GGV Capital Continues Expansion in the U.S. and China with Appointments of Glenn Solomon and Jenny Lee as Managing Directors
Menlo Park, CA – March 13, 2006 – Granite Global Ventures (GGV), an expansion-stage venture capital firm, announced today that it has bolstered its investment team with the appointments of Glenn Solomon and Jenny Lee as managing directors. Solomon will be based in GGV’s Menlo Park office, while Jenny Lee will continue to be based in GGV’s office in Shanghai.
Prior to joining GGV, Glenn Solomon led Partech International’s software and internet group, and was responsible for leading successful investments in the storage, security and e-commerce sectors. Solomon’s past investments include: Broadbase Software (acquired by Kana), Digital Island (acquired by Cable & Wireless), Pentasafe (acquired by NetIQ), Vignette (NASDAQ:VIGN) and Datacenter Technologies (acquired by Veritas/Symantec). Solomon previously worked with SPO Partners, a San Francisco-based private investment partnership, and Goldman, Sachs & Co.
“I’ve known Glenn for several years, and his investment approach fits well with our strategy for expansion-stage venture capital. His deep understanding of e-commerce and enterprise computing helps strengthen our global investment team,” said Hany Nada, co-founder and managing director, Granite Global Ventures.
“Granite Global Ventures presents a tremendous opportunity both personally and professionally,” said Glenn Solomon, managing director, Granite Global Ventures. “It’s a leader in the VC community in the U.S. as well as in Asia, and I am excited about joining this team of proven professionals and contributing to the firm’s further success.”
Jenny Lee brings with her more than 12 years of experience in operations, investment banking and venture investing. Lee joined GGV in 2005 and recently led GGV’s investments in Oriental Wisdom, Bokee, and ChinaCars. Prior to joining GGV, Lee was a VP at JAFCO Asia and was responsible for its investments in technology companies based in China and Hong Kong with a concentration on semiconductor, internet and services sectors. Lee was previously an investment banker at Morgan Stanley and was responsible for identifying potential investment opportunities within the technology and telecom sectors in Asia.
“Jenny is a trusted colleague and an important asset to our team,” said Jixun Foo, managing director of GGV who co-manages the firm’s Shanghai office with Ms. Lee. “Her expertise and hands-on experience working in the venture capital industry, particularly on-the-ground in China, enables her to identify and invest in high-potential opportunities that are essential to the continuing success of Granite Global Ventures.”
About Granite Global Ventures
Granite Global Ventures is an expansion-stage venture capital firm focused on information technology and healthcare companies. The firm was founded in 2000 by four managing directors: Scott Bonham, Joel Kellman, Hany Nada, and Thomas Ng. Granite Global Ventures brings a depth of experience in investments, cross-border business development activities, mergers and acquisitions, and IPO transactions. With $400 million under management, its investments include Alibaba.com (combined with Yahoo!) and Hurray Solutions (NASDAQ:HRAY). Past investments include Kintana (acquired by Mercury Interactive), NetScaler (acquired by Citrix), Oculex (acquired by Allergan), and P-Cube (acquired by Cisco Systems). Three members of GGV’s investment team were featured recently on the Forbes Midas List, which ranks the best dealmakers in high-tech and life sciences.
Granite Global Ventures (www.ggvc.com) has offices in Menlo Park, CA, Shanghai, and Singapore.
Further Information
Granite Global Ventures
Hany Nada
650-475-2150
hnada@ggvc.com
Press/Analyst Inquires
LEWIS PR
Adriana Gascoigne
415-992-4424
adrianag@lewispr.com