A
Aileen Bin Mo
Vice President, Finance
All funds
out of scope
ai robotics
out of scope
out of scope
crypto
out of scope
out of scope
Analyst signals
Portfolio activity and matriculation
Metrics use all recorded activity through 21 Jul 2026 across series a, series b, series e, unknown. Later-round outcomes are capped at the period end.
57.1%companies with a later round · 4/7
0.91×median round-size step-up · n=4
Not availablemedian valuation step-up · n=0
14.3%recorded-solo rate · 1 solo / 6 syndicated
Gaming · 4 companiesMetaverse · 3 companies
These are activity signals, not fund-return metrics. Round capital is the full disclosed financing amount, not this fund's check size. “Recorded solo” means only one investor is present in the source data and is a lead signal, not verified lead status; syndicated rounds are a co-investor or follower signal. IRR, TVPI, DPI, ownership, exits, and market beta cannot be calculated from the available records.
People
Team
P
Paul W. Boltz, Jr.
General Counsel
W
William Ding
Founder, Director and Chief Executive Officer
Portfolio
Investments
Full financing histories for portfolio companies. Highlighted rounds are those where NetEase is recorded as an investor.
BUD
Metaverse
BUD is an open metaverse gaming platform that connects millions of virtual worlds created by our community, made up of 9 million creators.
Genies
Gaming
Genies is an AI avatar and games technology company that provides an AI Avatar Framework and a suite of User-Generated Content (UGC) tools. Their mission is to power an interoperable identity layer for the internet. They enable developers, brands, and creators to build games and digital experiences with intelligent, emotionally responsive, and customizable AI companions and avatars. The technology focuses on digital identity, expression, and interoperability for the gaming, metaverse, and XR industries.
HAEGIN
Gaming
HAEGIN is a South Korean game company that develops and operates casual mobile and PC games across social, sports, battle royale, and RPG genres for players worldwide.
Improbable
Metaverse
We are metaverse venture builders. We initiate and develop new businesses in frontier ecosystems like AI, web3 and the metaverse. Drawing on over a decade of experience in distributed systems, building metaverse infrastructure and virtual worlds for major brands, we help founders and entrepreneurs turn their ideas into a useful reality through entertainment, social experiences or enterprise applications.
IMVU
Gaming
IMVU is Together Labs’ avatar-based Web3 social metaverse, combining 3D social experiences, creator commerce, and digital rewards.
Series E25 Jan, 2021$35T roundSyndicated · 2 disclosed investors
Theorycraft Games Inc
Gaming
Theorycraft Games is a fully remote game-development studio founded in 2020 by veterans of Blizzard, Riot, and Bungie. It develops player-centered multiplayer games; its first game, SUPERVIVE, released in 2024, and the studio is working on its next game.
Together Labs
Metaverse
Together Labs is a technology company behind IMVU, a Web3 social metaverse focused on helping people connect, create, and build community through shared virtual experiences.