GoerTek, a Chinese company in the acoustic, optical and microelectronics industries, announced on July 18 that the company and its holding subsidiary, Tongge Ventures, had signed a partnership agreement with two game developer – miHoYo and 37 Interactive Entertainment. The deal will contribute 556 million yuan ($82.54 million) to carry out venture capital activities between the companies.
The investment target is Qingdao Tongge Phase I Venture Capital Fund Partnership, which is jointly funded by GoerTek and Tongge Ventures with capital of 99 million yuan and 1 million yuan respectively.
This partnership will make equity or quasi-equity investments in unlisted startups in advanced manufacturing, intelligent vehicles, augmented reality, virtual reality and semiconductors.
Established in June 2001 and listed on the Shenzhen Stock Exchange (SZSE) in May 2008, GoerTek is engaged in the R&D, manufacturing and sales of acousto-optic precision components and precision structural parts, intelligent machines and high-end equipment. At present, GoerTek has offices in 21 cities in 6 countries around the world, including China, the United States, Japan, South Korea and Denmark.
miHoYo and 37 Interactive Entertainment are both game companies. Founded in 2011, miHoYo is a tech firm heavily involved in animation culture and has, over the years, built a complete industrial chain that spans comics, animation, games, music, novels and animation peripherals.
37 Interactive Entertainment, meanwhile, is involved with the R&D and distribution of global games and quality education. Furthermore, the company is also actively working its way into the metaverse, film and television, animation, music and other fields. It owns the well-known game R&D brand 37Games, professional game operation brand 37Online, 37Mobile, and high-quality online education brand Miaocode.