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CIG Venture Capital Seminar Held in Shenzhen
To most people, the Nasdaq stocks adjustment in May is a deadly blow to the internet industry. Does it really mean an end to the internet revolution? "NO", said Mr. Joseph Tzeng, a Chinese-American venture capitalist who has been an active participant in the information and computer industries for the last twenty years. "The internet revolution is not over at all. On the contrary, it is just in the beginning."
Mr. Joseph Tzeng made this remark at the "CIG Venture Capital Seminar" on September 28 in Shenzhen, China, co-hosted by the China Internet Group and the Shenzhen Economic Daily.
The seminars are regularly held by the China Internet Group (CIG), aiming to provide a channel for venture capitalists and Chinese internet startups to better understand each other.
From the perspective of a venture capitalist, Mr. Joseph Tzeng made a detailed analysis of the status quo of the internet industry, the investment orientations of the venture capital and business models for different internet firms. Cited some successful cases of the venture capital and internet combination, such as Sina.com and babycenter, Mr. Tzeng also gave the participants some good advice on how venture capitalists evaluate an internet startup and how to negotiate with VCs.
Why Mr. Tzeng is so sharp in his insight? Well, he himself also runs a venture fund--Crystal Internet Venture Funds. Established in January 1997, Crystal Internet Venture Funds, LP (CIVF) focuses on investing solely in Internet and Internet-related opportunities---internet companies including software, hardware, access, security, content, and vertical applications. It currently has $240 million of capital under management with the primary concentration being the funding and development of early stage companies. Up to now, the Funds has invested in more than 30 internet companies, five out of which have been successfully listed on the Nasdaq, including Sina, Babycenter and Cobalt.
This June, Mr. Tzeng was invited to the China Internet Venture Conference 2000 in Beijing. His speech in that conference moved all the audience and made him one of the most popular speakers. According to sources close to him, Mr. Tzeng, again as a distinguished speaker, will also be present at the "China Info-tech Summit 2000", sponsored by the China Internet Group November 29 to 30 in Shenzhen, China. He will organize a panel discussion about venture capital and investment bank together with high-profile executives from Goldman Sachs and Morgan Stanley.
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