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China's Zhaomi Group and Kee establish $360 million video game M&A fund

Date Type Companies involved Size
March 1st, 2017 partnership Kee Ever Bright Design Technology
Zhaomi Group
$360m
China's Zhaomi Group and Kee establish $360 million video game M&A fund

Beijing-based internet technology firm Zhaomi Group has partnered with fellow China-based company Kee Ever Bright Decorative Technology to start a $360 million M&A fund for games.

The investment fund plans to raise $140 million in its first round of funding.

The money will be used to acquire and invest in all aspects of games, including development, publishing, and distribution.

Looking abroad

The fund is also said to have an international scope, with the companies presumably offering help releasing games in China.

It aims to unlock and create value for games studios through its mergers and acquisitions.

"The global video games industry has a history of over 50 years, and there are many advanced technologies in the world. It is an opportune time to launch a buyout fund targeting the international market," said Chen Yang, founder of Zhaomi Group.

China is known for its M&A moves, some of which can appear slightly strange.

A China-based chemical firm bought Talking Tom developer Outfit7 for $1 billion in January 2017, for example.

[Source: Inside Games Asia]


Former Editor

Ric was formerly the Editor of Pocket Gamer and the Deputy Editor of PocketGamer.biz. He still pops up time to time to review games.

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