Ex-Qiming partner Hans Tung joins GGV Capital

Tung's departure from Qiming, where he spent six years, was in part driven by his desire to relocate to the US. He joined the firm from Bessemer Venture Partners, where he initiated the China investment practice, and before that was a founding member at Taipei-based Crimson Asia Capital.

At Qiming, Tung focused on internet and consumer deals, including mobile phone brand Xiaomi, online retailer Vancl, social networking site Kaixin001 and mobile game developer Forgame. The latter recently went public in Hong Kong, raising $206 million.

Xiaomi, which Qiming and Morningside Technologies backed from inception, stands out as a particular success story. Xiaomi received 300,000 pre-orders in the first 34 hours for its debut affordable smart phone and a Series D round of funding, which closed in August, valued the company at $10 billion.

"Hans brings a unique mix of experience in emerging trends in mobile and consumer Internet and thoroughly understands the challenges and opportunities for companies looking to expand from the US to China and vice versa," GGV said in a statement. The firm added that the addition of Tung gives it added reach at a time when mobile, cloud computing and vertical e-commerce companies are experiencing rapid growth.

Founded in 2000, GGV has completed 120 investments, typically committing $5-25 million in expansion financing to teams that are starting to scale up and need growth capital. In the last three years, 14 portfolio companies have gone public. In China, GGV has backed the likes of Alibaba, Tudou, YY, Qunar, Chukong Technologies and UCWeb.

The firm is currently investing its fourth fund, which closed at $509.9 million in 2011.

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