Sequoia Capital has promoted Shanghai-based managing director Steven Ji to partner, a source confirmed to PE Asia.
Sequoia declined to comment.
Ji has led a number of transactions at the firm since he first joined in 2005. These include its investment in Chinese social networking company Comsenz, which was sold in August last year to internet company Tencent for a reported $60 million; and in fast food restaurant Country Style Cooking, which raised $82.5 million in its initial public offering (IPO) on the New York Stock Exchange in September last year.
Prior to joining Sequoia Capital in 2005, Ji served as assistant vice president in venture capital firm Walden International, and senior investment manager at Vertex Venture Holdings, the venture capital arm of Singapore state investor Temasek Holdings.
On the investment front, the firm in August last year invested an undisclosed sum in Chinese online healthcare product vendor 99times.cn. The deal followed a $20 million investment in April in mobile security provider NetQin Mobile alongside GSR Ventures, Ceyuan Ventures and Fidelity Asia.
Founded in 1972, Sequoia manages more than $10 billion of assets across almost 30 funds, according to its website. Currently, Sequoia China manages approximately $2 billion and RMB4 billion across its offices in Beijing, Shanghai and Hong Kong.
While high-profile in China, the firm was also the most active private equity firm in India in 2010, securing a total of 15 investments, according to data from Venture Intelligence, a research service focused on private equity and M&A activities in India.