Rich May News: 2005
September 26, 2005
Rich May Client, Trident Capital, Partners with Mustang Ventures, a New China-Focused Venture Capital Firm
Rich May client, Trident Capital, a national venture capital firm focusing on information technology, recently announced it is entering into a strategic partnership with Mustang Ventures, a new venture capital firm investing in technology and technology-enabled service companies in China. In connection with this relationship, Trident is investing $10 million in the Mustang I, L.P., Mustang Venture’s initial venture capital fund.
Mustang Ventures is a U.S. venture capital firm whose principals spend most of their time on the ground in Shanghai, China. Mustang was initially established in September 2004 and recently completed its final close at $40 million. The Mustang I Fund is managed by general partner, Rob McCormack, and special limited partner, Leonard Liu.
Don Dixon, Trident’s co-founder and managing director, will serve as a member of Mustang’s investment committee. Through its relationship with Mustang, Trident expects to gain insight into the business environment in China and how it might impact Trident’s areas of focus, and to generate business development opportunities and potential co-investment opportunities. Trident has long maintained an active presence outside the U.S., including several direct investments in Europe and over 1,500 employees in India at its existing portfolio companies.
“China is rapidly emerging as a world power, and there’s never been a better time to invest there,” said Dixon. “Rob McCormack has been our colleague here at Trident since 1993 and we fully support him and Leonard Liu in their new endeavor. Rob and Leonard possess a unique combination of technology acumen, investment experience and first-hand knowledge of building successful global businesses in China. We are confident that they will provide expert management and insight into Mustang Fund I, which offers a strategic fit with Trident’s investment strategy and many of the investments in our six funds.”
Mustang will leverage McCormack’s and Liu’s expertise in Chinese business practices, investment opportunities, and culture and focus principally on companies in the education, outsourcing, semiconductor, mobile and Internet sectors. McCormack explained “We seek to build world-class companies and brands over the next five to ten years by leveraging the best of China to win first in China and then worldwide. Don Dixon brings a superb track record in technology investments to help guide the fund and we are honored to have Trident Capital as one of the fund’s primary investors.”
About Trident Capital
Trident Capital is a leading venture capital and private equity firm with over $1.5 billion of capital under management, including $400 million raised in it’s recently closed Fund VI. Trident’s core investment focus has remained consistent since inception in 1993. Trident focuses on investments in the business services, information services and software sectors across a variety of industries. Within its sector focus, Trident invests across multiple stages, including traditional venture capital investing as well as investments in micro-cap public companies, buyouts and consolidations platforms. The firm has made over 100 investments since inception. Trident has investment offices in Palo Alto, California and Westport, Connecticut. For more information, visit the firm’s web site at www.tridentcap.com
About Mustang Ventures
Mustang Ventures is a US venture firm investing in technology and technology-enabled services companies that leverage China’s attractive cost structure, large pool of intellectual talent and/or end market. Mustang’s partners bring together more than 50 years operating experience and 10 years of investing experience. Our investing team is led by Rob McCormack, who has completed more than 25 investments in private companies, and our operating team by Leonard Liu, who brings more than 30 years experience in the IT industry, building teams and scaling operations at IBM, Acer, Cadence Design Systems, Walker Interactive Systems, ASE and Augmentum – three of which he grew to sales greater than $1 billion. Mustang principals operate out of the US, but spend most of their time on the ground in Shanghai, China.
About Rich May
Rich May’s diverse practice embraces the organization and operation of business ventures, venture capital, private placements, hedge funds, public offerings, technology licensing, mergers and acquisitions, contracts, joint ventures, internet and e-commerce law, employee relations, intellectual property, litigation and dispute resolution, energy, telecommunications, public utilities, wealth planning and real estate. Rich May provides superior legal and strategic counsel through its extraordinary commitment to clients’ success, outstanding professional competence and straightforward ability to communicate. Rich May embraces an entrepreneurial spirit and maintains a mission execution culture that distinguishes Rich May from other law firms.
Rich May combines the stability and experience of one of Boston’s oldest preeminent law firms with the innovative spirit and energy of a venture catalyst intensely focused on serving high-tech entrepreneurs, emerging companies and investors in New England and throughout the United States.
For more information, visit www.richmaylaw.com.
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