GSR hires former Baidu CTO as partner in Beijing
GSR Ventures has appointed Yinan Li, a serial entrepreneur who has previously served as chief technology officer at Baidu, as a venture partner. Li, 41, will be based in Beijing and focus on investments in the China wireless and internet technology spaces.
Most recently, Li was CEO of Bejing Wuxian Xunqi Information Technology, which provides integrated information services as part of China Mobile's 12580 hotline platform. Prior to joining Baidu, he became Huawei's youngest ever vice president, aged 27, and was responsible for the company's R&D operations.
Li holds a master's degree and a bachelor's degree in optical engineering from Huazhong University of Science and Technology in Wuhan.
"He understands our fervent desire to build world-class technology companies in China," Sonny Wu, managing director of GSR, said in a statement. "His combination of strengths complements the GSR partnership: years in operations as an industry executive, instrumental relationships with well-known technology entrepreneurs, and an incessant drive to have our companies succeed."
GSR, which was founded in 2004, focuses on technology start-ups. It has more than 50 companies in its portfolio and more than US$1 billion under management. The firm closed its fourth fund in July at $350 million after it was substantially oversubscribed.
Two of GSR's portfolio companies have gone public so far this year. Current investments include Qunar - the travel website in which Baidu recently took a majority stake - group-buying site Lashou, and SunSun Lightning, an LED developer and manufacturer.
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