NetDragon, IDG Establish Mobile Software Investment Fund

DoNews, 11/29/10

Fuzhou-based online game developer and operator NetDragon Websoft (0777.HK) and IDG Capital Partners have jointly established a mobile internet investment fund called "mFund." The fund will invest USD 50 mln in Chinese mobile internet start-ups over the next five years, primarily targeting SMEs and individual developers with investments between several tens of thousands to millions of USD. The fund pledges to respond within seven days of receiving a business plan.

The two firms also unveiled the official website, mfund.91.com, to provide detailed information on the fund. In addition, NetDragon has launched a mobile developers' platform, dev.91.com, to provide developers with access to payment and news services.

Keywords: NetDragon investment wireless IDGVC 0777.HK mobile Internet mobile application

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