Redpoint China I Will Target Early Stage Investments in Consumer and Enterprise Technology.
Today Redpoint Ventures announced that it has closed Redpoint China I, a $180 million fund to invest in early stage consumer and enterprise technology companies based in China. With offices in Beijing and Shanghai, Redpoint China will help the next generation of entrepreneurs through its deep local expertise and access to Redpoint’s global network, insights and resources.
Redpoint China will be led by David Yuan, Tony Wu and Reggie Zhang who have extensive experience investing in the Chinese start up market and a proven track record of successful exits with companies like Qihoo360, iDreamSky and Domob. The fund will invest in about 25 companies with initial investments expected to average $1-4 million.
“China’s startup ecosystem has never been more promising due to the growing class of serial entrepreneurs, strong government support and accelerating global technology developments,”
said David Yuan, partner, Redpoint.
“We’re excited to continue the positive momentum we have experienced in China based on the success of our portfolio, our team’s growth and the increasing number of compelling investment opportunities.”
“Since we first entered the China market in 2005, we have seen first-hand how the strategic bond between our US and China teams has helped founders build exceptional companies across borders,”
said Chris Moore, partner, Redpoint.
“The U.S. and China are now two of the world’s largest markets in the world for technology innovation and we look forward to our continued close collaboration.”
Since 2005, Redpoint Ventures has actively invested in over 35 companies in China. It has realized a number of successful exits, including CGEN Digital Media (acquired by Focus Media), Qihoo360 (NYSE IPO), iDreamSky (Nasdaq IPO), and Domob (acquired by Blue Focus). More recently, Redpoint has invested in high profile market leaders including Yixia, China’s largest mobile video platform; APUS, one of the fastest growing global platforms and Android apps, and Renrenche, China’s largest used-car marketplace. Over 90% of Redpoint’s investments in China have been in early stage, where Redpoint Ventures has been either the founding or the first institutional investor.