Walden International, the global venture capital firm, has hired Bill Li as a managing director for its office in Beijing. It has simultaneously promoted two of its vice presidents to managing director in China, Yimin Zimmerer and Hing Wong.
Bill Li has more than 18 years of related experience, including co-founding internet and mobile startups both in the US and China.
Zimmerer is based in Walden's Shanghai office. She focuses on investments in communications, cleantech and medical services.
Wong is based in the Beijing office. His focus is on investments in semiconductors, components and clean technology. Prior to working at Walden International, Wong worked for 15 years in the semiconductor industry, including an eight-year stay at IBM Microelectronics, an arm of the global computer technology company.
Lip-Bu Tan, Walden's chairman, said in a statement that the diverse industry focus of the three managing directors provides the firm with an advantage in competing for investment opportunities in China.
“Their individual strengths in the mobile communications, internet, semiconductor, clean tech, and emerging technology and service areas provide us deep domain knowledge,” he added.
Walden manages assets of about $1.9 billion (€1.2 billion) across Asia and the US. It is planning to raise a $500 million global venture capital fund early next year, a significant amount of which will be invested in China and India, managing director Rajesh Subramaniam told Reuters.
The firm is headquartered in San Francisco and has offices in Palo Alto, Beijing, Hong Kong, Shanghai, Singapore, Kuala Lumpur, Bangalore and Taipei.