NetEase was reported on April 6 to have launched a RMB2.0 billion venture capital investment firm: NetEase Capital, which will focusing on investing in earlier-stage IT upstarts. Known for its much larger reserves of cash capital and far fewer investments than a few IT giants in China, NetEase sits on a pool of nearly USD 2.0 billion (RMB 12 billion) in cash and cash equivalents as of December 31, 2011.