IDG VC, Accel Partners Found IDG-Accel China Growth Fund II
From: “China Business Daily News”
This is the biggest venture capital fund in value in early stage and growth stage in China. The fund, with an investment period of 11 years, will pour capital into the fast-developing companies in the country, according to people familiar with the matter.
Accel Partners is the one of the largest venture capital firms in the US and it is as famous as KPCB (Kleiner Perkins Caufield & Byers) and Sequoia Capital in Silicon Valley.
Boston-based IDG had set up a Sino-foreign joint venture in China in 1980, and then it created the first US venture capital agency in the country in 1993.
IDG VC Partners has made investment in a number of Chinese companies such as Nasdaq-listed Sohu.com Inc., Ctrip.com, Baidu.com, Inc., JRJ.com and Home Inns as well as Hong Kong-listed Tencent Inc. and Kingdee International Software Group Company Limited.
Copyright Fund China 2009.
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