MENLO PARK, Calif., April 16, 2013 /PRNewswire/ -- New Enterprise Associates, Inc. (NEA), a leading global venture capital firm, today announced that Carmen Chang has been named Partner and Managing Director, Asia (Ex-India). This newly created role reflects NEA's strategic focus on building a unified global organization that actively invests in Asia and supports its U.S.-based portfolio companies operating or conducting business in these important emerging markets.
Ms. Chang, who joined NEA as a Special Senior Advisor last year, will continue to be based in the firm's Menlo Park office but will spend about one-quarter of her time in China and other emerging markets in Asia. Her initial focus will be on enhancing the firm's deal flow and brand in China and other Asian markets. Ms. Chang will be working closely with Xiaodong Jiang, Managing Director of New Enterprise Associates (Beijing), Ltd., to further deepen NEA's China presence.
"In building out NEA's global platform over the last decade, we've learned that we work best as a deeply integrated team," said Scott Sandell, NEA General Partner and head of the firm's activities in China. "As our U.S. portfolio has become increasingly engaged in Asia, alongside the growth of our China practice, it's critical that we are fully able to leverage NEA's global strength to help our entrepreneurs succeed in both geographies. Carmen, a widely-respected pioneer in U.S.-inbound investing and partnering in China, is already deeply engaged in NEA's U.S. and China operations. We're very excited to formalize her role with this appointment."
NEA first invested in China in 2003, established a local presence in 2005, and today has affiliate offices in Beijing and Shanghai. The firm has invested over $400 million in more than 30 portfolio companies across a range of sectors and stages, including SMIC, Spreadtrum, CITIC Pharmaceuticals (acquired by Shanghai Pharma), LianLian Pay, and Uni-Power Group.
Prior to joining NEA in 2012, Ms. Chang was a Partner at Wilson Sonsini Goodrich & Rosati (WSGR), where she led the WSGR's China practice. Ms. Chang has been involved with many of the seminal technology transactions and companies in China, including the first foreign investments in China Netcom; companies such as Lenovo, Foxconn, Google, Tencent, Netease, CEC, China Mobile and others; the IPOs of SMIC, Spreadtrum, and others; and numerous acquisitions and mergers.
In addition to her role with NEA, Ms. Chang is an affiliate of the Center for International Security and Cooperation at Stanford University and a fellow for the Rock Center for Corporate Governance, a joint initiative of Stanford Law School and the Stanford Graduate School of Business. She also serves on the board of directors of AAC Technologies Holdings, Inc., one of the world's foremost vertically integrated manufacturers of miniature components.
New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $13 billion in committed capital, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record includes more than 175 portfolio company IPOs and more than 295 acquisitions, including investments in technology leaders like Data Domain, CareerBuilder, Diapers.com, Fusion-io, Groupon, Juniper, Macromedia, Salesforce.com, TiVo, and Workday. In the U.S., NEA has two offices in the Washington, D.C. metropolitan area and one in Menlo Park, California. In addition, New Enterprise Associates (India) Pvt. Ltd. has offices in Bangalore and Mumbai, India and New Enterprise Associates (Beijing), Ltd. has offices in Beijing and Shanghai, China. For additional information, visit www.nea.com.
SOURCE New Enterprise Associates, Inc.