US-based mobile messaging company Tango launched a $25 corporate venturing fund on Monday that will invest in mobile game developers.
Tango operates a free mobile service for video, messaging and voice calling that it claims has over 200 million members across 3G, 4G and Wifi networks. It also allows users to play online games and share songs streamed on Spotify.
The Tango Global Games Fund will be used to support the company’s new game publishing strategy, targeting developers not currently incorporated into Tango’s platform. Top performing games will receive promotion through additional off platform channels, which may involve investments and the acquisition of development teams.
The fund will be run by Jim Ying, who previously headed up a $10m dedicated games fund for social mobile internet company Gree.
Tango raised $280m in a venture capital round in March that included $215m from Internet company Alibaba. It has also received funding from backers including the corporate venturing arms of telecommunications company Qualcomm and industrial group Access Industries.