The Fund will be managed by SBCVC Management II, LP, which is wholly owned by the SBCVC team. The SBCVC team comprises three general partners: Mr. Chauncey Shey, Mr. Peter Hua and Mr. Alan Song. This team, led by Mr. Shey, has worked together since 2000 while managing the Softbank China Venture Capital Fund I, a technology venture fund sponsored by the Softbank Corp. of Japan and UTStarcom of China.

The total size of the Fund is expected to be between $150-200 million. IFC is proposing to invest up to $20 million in a limited partnership interest in the Fund.

20.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	20.0

* These investment figures are indicative

The Fund plans to invest in technology, media and telecom companies that are located in, or whose primary business activities are located in, China.

IFC’s support of the Fund will enable the SBCVC team to transform from a captive fund management company into an institutional quality independent fund management company that will raise successor funds in the market and contribute to the development of the private-equity asset class in China. The Fund will also support between 10 and 20 of the most promising Chinese technology companies to grow and gain access to international capital markets, and adopt best practice in areas of technology development, management and corporate governance. Success for these early and growth stage venture capital companies will mobilize further capital to this asset class by demonstrating that this is a viable investment strategy in China if managed by the right team. IFC’s participation in the early stage of the Fund will help the Fund to attract additional institutional capital and achieve its target size. IFC will also encourage and help the Manager to adopt best practices in the areas of corporate governance and environmental and social sustainability at both the Fund and investee levels. IFC is expected to have a seat on the Fund’s Advisory Committee.

This is an environmental category F1 type 2 project. The Fund will be required to undertake an environmental review of each subproject. The Fund must participate in environmental training as may be required by IFC, develop an environmental management system, and provide an annual environmental performance report to IFC.
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