NEA names managing director for Asia
VC firm New Enterprise Associates (NEA) has appointed Carmen Chang as Asia partner and managing director. She is charged with enhancing the firm’s deal flow and brand in China and other Asian markets.
"As our US portfolio has become increasingly engaged in Asia, alongside the growth of our China practice, it's critical that we are fully able to leverage NEA's global strength to help our entrepreneurs succeed in both geographies," said Scott Sandell, NEA general partner and head of the firm's activities in China.
NEA has invested over $400 million in more than 30 portfolio companies since 2003, including NASDAQ-listed players SMIC and Spreadtrum, CITIC Pharmaceuticals, LianLian Pay and Uni-Power group. The firm has affiliate offices in Beijing and Shanghai.
Chang, who joined NEA as special senior advisor last year, will be based in the firm's Menlo Park office but will spend about three months a year in China and other emerging markets in Asia.
She was previously with law firm Wilson Sonsini and has been involved in several technology transactions in China, working with companies such as Lenovo, Foxconn, Tencent and China Mobile, as well as the IPOs of SMIC and Spreadtrum.
With about $13 billion in committed capital, NEA invests in technology and healthcare companies. More than 175 of its portfolio companies have gone public.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.