Venture Capital firm Crystal Ventures wants to invest $120 million into new media and content companies in Asia, Dow Jones writes. The VC is looking for investors for the new fund.
"The infrastructure is ready, and consumer behavior for pay-per-use is ready," managing director Joseph Tzeng told the news service. "It ties into the rise of the Chinese middle class, where newly rich professionals have tremendous diversified needs for content."
The decision comes at a time when online advertising in the US and Europe is showing a strong recovery. Furthermore, Asian consumers might be persuaded to pay for content on their mobile devices in a way similar to the multi billion dollar ring tone industry.
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