AGL 38.55 Decreased By ▼ -1.03 (-2.6%)
AIRLINK 128.50 Decreased By ▼ -2.72 (-2.07%)
BOP 6.96 Increased By ▲ 0.15 (2.2%)
CNERGY 4.56 Decreased By ▼ -0.15 (-3.18%)
DCL 8.20 Decreased By ▼ -0.24 (-2.84%)
DFML 39.50 Decreased By ▼ -1.97 (-4.75%)
DGKC 79.50 Decreased By ▼ -2.59 (-3.16%)
FCCL 31.90 Decreased By ▼ -1.20 (-3.63%)
FFBL 70.55 Decreased By ▼ -2.32 (-3.18%)
FFL 12.23 Decreased By ▼ -0.03 (-0.24%)
HUBC 108.75 Decreased By ▼ -1.99 (-1.8%)
HUMNL 13.69 Decreased By ▼ -0.82 (-5.65%)
KEL 4.94 Decreased By ▼ -0.25 (-4.82%)
KOSM 7.48 Decreased By ▼ -0.13 (-1.71%)
MLCF 37.75 Decreased By ▼ -1.15 (-2.96%)
NBP 68.00 Increased By ▲ 3.99 (6.23%)
OGDC 188.05 Decreased By ▼ -4.77 (-2.47%)
PAEL 24.80 Decreased By ▼ -0.88 (-3.43%)
PIBTL 7.30 Decreased By ▼ -0.04 (-0.54%)
PPL 148.50 Decreased By ▼ -5.57 (-3.62%)
PRL 24.78 Decreased By ▼ -1.05 (-4.07%)
PTC 17.00 Decreased By ▼ -0.81 (-4.55%)
SEARL 79.55 Decreased By ▼ -2.75 (-3.34%)
TELE 7.44 Decreased By ▼ -0.32 (-4.12%)
TOMCL 32.70 Decreased By ▼ -0.76 (-2.27%)
TPLP 8.24 Decreased By ▼ -0.25 (-2.94%)
TREET 16.75 Increased By ▲ 0.13 (0.78%)
TRG 56.44 Decreased By ▼ -0.96 (-1.67%)
UNITY 27.95 Increased By ▲ 0.44 (1.6%)
WTL 1.31 Decreased By ▼ -0.06 (-4.38%)
BR100 10,374 Decreased By -130.9 (-1.25%)
BR30 30,573 Decreased By -653.5 (-2.09%)
KSE100 97,066 Decreased By -1013.5 (-1.03%)
KSE30 30,238 Decreased By -320.7 (-1.05%)

A long-time partner of Softbank China & India Holdings, a venture capital fund backed by Japans Softbank Corp, said on March 25 he will quit his full time role and return to a firm he founded. Jay Chen will end his at the end of March, he said, confirming an earlier Reuters story.
Chen, will return to ChinaVenture, a China-focused private equity and venture capital industry researcher and deal adviser he founded six years ago. He will remain as a "venture partner" of SBCI, a part-time role that will allow him to finish some projects and provide investment advice in the future.
Besides Softbank, Japans No 3 mobile phone operator, the fund firm is also backed by US technology giant Cisco Systems Inc Founded in early 2007, SBCI focuses on early state investment and looks at companies in consumer, agricultural, new energy, health, education sectors in China, Chen said.
"In China, you really need to look at the countrys strategy to make investment plans," he said. "There are a few sectors, which do not see any growth in other countries, are still rapidly growing in China," Chen said.
In Asia, private equity investments continued to slide as of the end of 2008, with the fourth quarter seeing $8.4 billion of deals, down from $27.6 billion in the same period of 2007, according to Asian Venture Capital Journal.
SBCI is in no rush to invest this year with its priority on the managing the current portfolio well, Chen said. "Just two or three investments this year is fine," he said. Roughly half of the $100-million fund had been allocated as of the end of 2008, he noted.
In 2003, Chen founded ChinaVenture, which has later expanded into research, consulting, investment banking businesses. The firm also operates a website and organises industry conferences with offices in Beijing and Shanghai. Chen said intended to double ChinaVentures staff to 120 in the next year.

Copyright Reuters, 2009

Comments

Comments are closed.