The9 opens $100m mobile dev fund

The9 opens $100m mobile dev fund

By Rob Crossley

January 6th 2011 at 2:07PM

MMO operator eyes mobile games space

The9, china’s online gaming giant, has established an ambitious $100 million fund to help finance mobile game development both internally and with external partners.

The firm, once an operator for Blizzard games, has built its business on operating MMO titles across China, but now has eyed the expanding mobile games market.

In a statement the group said mobile “has become a significant part of the mobile and internet industry with a rapidly growing number of smart phone users, especially in China”.

Developers can propose games for a share of the investment, though The9 didn’t announce terms of a deal it would offer to prospective partners.

The $100 million fund has been established with the help of three investment firms; Chengwei Ventures, ChinaRock Capital Management and China Renaissance K2 Ventures.

CEO Zhu Jun said “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.”

“I believe [the fund, known as Fund9] has a unique opportunity to provide such support to these talented developers who will be able to launch more advanced mobile applications that will ultimately benefit all mobile internet users.”