China-headquartered digital media group ByteDance has launched an investment vehicle called Nuverse Inspiration Fund that will invest in video game developers, DealStreetAsia reported yesterday.
The fund will be overseen by Nuverse, which operates as the gaming subsidiary of ByteDance, which owns TikTok, the short-form video platform known as Douyin in China, as well as mobile news aggregator Toutiao.
Nuverse Inspiration Fund will be overseen by Yan Shou, who was previously a strategy manager for internet and gaming group Tencent and who also heads up Nuverse itself.
