DragonVenture Appointed Consulting Agency of Record by Dongguan Municipal Government in China

Dongguan, China. February 7, 2002

Silicon Valley based cross-Pacific consulting and venture capital firm DragonVenture, Inc. (www.dragonventure.com) today announced it has been appointed the consulting agency of record of the city of Dongguan, Guangdong Province, China, by the city’s Bureau of Foreign Trade and Economic Cooperation.

“DragonVenture will focus in organizing business entities from the U.S. to visit Dongguan for investment, as well as promoting the overall image of Dongguan." Says Tony C. Luh, Managing Director of DragonVenture. “Dongguan is home to over 13,800 foreign manufacturers tapping into a well-organized and low-cost labor force of China that congregates in Dongguan." Luh explains, “it is an attractive place to be for manufacturers that require massive labor force."  “In addition," Luh elaborates, “Dongguan is following the footsteps of its neighboring cities Guangzhou and Shenzhen now. Dongguan plans to have its first high technology park, one that will house hundreds of high tech companies, unveiled to the public soon."
 
“DragonVenture is a reputable cross-Pacific consulting and venture capital firm from the U. S.;" says Dongguan Vice Mayor Zhang Shun Guang, “it is effectively managed by Chinese-Americans who understand China."
 
“We are pleased to appoint DragonVenture as our consulting agency of record. We believe DragonVenture can help Dongguan with our overall image and bring potential U. S. investors to Dongguan to tap into our vast labor force." Adds Jiang Ling, Director of the Bureau of Foreign Trade and Economic Cooperation of Dongguan.

DragonVenture’s presence in the Pearl River Delta in China has been significant. This is the third major signing since a joint IC/seminconductor venture fund deal with Shenzhen VC, the largest VC firm in China, was announced in October, and a deal to co-manage an M&A fund with Guangzhou’s Canton Venture Capital firmed up in December respectively in 2001.

“DragonVenture’s strategy is to be a true cross-Pacific bridge between China and the U. S. China will be an incredibly huge market for U. S. companies, high tech or not, to tap into." Says K. Bobby Chao, Chairman of DragonVenture, who, fittingly as one of the original founders of Cadence Design Systems (NYSE: CDN), is currently in charge of the joint IC/semiconductor fund project between DragonVenture and Shenzhen Venture Capital.
 

Letter of Appointment from Dongguan Municipal Government
Click to read the letter

About DragonVenture, Inc.

DragonVenture, Inc. is a premier cross-Pacific venture capital, consulting and soft incubation company specializing in bridging the U.S. and Greater China marketplaces. DragonVenture manages funds that invest in emerging companies in the areas of telecommunications, Internet infrastructure, IC & Semiconductor, and Linux. The company provides cross-Pacific consulting services and facilitates cross-Pacific strategic alliances and/or partnerships, and mergers and acquisitions through DragonVenture's M&A Fund. DragonVenture, Inc. is headquartered in Silicon Valley and also has a branch office in Beijing, China. DragonVenture is working closely with numerous U. S. firms on their China strategy while assisting a handful of Greater China companies to expand business horizons into North America.
For more information visit www.dragonventure.com.