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Infiniti Invests $2m in China Mobile SNS Co
Japanese firm Infiniti Venture Partners announced that it has completed its investment of JPY 200 million (about $2 million) in Shanghai-based mobile SNS provider Tx.com.cn, reports 163.com. The VC firm is just one of Tx.com.cn's joint investors, according to the report,
Infiniti Venture Partners will provide consulting services for Tx.com.cn fundraising and appoint Infiniti partner Tanaka Akio as a Tx.com.cn board member, said the report. Infiniti is now working on a transaction in which DeNA, the operator of Japanese mobile community Mobagetown, intends to acquire majority stake in Tx.com.cn, said the report. Tx.com.cn has approximately 1 million unique daily users, said the report.
Reports in early July said that DeNA had begun negotiations to acquire Tx.com.cn for an as yet unknown sum.
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