Angel Fund being established by MPG
On the day Mar, 27th, 2009, Mountain Partners Group (MPG), which is a Swiss investment company, announced that they would build the first institutionalized angle fund in China focusing on the new but potential corporations.
Both Mountain Partners Group and the managing director of Navi Capital Yang Lei would give their efforts to establish the Taishan Angel Fund, the first-round capital of which would be ＄20 to ＄30 million.
This time the average amount to invest to single company would be about ＄500,000, much lower comparing with $2-3 million before.
The global financial crisis made many capital investment companies change their plans from focusing on pre-IPO companies to start-up companies, said Cornelius Boersch, founder of Mountain Partners.
He said the Taishan Angel Fund would focus on the areas which were highly affected by the economic crisis, such as hi-technology, new media and telecommunications.
The invested companies will benefit a lot from the excellent services provided by this Fund. It would provide sufficient capital, advanced technologies and much more convenient channels to China market, Yang said.
Yang was once the CEO of Linktone, a NASDAQ-listed company. During 11 months of this position, he changed the fortune of this company and gained a great success.
He was the man who got the Linktone to be NASDAQ-listed company and made the valuation of the company increase 20 times.
The Moutain partners Group was established by Cornelius Boersch and Daniel S Wenzel in 2004.
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