Touch panel maker O-Film Tech is moving into virtual reality with a stake in the VR device developer, whose backers include China Mobile Games and Entertainment.

The telecoms provider has joined Mountain Partners and Kejora Ventures to launch Ideabox Ventures, a VC firm offering pre-series A capital to startups.

A round up of all the latest news on www.globalcorporateventuring.com for our subscribers.

AcFun investors Youku Tudou and SoftBank China Venture Capital are selling $36m of shares to online content publisher Chinese All Digital Publishing Group.

HTC, manufacturer of the Vive virtual reality headset, has partnered Shenzhen Municipal Government for the Shenzhen VR Investment Fund and is targeting a $1.45bn fundraise.

Huayi Brothers led the round and will help Magilm grow its film, television and animation production capabilities as well as its marketing and distribution services.

Edinburgh University spinout FanDuel will merge with daily fantasy sports competitor DraftKings to form an undisputed leader in the sector.

Buzzfeed has raised $200m from strategic partner NBCUniversal at the same $1.5bn valuation as the $200m it supplied in August last year.