It only seems like yesterday online games were investment targets themselves. Now Chinese online game operator Perfect World (NSDQ: PWRD) is setting aside a hefty sum to make its own investments.
The company, whose MMPORG games include Perfect World, Legend Of Martial Arts, Battle of the Immortals and Hot Dance Party, is putting RMD 643.5 million in to a n investment fund it will operate along with “one or several (unnamed) partners” over a nine-year period.
The fund will target high-growth technology, media and telecoms companies. “We’re also excited about the potential synergies we can achieve with our portfolio companies through this venture capital fund, which we believe will help us further build up our user base and strengthen our online platform,” says CEO Michael Chi (via announcement).
Perfect World licenses its games around the world outside of China.
Perfect World recently repurchased $100 million of its Nasdaq stock in a programme that it will continue until 2012.