DFJ DragonFund, Announces Grand Opening of China Venture Fund

October 15, 2006 - DFJ DragonFund, a venture capital fund to invest in China-centric technology companies, is pleased to announce the opening of three new offices located in Shanghai, Beijing and Silicon Valley.

DFJ DragonFund was formed by DragonVenture and Draper Fisher Jurvetson, a leading global venture capital firm. DFJ Dragon plans to invest in a broad range of technology companies with a common focus on China. The Fund has already invested in five companies: Miartech, a smart-energy semiconductor design house; DraTek, a provider of wireless innovation for next generation mobile search; YeePay, a supplier of virtual payment solutions; DeviceVM, a virtual PC platform; and TongCard, a loyalty marketing solutions provider.

DFJ DragonFund was formed by a group of seasoned China and technology investors. The Managing Directors – Bobby Chao, Tony Luh, Larry Guanxin Li, and Andy Tang have all previously worked with leading technology companies, including VA Linux, National Semiconductor, Cadence Design Systems, Motorola, and Intel Corporation. In addition, the team has extensive experience in high-tech venture capital investment, having previously worked with the firms Infineon Ventures, Shanghai Venture Capital, UMAX Ventures, and Technology Associates Management Company. Select investments overseen by the DFJ Dragon team include AboveNet (ABVT), Oplink (OPLK), Omnivision (OVTI), NetScreen (JNPR), OSA Technologies (AVCT), Mobile365 (SY), Actions IC (ACTS), MicroPort Medical, Yuhua Tech, Broadbus (MOT), NuTool (ASMI), VA Linux, and Zettacom (IDTI).

The fund has a total of eleven investment professionals, including five Managing Directors and eight investment managers. Recent hires include Oliver Li of Sino Century Venture Capital fund (Shanghai), Kerin Lanyi of Seven Hills Partners (San Francisco), Simon Wang of Bain & Company (Shanghai), Shirley Lin of Sun Microsystems (Silicon Valley), and Gary Qi of Baidu (Beijing). DFJ Dragon’s affiliation with Draper Fisher Jurvetson enables it to take advantage of DFJ's established global network, strong deal flow and reputation as a leading early stage investor.

“There is an enormous investment potential in the growing number of innovative technology companies in the China market,” said Bobby Chao, Managing Director of DFJ Dragon. Tim Draper, Founding Managing Partner of Draper Fisher Jurvetson, also adds “as China continually evolves into an international technological center, the DFJ Dragon team with their extraordinary track record will remain abreast of the progress, and will continue to garner tremendous interest from both entrepreneurs and the investment community."

About DFJ DragonFund
DFJ DragonFund is a leading venture capital firm in the People’s Republic of China. It is the exclusive China affiliate fund of the internationally recognized venture capital firm Draper Fisher Jurvetson (www.dfj.com). DFJ DragonFund invests in early-stage, high growth, China-centric technology companies. As a joint venture between DFJ and DragonVenture, DFJ DragonFund leverages an unparalleled track record of experience, knowledge, and success in venture capital both internationally and on the Chinese domestic and grass-roots level.

About DFJ
Draper Fisher Jurvetson is the only venture capital firm with global presence through a network of affiliated funds, with offices in more than 30 cities around the world and more than $3.5 billion in capital commitments. DFJ's mission is to identify, serve and provide capital for extraordinary entrepreneurs anywhere who are determined to change the world. Over the past twenty years, DFJ has been proud to back approximately 300 companies across many sectors including such industry changing catalysts as Hotmail (acquired by MSFT), Baidu (BIDU), Skype (acquired by EBAY), United Online (UNTD), Overture (acquired by YHOO), Interwoven (IWOV), 411 (acquired by YHOO), Parametric (PMTC), and Digidesign (acquired by AVID).