Sunevision Targets Silicon Valley Partners
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Sunevision Holdings Ltd, technology flagship of Sun Hung Kai Properties (SHKP), has invested in 5 venture capital funds attempting to help Silicon Valley-based companies to get access to China.
The 5 venture capital funds are: US-based DynaFund, Beijing-based Beijing Technology Fund, Sun Microsystem Inc.-led Asia Java Fund, HK-based CyberTech and Asia-based IncubAsia.
Frederick Chang, director of Investments of Sunevision, said that all these companies are focusing on B2B e-commerce, Internet service and infrastructure.
Through these partnerships, the company expects to build relationships with Silicon Valley-based companies looking for Asia investment opportunities.
He commented that most US-based IT companies has a lack of experience, branding, connections and history of doing business in China.
Chang said that the partnerships between Sunevision and Beijing Technology Fund provides a good channel to receive exposure to the local companies.
Besides the establishment of venture capital fund partnerships, Sunevision invested directly in Internet operations including: i-Advantage, Superhome.net, Superoffice.net, Propertystreet.net, Insurancestreet.net, Red-Dots.com and Sun Technologies.
Chang said more vertical "street" portals will be launched soon.
Sunevision has submitted its application for GEM Board listing.
Commenting on the recent rush to get in on the Tom.com IPO, Chang said that it was largely due to a lack of new listings for Internet companies.