Chinese venture capital fund acquired stake in US social network for $8 million

Chinese venture capital firm Ventech China have led investment of $8 million in San Francisco social network Hornet.

Hornet is the world's second largest gay social network. Founded in 2011, it has grown to 15 million total and 3 million monthly active users. Ventech China is based in Shanghai with Eric Huet as managing partner. Ventech China 3 is a $225 million venture capital fund focused on communities, M-commerce and Big Data. Its current portfolio companies include Keep, the fitness training and community app in China, Blued, the gay community app in China and WonderFull, the Japanese product M-commerce platform.

Ventech China is listed in the Chinese Investors Directory with the code SNO15.

More details follows