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Infinity invests $7m in Chinese mobile SNS provider

  • Maya Ando
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Israel-based private equity firm Infinity Group has committed $7 million to the Series C round of financing for Haolianluo (HLL), a Chinese mobile social networking services provider. The company is seeking to raise $12 million in total.

The investment agreement was signed in Tel Aviv attended by a delegation led by Gou Zhongwen, vice mayor of the Beijing municipal government.

Established in 2007, HLL focuses on developing the mobile SNS based mobile phone contacts. It has currently over 39 million mobile phone users with different operating systems. It has business cooperation with ChinaMobile, ChinaUnicom, Microsoft, MTK, and Samsung.

"As part of Infinity's high-value added services for its portfolio companies, Infinity is leading HLL to acquire some phone book companies whose technology can be fully integrated into HLL's platform. We will first help our portfolio companies with acquisition deals and then with IP issues," Amir Gal-Or, Infinity's chairman, founder and managing partner, said in a statement.

Infinity, which was founded by China Development Bank and Israeli conglomerate IDB Group, operates 12 funds, 10 of which are renminbi vehicles. It claims to have the largest number of renminbi funds of any private equity firm in China. Infinity is also behind the Infinity IP Bank, a hub for IP development and commercialization in China.

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