PrivateEquityChina

Top Earning Non-State Firms

Lenovo has emerged on top of the top earning 500 non-governmental enterprises in China in 2003, according to a list published by the All-China Federation of Industry and Commerce in late August.
Asia Times Online - News from greater China; Hong Kong and Taiwan.

VC Investments in China Internet

Venture-capital firms made $177 million in Internet-related investments in China in 2003 and 2004, four times more than the $44 million India attracted, according to Asian Venture Capital Journal, a Hong Kong-based trade publication.

Blogging In China

BlogChina.com has increased its number of registered users to two million from 300,000 in the past two years, according to its chairman, Fang Xingdong. The company, which says it is China's biggest Web log service, received start-up capital from Softbank Asia Infrastructure Fund.

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Internet regulations aren't hurting our business," says Fang. Of BlogChina's 210 employees, about 10 work full-time monitoring postings for compliance with censorship laws, he says.
IHT 21 July 2005

Internet in China

The number of Web users in China has expanded sevenfold in eight years to 94 million.

The Chinese government has paved the way for Internet growth by investing $138 billion in telecommunications networks in the past five years. 

China's online revenue - which includes sales from advertising and from Internet gaming and wireless services - grew 35 percent last year to $1.1 billion and will rise 30 percent in 2005, according to MindShare, the media-buying unit of the London-based WPP Group.

China had 667 million active fixed and mobile-phone lines at the end of 2004, according to the Ministry of Information Industry - about one for every 1.9 people.

China's per-capita gross national income was $1,290 last year, according to statistics from the World Bank in Washington.

IHT 21 July 2005

Yahoo in China

Yahoo, invested $120 million in a Chinese search engine in 2003. Last year it started an auction site in China, where total online revenue hit $1.1 billion.
IHT 21 July 2005

IDG New China Fund

International Data Group and Accel Partners have launched a new venture capital fund for China. The IDG-Accel China Growth Fund will focus on IT, healthcare, consumer technologies, and other emerging technologies. Its anchor investors are IDG and Accel but the fund will also gather capital from institutional investors.

IDG Technology Venture Investment (IDGVC), the general partnership which has been managing IDG's venture capital funds in China since 1992, will manage the new fund.

IDG founder and chairman Patrick McGovern said, 'It's a perfect time for IDG to scale up its investment activities in China as we have been seeing an increasing number of larger investment opportunities.'

Jim Breyer, managing partner of Accel Partners, added, 'We are very excited about this new partnership as IDGVC is considered one of the best venture capital investment teams in China and has delivered superior returns to its investors.'

IDGVC was founded by IDG, a provider of information technology services, and originally named Pacific Technology Venture Fund-China. IDGVC's venture capital operation is headquartered in Beijing, with branch offices in Shanghai, Guangzhou and Shenzhen in China, and in Boston and San Jose in the United States. Accel Partners has offices in Palo Alto, California and London

July 2005