Your Source for Venture Capital and Private Equity Financings

Haolianluo Says Hello To $12M Series C

2011-08-15
Haolianluo is the leading mobile social networking service provider in China. Infinity Group is investing $7 million in the company.
BEIJING, CHINA, Infinity Group, an RMB fund pioneer and the leader in cross border China RMB and dollar private equity platforms and technology cooperation, announces it is leading a $12 million dollar C investment round in Haolianluo (HLL), the leading mobile social networking service provider in China. Infinity Group is investing $7 million in the company.

The investment agreement was signed at a private ceremony in Tel Aviv, Israel hosted by Avi Fischer, co-CEO of Clal Industries and Investments and deputy chairman of IDB Group and Amir Gal-Or, chairman, founder & managing partner of the Infinity Group and Infinity I-China, and attended by a delegation from Beijing led by Vice Mayor of Beijing Municipal Government Gou Zhongwen and Beijing Z-park Administrative Committee Director Guo Hong. During their visit, the delegation also participated in separate meetings with Rabbi Professor Daniel Hershkowitz, Israeli Minister of Science and Technology and Mr. Avi Hasson, Chief Scientist of the Ministry of Industry, Trade and Labor of Israel.

"Israel is a well-known start-up nation. We are quite impressed by the creative and innovative spirit cultivated in such a small country. Infinity is a leading PE firm in China with high value-added technology investments. We hope Infinity, together with other Israeli groups like IDB, can play a bigger role in the development and technology upgrade in Beijing," said Vice Mayor Gou Zhongwen.

"We highly appreciate Haolianluo's sophisticated structure and believe it has great growth potential," said Mr. Gal-Or.

Mr. Gal-Or continued, "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."

About Haolianluo (HLL)
Beijing Digital Horizon Technology Co., Ltd. ("Haolianluo") was established in 2007. The company focuses on the Mobile SNS based mobile phone contacts. HLL's major product lines include mobile phone contacts, SNS within groups and contacting short-messaging.

HLL currently has over 39 million mobile phone users with different operating systems, about 200 employees and broad cooperation relationships with ChinaMobile, ChinaUnicom, Microsoft, MTK, and Samsung.

About Infinity Group
Infinity Group is an RMB fund pioneer and the leader in cross border China, RMB and dollar private equity platforms and technology cooperation. It is also the founder of the Infinity IP Bank, the hub for IP development and commercialization in China. Infinity Group currently manages twelve funds, ten in China. Infinity has a portfolio of 45 companies and has made 22 successful exits. Infinity, which has the greatest number of RMB funds in China, was founded by the China Development Bank and IDB Group (the largest conglomerate in Israel). Infinity serves as a bridge for Chinese companies that want to integrate technology and know-how to become industry leaders domestically as well as to compete internationally, and for non-Chinese companies, with proven technology, seeking to capitalize on the Chinese market. Sectors of focus include: medical device, pharma and healthcare services, information technology, agritech, materials, as well as water and clean technology and energy. Recent high profile activities include the technology acquisitions from Israeli companies Pulsar and Ghost, investments in United Water Corporation (Shanghai, China) and Weigo (Shangdong, China), as well as exits from Tegrity, Orsus, FuturaGene and Teledata Networks. Other China-related exits include Shellcase, Nanomotion, and a partial exit from Digital China. Infinity currently has offices in Beijing, Changzhou, Chengdu, Harbin, Hong Kong, Jining, New York, Ningbo, Shanghai, Shijiazhuang, Suzhou, Tel Aviv and Tianjin.



(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about page.
>> Click here for in-depth research on 9,000 startups and 5,000 VC investors


Featured Reading