Seems like Temasek and others have just plunged US$100 million into Chinese online gaming and music site 9You. The site has recently claimed to have broken the 1M concurrent users milestone and is heading to IPO later this year.
This is interesting as it departs from Temasek's regular infrastructure-type investments and enters the virtual world. If it pans out, the ROI could be pretty high, but so's the inherent risk of such ventures.
(via : VentureBeat & alarm:clock)
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In other news, Temasek says it "not a sovereign wealth fund" and hence "not affected by an agreement by Singapore, Abu Dhabi and the United States on principles to increase the transparency of sovereign wealth funds."
Spokesperson Mark Lee elaborated "Temasek has to sell assets to raise cash for new investments and doesn't require the government to give approvals."
The mind boogles.
(via: STOnline)
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