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By Wang Xing (China Daily)
Updated: 2007-07-24 12:00

Profile 2000: Vice-President and Partner of IDGVC 1999: Assistant General Manager, Tintic Trust & Investment 1994: Manager, Crosby Group, Beijing Representative Office 1987: Research Fellow, Chinese Academy of Social Sciences 1987: Graduated from Peking University, Economics Department

IDG Technology Venture Investment (IDGVC Partners) is one of the most prestigious venture capital firms in China. Since it was first established in 1992 with offices in Beijing, Shanghai, Guangzhou, Boston and the Silicon Valley, the organization has invested in a group of unknown start-ups in the country that later became big names - like Baidu, Focus Media, Sohu, Tencent, EachNet, Dangdang and Ctrip.

One of the earliest US venture capital firms to enter the Chinese market, IDGVC Partners invests in early to growth-stage companies and is focused on hi-tech sectors like the Internet, telecommunications, wireless communications, digital media, IC (integrated circuit) and life science. It manages over $800 million in capital and has an investment portfolio of 100 start-up companies, 30 of which have completed public offerings or successful mergers.

Earlier this month, IDG Partners announced it had successfully raised $510 million in investment for its IDG-Accel China Fund II in just 45 days.

On the eve of the company's new round of investing, Li Jianguang, vice-president and partner of IDGVC Partners, sat down with China Business Weekly reporter Wang Xing to talk about the art of investment.

Q: How much time will IDGVC spend investing the new fund and where do you expect the $510 million to go?

A: We plan to invest the money in the next three years. I think the new investment will go to areas with high growth potential like the Internet, IT, media, education and semi-conductors. These are areas we are already familiar with and will take up 80 percent of our investment. Other new opportunities, like green technology, will take up 20 percent.

Q: Do you have a special interest in any areas or sectors?

A: Internet and telecom value-added services are our long-term focus, and they will continue to be. I think we have a great interest in financial services, radio and broadcasting and the service industry. But there isn't an industry or market we won't invest in. We will take it case by case.

Q: Do you have any concerns as a foreign investor, especially given China' booming domestic stock market?

A: Every foreign investor will have concerns. One is the Chinese government' tightened control over foreign currency. Many foreign investment organizations will face a lot of difficulties from the Ministry of Commerce and the State Administration of Foreign Exchange in applying to invest in China.

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