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Venture Capital
by james on September 23, 2005
Private EquityOnline reports that NEA has recently made an undisclosed investment into a new Chinese VC firm, Northern Light. General Partner Scott Sandell calls his firm's relationship to this company, one akin to a "special LP," whereby Northern Light will not only receive part of its institutional backing from NEA but will also provide NEA with deal flow. That appears to be the daily mantra of more Sandhill Road VCs after a careful reading of their tea leaves.
The new firm, which is being founded by Chinese entrepreneurs Feng Deng, Yan Ke, and Min Zhu, who co-founded and was president of NEA portfolio company
WebEx Communications (NASDAQ: WEBX) will share office space with NEA venture partner Xiaodong Jiang, who is relocating back to China to open an office for NEA there by year end as well.
What's missing in the PrivateEquityOnline article or any NEA release is any mention of the previous controversy surrounding NEA's venture partner, Min Zhu, who joined NEA in 2004, after his forced resignation as WebEx President and Director.
Permalink: NEA Invests in China VC firm, Northern Light
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