From: IDG-Accel official news

Patrick McGovern, founder and chairman of International Data Group (IDG) and Jim Breyer, Managing Partner at Accel Partners today announced the launch of a $250 million (U.S.) IDG-Accel China Growth Fund to invest in fast-growing enterprises in information technology, healthcare, consumer technologies, and other emerging technologies in the People’s Republic of China.

The IDG-Accel China Growth Fund will be managed by IDG Technology Venture Investment LLC, (IDGVC), a general partnership which has been managing IDG’s venture capital funds in China since 1992. IDGVC has invested in over 140 China-based technology companies and has successfully generated consistant superior returns on its Fund I and Fund II investments over the past 12 years.

“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,” said McGovern. “I have known Jim Breyer and Accel Partners for many years and I’m delighted that Accel Partners is joining us to invest together in these opportunities in China.”

With IDG and Accel as co-anchor investors, the IDG-Accel China Growth Fund will gather additional capital from leading institutional investors worldwide.

“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,” said Jim Breyer, Managing Partner of Accel Partners.

About IDGVC

IDG Technology Venture Investment, Inc. (www.IDGVC.com) has the distinction of being the first international venture capital company to enter the China market. In addition to providing venture capital, IDGVC offers an array of value-added services and in-depth support to the entrepreneurs in the high-technology companies in which it invests in China.

About Accel Partners

Established in 1983 with offices in Palo Alto, California and London, Accel Partners (www.accel.com) has a history of excellence and innovation in the venture capital business. With over $3 billion under management, Accel has helped world-class internet and technology entrepreneurs build over 300 successful companies, many of which have become category-defining enterprises.

Copyright Fund China 2008.

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