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51wan Obtains Second-Round Funding

Yahoo Tech, 6/02/11

Liu Yang, CEO of Beijing-based browser game developer and operator 51wan, has announced that the company has completed a second round of funding jointly led by French investment firm Ventech Capital and JAFCO Asia. Liu declined to reveal the scale of the funding, but did confirm that both Ventech Capital and JAFCO Asia invested roughly equal amounts of funding this round.

51wan completed its first round of funding, totaling USD 2 mln and led by Sequioia Capital, in 2008. Liu said that no first-round investors carried through to the company's second round.

Liu also said that funding from this round will be put toward promotion of 51wan's gaming platform, as well as providing financial support to game developers for the company.

51wan released a number of martial arts themed browser game products yesterday, including licensed games Shanghai Chuangshi Lu, Wangguo Yinji ("Impress of Kingdom"), and Nandi Beigai, and self-developed games Daming Fusheng Ji, Xianmo Ling, Danao Tiangong. Liu said that all six games will go online this summer.

Liu also revealed that the company currently has a number of products released in the Southeast Asia market. Since it was released in Taiwan over a month ago, Nandi Beigai has already earned more than RMB 2 mln. Future plans include releasing the game in Korea, Singapore and Malaysia.

Editor's Note: Liu Yang has revealed that the new round of funding was worth USD 30 mln. Liu also said that 51wan finalized its purchase last month of 90% of shares in browser game developer Shanghai Cheer Code Software Co., Ltd., but declined to reveal the amount paid. Cheer Code is best known for its browser game Wulin Chuanqi II.

For more information on this topic, please see "Browser Gaming Firm Secures 1st Round Funding" MD 4/17/08 issue.

Keywords: Nandi Beigai Shanghai Chuangshi Lu Danao Tiangong Xianmo Ling Wangguo Yinji Daming Fusheng Ji overseas licensed game self-developed game 51wan browser game Liu Yang Internet funding Jafco Asia second-round Ventech online gaming

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