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Green Pine Capital Nods CNY20mn in Mobile Game Developer
SHANGHAI, Nov 05, 2009 (SinoCast Daily Business Beat via COMTEX) --
Green Pine Capital Partners Co., Ltd. has agreed to fund Chinese mobile game developer Shanghai Soco Software Co., Ltd., with a first-phase investment of CNY 20 million, said Zhang Chunhui, investment director of the VC firm.
Established in 2005, Soco Software has developed nearly 70 types of products, including sports games, action games, RPGs, shooting games, casual games, and puzzle games, which are bundled with tens of millions of mobile phones a year before the terminals are sold.
The company also distributes mobile games all over the world in cooperation with about 40 countries' 100 telecoms operators, such as China Mobile Ltd. (NYSE: CHL and SEHK: 0941), Verizon Communications Inc. (NYSE: VZ), Vodafone Group PLC (LON: VOD).
On the other hand, Green Pine Capital is optimistic about the prospect of the Chinese mobile Internet industry and the cellphone entertainment niche, said Mr. Zhang, adding that his company has invested in A8 Digital Music Holdings Ltd. (SEHK: 0800) and the cellphone video provider Shenzhen Temobi Science & Tech Development Co., Ltd.
Source: www.enet.com.cn (November 05, 2009)
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