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Orchid Asia leads $74m round for China's FunPlus Game

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Beijing-based mobile social games developer FunPlus has raised a $74 million Series B round of funding led by Orchid Asia. GSR Ventures and Steamboat Ventures also participated.

The fresh capital will be used to expand the business into new markets, launching new games and adding staff in the company's San Francisco, Vancouver and Beijing offices, according to a statement.

Founded in 2010 by Andy Zhong and Yitao Guan, FunPlus has launched three games - Family Farm, Royal Story, Fantasy Slots - on Facebook and Family Farm Seaside on smart phones. All are free-to-play and supported by in-game purchases.

The company claims that its signature game Family Farm has more than four million players globally each day. It plans to launch another three games this year.

"FunPlus is well-positioned to become one of the fastest growing developers in mobile social gaming," said Richard Lim, managing director at GSR Ventures. "We firmly believe in the company's worldwide growth strategy and the enthusiastic team they are building to bring fun to a constantly-growing worldwide community of gamers."

GSR Ventures previously provided a $13 million Series A round for FunPlus in 2012.

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