CID MBA Entrepreneur Awards held in Shanghai
Nov 25, 2011
The 2010-2011 CID MBA Entrepreneur Awards was held at Shanghai Jiao Tong University from November 18th to 20th 2011. Selected MBA entrepreneur teams from thirteen top-tier universities in China, including Peking University, Tsinghua University, Shanghai Jiao Tong University (SJTU), etc. joined the final competition.
CID MBA Entrepreneur Awards is a successor of “Antai MBA Business Plan Competition” held by Shanghai Jiao Tong University (SJTU) since 2002. In 2007, The CID Group sponsored the competition which was then renamed and expanded as “CID MBA Entrepreneur Awards “. As one of the most recognized MBA business plan competitions in the country, this year’s event attracted the largest number of participating universities since 2002.
The judge panel consisted of seven reputable experts and industry veterans, including Chen Qiwei (professor of SJTU and chairman of ABC Capital), Tony Huang (partner of The CID Group), Qian Xuefeng (founder of New Access Capital), Qu Weidong (Managing Director of Zero2IPO Group), Wang Pu (founder of Alliance PKU Management Consultants), Wang Zhidong (CEO of Dianji Technology), Yu Gang (Chairman of YiHaoDian.com).
After two-day’s fierce competition, the First Prize was won by an online comic sketching and sharing platform from SJTU. “Youhui Namecard System” from Nanjing University and “Ledian Electronic Menu” from Tsinghua University were awarded the Second Prize. Third Prize went to “Financial Education Service Platform” from Wuhan University, “Scissors” from Peking University and “Mama Social Group” from Nankai University. The First Prize, Mr. Lu Lei and his team, also received “Potential Entrepreneur”special award from the judges.
An investment matching event was also held after the awards. Institutions interested in early stage investments including The CID Group, New Margin Ventures, NCE Ventures and Antai MBA Entrepreneur Fund had in-depth discussion with the MBA entrepreneurs, providing business and financing advices, A number of tentative cooperation agreements were reached after the matching event.
Merger of 56.com with Renren (NYSE: RENN)
Oct 27, 2011
The CID Group is very pleased to announce the successful completion of merger of Wole Inc (56.com), one of portfolio companies of CID Greater China Venture Capital Fund II, LP, with NYSE listed Renren Inc (NYSE:RENN) on October 26, 2011. Wole was wholly acquired in amount of US$80M, nearly 2 times of CID’s average investment cost by pro-rata of total merger consideration.
Founded in 2005, Wole Inc, the leading online video website in China, hosts more than 80 million online videos, which include user generated and professionally created video clips. With over 50M registered users, the company generated revenue of approximately US$7.5M for the first eight month of 2011, marking 73% growth compared to the same period in 2010.
CID once again demonstrated its value added in helping the company through integration of CID’s resources. Specifically, CID assisted the company strength its relation with entertainment resources and facilitated company’s strategic partnership with online video platform provider.
The CID Group invested in total of US$2.3 million in Wole Inc. which accounts for around 3% of the holding interests.
Moai listed on Taiwan OTC Exchange on September 29, 2011
Sep 29, 2011
Moai Electronics Corporation (5250 TT), one of the portfolio companies of Asia Pacific Genesis Venture Capital Fund L.P., has completed its listing with the listing price of NT$20 on Taiwan OTC Exchange on September 29, 2011.
Established in July 2003, MOAI Electronics Corp. is a professional IC/IP design company which has leading analog, digital and mix-signal technology to design, develop and sell highly integrated semiconductor chips. The company generated revenue of NT$182M for the first 8 months of 2011, marking 19% growth compared to the same period in 2010.
The CID Group invested in total of US$1.6 million in Moai which accounts for approximately 10% of the holding interests.
The CID Group Honored with “The 1st Annual Monte Jade Innovation Award”
Aug 25, 2011
The CID Group was awarded “The 1st Annual Monte Jade Innovation Award” on August 25 from Monte Jade Science & Technology Association. The award was presented by Vincent Siew, Vice President of Taiwan during the ceremony. Along with Vice President Siew, Prime Minister Wu Den Yih, Minister of Council for Economic Planning and Development Dr. Christina Y. Liu and Minister of State Executive Yuan Dr. Ovid J.L Tzeng attended the ceremony.
The award was given in recognition of CID’s remarkable contribution in developing Taiwan’s emerging industry through its systematic investment strategy, unique industry analysis and innovative know-how management.
Monte Jade Science & Technology Association being one of the most important information exchange platform for Global Chinese IT talents was established by a group of high-tech Chinese American executives in Silicon Valley in 1989. Currently there are sixteen Monte Jade chapters worldwide with more than 20,000 members.
CID Established New Office in Chongqing
Aug 22, 2011
We are delighted to announce that The CID Group (“CID”) has expanded to establish a new office in Chongqing, China in August 2011 for further implementing our investment strategy of industry migration.
Chongqing, for its geographical advantage and importance in the national economic development strategy, will be constructed as a key economic center in western China. With the series of the preferential policies, a large number of major IT companies, such as HP, Foxconn, Quanta and Inventec have already migrated to Chongqing and of which are expected to create emerging investment opportunities from supporting industries such as key components, material, IC design, HR training and placement, etc.
CID has received great support from Chongqing government to expand its operation. On 22nd August, Mr. Weng Jieming, Standing Committee Member of CPC Chongqing Municipal Committee and Director of Liangjiang New Area Administrative Committee, inaugurated “CID Kai Chuang Investment Fund” (“the Fund”), which is a wholly owned investment vehicle of CID's 400M Greater China Venture Capital Fund III. With the government’s support to encourage foreign investments, The Fund will be benefited from a more streamlined investment process when making investments nationwide.
Following Chongqing’s industry development trend, the Fund will have the investment focus in areas of high tech, such as internet, cloud computing, optoelectronics material, and area of related services, such as health care, education, HR services and, franchise etc.
Persistently implementing investment strategy of leveraging our experiences and resources built up in the value chain, CID will continue to strive to achieve superior investment returns.
2011 The CID Group Annual Conference
Jul 15, 2011
CID's 2011 Annual Greater China Conference, for the first time, will be held in Taipei, Taiwan on September 22-23 with the theme of “Bridging Taiwan's Strength toward China's Economic Growth”. Following topics will be covered during the conference:
- CID Funds' Activities and Performance Update
- Opportunities from Taiwan's Economic Transition and Development
- Prospect for the Development of Taiwan's High Technology Industries
- Cross-Strait Industry Integration