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Update: Northern Light Addresses SNS Investment
Northern Light Venture Capital has contacted Beijing-based online community site Kaixin001.com, but denied rumors that it has invested in the site, reports qq.com quoting Northern Light managing director Feng Deng. Deng said Northern Light is prepared to invest in the social networking service industry, but has not determined an exact timetable or investment amount. A forum post claimed that Northern Light had invested $4 million to $5 million for a 18-20% stake Kaixin001.com on Thursday.
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