Perfect World to Increase Its Investment in VC Fund
BEIJING, March 5, 2013
BEIJING, March 5, 2013 /PRNewswire/ -- Perfect World Co., Ltd. (NASDAQ: PWRD)
("Perfect World" or the "Company"), a leading online game developer and
operator based in China, today announced that one of its consolidated entities
has recently entered into a definitive agreement to invest an additional
RMB396.0 million as a limited partner into a venture capital fund (the "VC
Fund"), of which one of Perfect World's consolidated entities is an existing
limited partner. The VC Fund intends to invest the additional capital
received into another private equity fund (the "PE Fund") as one of its
limited partners. To the knowledge of the Company, the PE Fund will primarily
focus on investing in mature companies in the consumer and retail, financial
services, health care, TMT, energy and natural resources, and high value-added
manufacturing industries in China. The core team managing the PE Fund
consists of former senior members of global private equity and financial
services firms and a former senior executive of a Fortune 500 company. These
core team members in the past have managed private equity investments of
nearly three billion U.S. dollars in aggregate.
"We are very pleased that the VC fund we have invested in has the opportunity
to participate in this private equity investment focusing on later stage
companies," commented Mr. Michael Chi, Chairman and Co-CEO of Perfect World.
"We are confident about the leadership of this private equity fund and believe
this investment diversifies and complements the VC fund's other targeted
investments in the high-growth TMT sector."
About Perfect World Co., Ltd. (http://www.pwrd.com)
Perfect World Co., Ltd. (NASDAQ: PWRD) is a leading online game developer and
operator based in China. Perfect World primarily develops online games based
on proprietary game engines and game development platforms. Perfect World's
strong technology and creative game design capabilities, combined with
extensive knowledge and experiences in the online game market, enable it to
frequently and promptly introduce popular games designed to cater changing
customer preferences and market trends. Perfect World's current portfolio of
self-developed online games includes massively multiplayer online role playing
games ("MMORPGs"): "Perfect World," "Legend of Martial Arts," "Perfect World
II," "Zhu Xian," "Chi Bi," "Pocketpet Journey West," "Battle of the
Immortals," "Fantasy Zhu Xian," "Forsaken World," "Dragon Excalibur," "Empire
of the Immortals" and "Return of the Condor Heroes;" an online casual game:
"Hot Dance Party;" and a number of web games and social networking games.
While a substantial portion of the revenues are generated in China, Perfect
World operates its games in North America, Europe and Japan through its own
subsidiaries. Perfect World's games have also been licensed to leading game
operators in a number of countries and regions in Asia, Latin America,
Australia, New Zealand, and the Russian Federation and other Russian speaking
territories. Perfect World intends to continue to explore new and innovative
business models and is committed to maximizing shareholder value over time.
Safe Harbor Statements
This press release contains forward-looking statements. These statements
constitute forward-looking statements under the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements. Such
statements involve certain risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking statements.
Potential risks and uncertainties include, but are not limited to, Perfect
World's limited operating history, its ability to develop and operate new
games that are commercially successful, the growth of the online game market
and the continuing market acceptance of its games and in-game items in China
and elsewhere, its ability to protect intellectual property rights, its
ability to respond to competitive pressure, its ability to maintain an
effective system of internal control over financial reporting, changes of the
regulatory environment in China, and economic slowdown in China and/or
elsewhere. Further information regarding these and other risks is included in
Perfect World's filings with the U.S. Securities and Exchange Commission,
including its annual report on Form 20-F. Perfect World does not undertake
any obligation to update any forward-looking statement as a result of new
information, future events or otherwise, except as required under applicable
For further information, please contact
Perfect World Co., Ltd.
Vivien Wang – Vice President, Investor Relations & Corporate Communications
Joanne Deng – Investor Relations Manager
Christensen Investor Relations
SOURCE Perfect World Co., Ltd.
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