Northern Light Closes Second Fund

Northern Light Venture Capital has closed its second fund with $350 million in capital commitments. The China-focused VC firm's special limited partners are Greylock Partners and Nerw Enterprise Associates.

 

PRESS RELEASE
Northern Light Venture Capital (NLVC), a China-focused venture capital firm, today announced the closing of Northern Light Venture Fund II, a US$350 million dollar venture capital fund targeting investments in technology, media and telecommunications, and consumer-related companies in China. Fund II has attracted institutional investors from the United States, Europe and Asia, including government funds, endowments and non-profit foundations.

Fund II continues to build upon NLVC's 2005 inaugural fund, which has invested in over 20 companies in consumer and technology sectors. Fund II will continue to focus on primarily early stage opportunities in businesses that either target China market opportunities or leverage global opportunities from a China base. NLVC's portfolio companies include Chinese fabless semiconductor companies — Actions Semiconductor and Spreadtrum Communications — who have gone public on NASDAQ. They also include private companies such as; Redbaby, a leading multi-channel retailer for middle-class households, LianLian, the leading mobile and micro payment services company in China, and Hanting Hotels, China's first mid-scale limited service hotel chain.

 

“There are exciting market opportunities in China and Northern Light Venture Capital is proud to play a role in supporting entrepreneurs build globally recognized enterprises from within China,” said Feng Deng, Founding Managing Director of NLVC. “We are fortunate to have many friends in the entrepreneurial, venture capital, and limited partner community that strongly support our mission and this is will be reflected in our Fund II activity.”

NLVC's special limited partners, Greylock Partners and New Enterprise Associates (NEA), two of the leading venture capital firms in the United States, will continue to provide strategic advisory support to the firm during Fund II as well as evaluate opportunities to co-invest directly into portfolio companies.

 

“We are delighted to see the very strong response that NLVC has received from investors in Fund II. The team's extensive expertise and deep understanding of the Chinese economy and international business has helped NLVC emerge as one of the leading venture firms in China. We are excited to support them as they step into the next phase of growth,” said Scott Sandell, General Partner, New Enterprise Associates.

 

Aneel Bhusri, Partner at Greylock added, “We congratulate NLVC's closing of their second fund. NLVC is rapidly establishing itself as a proven leader among Chinese venture firms. We strongly believe in the Northern Light team's ability to support entrepreneurs as they build China's most promising ventures.”

 

About Northern Light Venture Capital

Northern Light Venture Capital (NLVC) is a China-focused venture capital firm specializing primarily in private opportunities in China-based consumer and technology-related businesses across various industries. NLVC was founded in 2005 and led by China-born executives with significant operational and entrepreneurial expertise in both China and the U.S. NLVC is headquartered Beijing with offices in Shanghai and Menlo Park, CA. For additional information, visit http://www.nlightvc.com .