China-based game developer The9 has followed up from making its first non-Asian strategic stake earlier this year by launching a $100m corporate venturing fund alongside three venture capital (VC) firms.
Nasdaq-listed The9 has linked with VC firms ChinaRock Capital Management, which was seed funded by hedge fund Farallon and is now 11.1% owned by The9 according to its regulatory filing last month; Chengwei Ventures; and China Renaissance K2 Ventures, a venture fund started earlier this year by venture capitalist Chen Keyi and merchant bank China Renaissance.
Fund9 will focus on investments in China and international mobile internet application and platform developers.
Jun Zhu, executive chairman of The9, said: "Mobile internet application and platform has become a significant part of the mobile and internet industry with a rapidly growing number of smart phone users, especially in China.
"There are many talented and creative domestic development teams in need of support during their development. If they receive financial and other support such as marketing, operation and administration, their chance of success will be much higher.
"We will also target talented overseas mobile internet application and platform developers with the ultimate goal of bringing the best products to China."
The9 also plans to fully start a China version of its licensed OpenFeint platform in March 2011.
The9 bought a minority stake in Aurora Feint, a US-based social gaming platform for Apple’s iPhone, earlier this year.
The9, which is listed on the Nasdaq stock exchange, was reported by news provider VentureWire as having paid $5m for the minority stake.
Aurora has 18 million players on its OpenFeint game and a development platform to allow other games to be played on its hardware and previously sold 20% of the company to Japan-based social gaming company DeNA, which last month set up a corporate venturing fund.
The9 said it made its minority investments from its balance sheet having backed Korea-based G10 in April 2008 and domestic game studios Youqu, Fire Rain, Star and Fatiaocheng.
In March, The9 made its first acquisition through buying majority control of US games maker Red 5 Studios but it has previously made strategic investments in Asian companies.