China funds: Cult of personality
Wang Gongquan's apparent departure from China’s private equity industry was nothing if not dramatic. An early-stage investment pioneer with IDG Venture Partners, Wang went on to found CDH Venture Capital, notably guiding Qihoo 360 to the US markets in March of this year.
CDH Venture raised $210 million for its first fund, which launched in 2006, and then $505 million for a second fund in 2007, with CalPERS among the investors, according to AVCJ Research. Barely two months...
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