Tianjin Fengyun Lands USD 10 mln Investment
17173.com, 4/01/08
Tianjin Fengyun Network announced on March 31 that it had received an investment from HSBC Private Equity Asia. It is the first time HPEA has invested in a Chinese online gaming company. The investment is reported to be in the neighborhood of USD 10 mln.
Fengyun Network was founded in late 2006. In early 2007, it signed an agreement to operate Korean game developer MGame's 3D adventure Hero Online II, for which it began beta testing on September 29, 2007. The game has more than 6 mln users; beta testing for a new version is planned to begin this April.
A spokesperson for Fengyun Network said that the company will use the money from HPEA for further investment in Hero Online II and for construction of its entertainment platform, including the establishment of an R&D center. He did not rule out the possibility of using the money to acquire domestic developers.
Keywords: Fengyun Network HSBC Private Equity Asia funding VC Hero Online II Internet Mgame online gaming R&D Tianjin
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