Northern Light Venture Capital Closes $350 Million Second Fund

Fund II targets high growth opportunities in China

MENLO PARK, Calif. and BEIJING, Jan. 30 /PRNewswire/ -- Northern Light
Venture Capital (NLVC), a China-focused venture capital firm, today announced
the closing of Northern Light Venture Fund II, a US$350 million dollar venture
capital fund targeting investments in technology, media and
telecommunications,
and consumer-related companies in China. Fund II has attracted institutional
investors from the United States, Europe and Asia, including government funds,
endowments and non-profit foundations.
Fund II continues to build upon NLVC's 2005 inaugural fund, which has
invested in over 20 companies in consumer and technology sectors. Fund II will
continue to focus on primarily early stage opportunities in businesses that
either target China market opportunities or leverage global opportunities from
a China base. NLVC's portfolio companies include Chinese fabless
semiconductor companies -- Actions Semiconductor and Spreadtrum
Communications -- who have gone public on NASDAQ. They also include private
companies such as; Redbaby, a leading multi-channel retailer for middle-class
households, LianLian, the leading mobile and micro payment services company in
China, and Hanting Hotels, China's first mid-scale limited service hotel
chain.
"There are exciting market opportunities in China and Northern Light
Venture Capital is proud to play a role in supporting entrepreneurs build
globally recognized enterprises from within China," said Feng Deng, Founding
Managing Director of NLVC. "We are fortunate to have many friends in the
entrepreneurial, venture capital, and limited partner community that strongly
support our mission and this is will be reflected in our Fund II activity."
NLVC's special limited partners, Greylock Partners and New Enterprise
Associates (NEA), two of the leading venture capital firms in the United
States, will continue to provide strategic advisory support to the firm during
Fund II as well as evaluate opportunities to co-invest directly into portfolio
companies.
"We are delighted to see the very strong response that NLVC has received
from investors in Fund II. The team's extensive expertise and deep
understanding of the Chinese economy and international business has helped
NLVC emerge as one of the leading venture firms in China. We are excited to
support them as they step into the next phase of growth," said Scott Sandell,
General Partner, New Enterprise Associates.
Aneel Bhusri, Partner at Greylock added, "We congratulate NLVC's closing
of their second fund. NLVC is rapidly establishing itself as a proven leader
among Chinese venture firms. We strongly believe in the Northern Light team's
ability to support entrepreneurs as they build China's most promising
ventures."
About Northern Light Venture Capital
Northern Light Venture Capital (NLVC) is a China-focused venture capital
firm specializing primarily in private opportunities in China-based consumer
and technology-related businesses across various industries. NLVC was founded
in 2005 and led by China-born executives with significant operational and
entrepreneurial expertise in both China and the U.S. NLVC is headquartered
Beijing with offices in Shanghai and Menlo Park, CA. For additional
information, visit http://www.nlightvc.com.
SOURCE Northern Light Venture Capital

Mary Placido of GolinHarris, +1-415-274-7902, mplacido@golinharris.com, for
Northern Light Venture Capital