece on how many VCs are looking at the outsourcing space as the best point of insertion. Great site, please keep up the good work!

Response from: Lee (08/30/06 11:22pm)

i think so,Kingsoft is not good at gaming.

Response from: janaka (12/05/06 6:41am)

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