Technology
Tencent Holdings to launch $760m games fund
Updated: 2011-01-25 15:08
(Agencies)
Tencent Holdings, China's largest Internet firm by market value, plans to launch a 5 billion yuan ($760 million) fund to invest in online games, social games and mobiles games, Reuters reported Tuesday, citing the Shanghai Securities News .
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China's online games market rose 25 percent in the fourth quarter last year to hit 9 billion yuan ($1.4 billion), with Tencent holding 31 percent of the market, data from iResearch showed.
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