Word: newmargin
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Dates: during 2000-2009
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...largest Internet portals. His prescience won the attention of Beijing economic planners eager to set up a local VC firm to jump-start the country's technology sector, and in 1999?with $5 million in state investment and a board of directors made up of senior government ministers?NewMargin entered the market as an odd hybrid of old-school state planning and free-market hustle. It now counts telecom giants like Motorola and Alcatel among its investors and this year, according to Feng, will triple its investment capital...
Spend time with Feng Tao, one of China's most successful venture capitalists, and you will hear a lot about "fake people." His Shanghai-based firm, NewMargin Ventures, weeds through 3,000 proposals a year from businesses hungry for a portion of its $100 million pot. Somehow he's got to sniff out the real deals from the pretenders...
...While many of NewMargin's projects are in IT, Feng still invests in companies that allow him to get his hands dirty. When he discovered Shenzhen-based hazardous-waste-treatment outfit Dongjiang in 2001, it was making a scant $100,000 a year collecting refuse from factories and, according to Feng, treating it so inexpertly that the company caused more pollution. Feng's younger brother Bo, also one of China's leading VCs, advised him against an investment. "It didn't look like a winner," admits Feng. But with his guidance, Dongjiang now boasts clients such as IBM, bringing...
...largest Internet portals. His prescience won the attention of Beijing economic planners eager to set up a local VC firm to jump-start the country's technology sector, and in 1999--with $5 million in state investment and a board of directors made up of senior government ministers--NewMargin entered the market as an odd hybrid of old-school state planning and free-market hustle. It now counts telecom giants like Motorola and Alcatel among its investors and this year, according to Feng, will triple its investment capital...
While many of NewMargin's projects are in IT, Feng still invests in companies that allow him to get his hands dirty. When he discovered Shenzhen-based hazardous-waste- treatment outfit Dongjiang in 2001, it was making a scant $100,000 a year collecting refuse from factories and, according to Feng, treating it so inexpertly that the company caused more pollution. Feng's younger brother Bo, also one of China's leading VCs, advised him against an investment. "It didn't look like a winner," admits Feng. But with his guidance, Dongjiang now boasts clients such as IBM, bringing...