Gobi

Tom Tsao, Lawrence Tse and Wai Kit Lau were the founders and general partners of Gobi Partners (an early venture majuscule fund in chinaware). Their first fund Gobi Fund I held its final cockeyed in Nov 2005 at $51.75 mil which was at heart their organise of $50-75mil and raising the first fund had taken them more(prenominal) than 2 years. Their main external ch in allenges included: US assault of Iraq (2003), SARS epidemic in China (travel restrictions) and distractions of US election. just about of the limited partners were strategic investors such as IBM, NTT, DoCoMo, McGrawHill and Disneys Steamboat Ventures all of whom were attracted to the firms focus on IT and digital media. Since its trigger in 2002, the Gobi general partners had invested in 8 companies in their target space of China-focused information technology (IT)/digital media. The companies had made faithful progress and two had recently raised subsequent rounds of financial support at significantly increased valuations. By this stage Gobi itself had expanded, with unrivalled new partner, several additional investment professionals, an office in Beijing to complement its Shanghai base, a summer internship political platform and an incubator for very early stage companies. But the enquire remains, Is it enough to raise a new fund?.

CHINA
?China had 1.



3 billion inhabitants in 2005
?Economic step-up soared since it joined the area Trade Organization (WTO) in 2001
?In 2005, Gross interior(prenominal) Product (GDP) of $2.264 trillion, was twice the level of 2001 with Real growth close to 10% per year (compared to US which had GDP of $12.731 trillion with growth slightly under 3%).
?By 2006, China had endure the worlds fourth-largest economy and third-largest exporter.
?Vast disparities existed within the nation
?Incomes differed dramatically between urban ($1164/yr) and rural areas ($225/yr)
?This means people in the north (Beijing) want different things from people in the siemens (Guangzhou)
?Chinas appetite for technology was growing quickly
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