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Qihoo 360 & VCs Launch Free Software Incubation Plan

Sina Tech, 1/05/10

Venture capital funds Sequoia China and Highland Capital, along with Chinese anti-virus software provider Qihoo 360, have announced a plan to help support free software. Under the plan, the three companies will invest RMB 1 bln over the next several years to promote the development of SMEs and individuals creating free software, via investment, incubation, partnership, and acquisition.

Under the plan, the three companies will provide capital on an ongoing basis to support free software makers. Assistance could either come in the form of investment by all three companies, or with Qihoo 360 acting as a representative for the other two. In addition, Qihoo 360 may provide product and technical support to companies and individual developers.

Keywords: Sequoia Capital investment software Highland Capital Qihoo 360

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