21 December, 2019
Osborne Clarke Hong Kong advised Vectr Ventures in connection with a $2.15 million fund raising, led by Vectr and Alibaba Hong Kong Entrepreneurs Fund, for a cloud-based development platform by Hong Kong software firm, Area28. The new platform is said to be the "world's first cloud-based collaboration platform and computer game engine", which aims to facilitate remote game development for dispersed teams, using an "engine agnostic cloud collaboration layer" to enhance workflow.
Vectr is a global early-stage venture studio based in Hong Kong, focusing on businesses of transformational products and development of unique technologies.
Our Hong Kong team has worked with Vectr since 2017 on various aspects of the project, including acquiring the source code licence for the game engine, co-development agreements, terms sheets and SAFE documentation for seed round investments. We also worked closely with the OC London and OC Shanghai offices in providing some high level data privacy guidance for the cloud platform.
