According to a source to Pedaily.cn, Perfect World, a China-based media group, has committed an extra RMB396m ($65m) in a corporate venturing fund.

News provider Japanese Venture News said Dena had yet to commit to the second Incubate fund, which instead had raised money from other corporations.

SingTel L!feLabs are now located in Israel, Singapore, Boston and Silicon Valley, California.

Barracuda declined to disclose the exact size of the new fund but said it was in the tens of millions, according to an interview in BizJournals.

Through this collaboration, the two organisations will mutually-selected CVI research and development projects with the goal of commercializing them and resulting intellectual property.