Sequoia Capital is a pioneer of the venture capital space, having invested in such game-changing companies like Apple (NASDAQ: AAPL), Cisco (NASDAQ: CSCO), and Google (NASDAQ: GOOG). No doubt, they've helped create many millionaires -- and some billionaires.
Well, the same thing is now happening in China, although the wealth management business in the country is still in the early stages.
As a result, Sequoia wants to be a player and has invested several million for a 20% stake in Noah Private Wealth Management Centre, which is headquartered in Shanghai. With the cash infusion, the firm can expand into other cities as well as add new consultants and perhaps some tech systems.
It's a very savvy move. And, yet again, it should result in a big payday for Sequoia.
Visit DealProfiles.com if you want to check out other recent venture capital fundings.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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Reader Comments (Page 1 of 1)
10-23-2007 @ 11:47PM
TheChinaPerspective said...
While it is undeniable that as China's economy prospers so will the wealth management business, but with limited vehicles for investment (primarily real estate and an irrational stock market) for local chinese this makes the wealth management business not an easy one. It will be interesting to see how things change over the next few years.
10-24-2007 @ 6:27AM
SEO in China said...
Are foreign venture capitalists free of any government intervention when investing in Chinese private companies?
Patrick
http://www.seo4china.com
10-25-2007 @ 11:34AM
yelohbird said...
Not generally, unless you are investing in certain more sensitive industries, such as traditional media.
Check out Sequoia's China website...Noah is hardly the first investment they've made.