Orchid, Matrix commit $100m to China gaming platform

Guangzhou-based Quwan was founded in 2014. It has evolved from a platform that enables users to speak to one another while playing games into a game-based social network. Its flagship product TT Voice provides real-time interactions among players.

Each user has their own virtual room within the social network. These rooms, which can be personalized, serve as the base of communications. Players can enter each other's rooms and this leads to the formation of clubs comprising those with similar interests.

“The online social needs of the young generation are not being met," said Huadong Wang, a partner at Matrix, in a statement. "For a long time, the commercial value of voice communication has been underestimated. Quwan’s TT Voice can become a global leader in social gaming platforms through continuous optimization of its operations and algorithms."

Online gaming is becoming an increasingly popular investment target in Asia. Recent activity in China includes a $160 million Series A for e-sports and events promoter VSPN and a RMB300 million ($42 million) Series B for Reworld, which ambitions to become a social network for younger gamers.

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• Topics
• Greater China
• Early-stage
• Technology
• Consumer
• Media
• China
• TMT
• Orchid Asia Group Management
• Matrix Partners