Sequoia's Shen remains top Asia VC in Midas List
Seven Asia-based investors have made it on to the 2013 Forbes Midas List of leading global venture capitalists. This compares to 10 last year, although an increasing number of US resident members are known for backing Chinese and Indian start-ups.
Neil Shen of Sequoia Capital remains the highest placed Asia-based investor at 15, up from 24 in 2012. GGV Capital's Jenny Lee has shot up the list from 94 to 36, supplanting Andy Yan of SAIF Partners as the second-highest Asia entrant. Yan is down to 69 from 27 last year.
New entrants include Quan Zhou of IDG-Accel and Hans Tung of Qiming Venture Partners, at 99 and 100, respectively. Those dropping off the list include Dongliang Lin of IDG-Accel, Thomas Ng of GGV, Erhai Liu of Legend Capital, Ruby Lu of DCM and Subrata Mitra of Accel India.
Forbes compiles the rankings using data from IPOs and M&A transactions of $200 million or more from the past five years. It looks at companies from the US, Europe, Israel, China and India. While imperfect - the formula is based on exit statistics, so doesn't factor in returns by money multiple or IRR - it offers an interesting picture of global VC trends.
One of these trends is the growing importance of Asia. Nine entrants on the list have China and India companies as their "big deal," with the likes of Qihoo 360, 21Vianet Group, Tudou, MakeMyTrip, YY, Vancl, Renren, Dangdang and Xiaomi getting a mention.
The actual Asian exposure is much harder to gauge - according to Forbes columnist Rebecca Fannin, 20% of the VCs have completed at least one investment in China (17) or India (3). Several of the more senior executives have been responsible for rolling out Asia strategies, even if they haven't personally overseen deals in the region.
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