Shandong Province and Luxin Group Partner With Pioneering Venture Capital Firm, WI Harper Group, to Drive Disruptive Technology Investments Between US and Greater China
BEIJING, SAN FRANCISCO and TAIPEI, Taiwan, November 28, 2016-- WI Harper Group, a leading cross-border early stage venture capital firm, has signed a strategic cooperation agreement with Luxin Venture Capital Group and Shandong Leader Equity Investment Fund. Mr. Peter Liu, Chairman of WI Harper Group, Mr. Ji Binchang, Chairman of Luxin Group, and Mr. Shen Xi-Liang, Chairman of Shandong Leader Fund, Mr. Sean Peng, Managing Director at WI Harper, Mr. Biao Wang, Chairman and General Manager of Luxin, Mr. Yue Jiang, General Manager of Shandong Leader Fund, attended the signing ceremony which was hosted in Shandong.
Under this strategic initiative, the three parties have agreed to launch a cross-border fund, with an emphasis on investing in promising startups in the US and Greater China. Additionally, through investing in cutting-edge startups in the areas of robotics, artificial intelligence ("AI"), virtual reality ("VR"), augmented reality ("AR"), autonomous vehicles, big data, cloud computing, healthcare IT, medical devices and biotech, they will support China's national policy of growing and further improving its technology infrastructure.
Chairman Peter Liu commented, "In the last 20 years, WI Harper Group has devoted itself to driving cross-border economic growth through investing in innovative start-ups. We demonstrated this in China by identifying and licensing core telecommunication technology from the US, establishing a joint venture with a Chinese SOE, which eventually paved the way to the launch of China's 3G standard. I am confident that, with this joint venture in place, we will continue bringing disruptive technologies to help foster China's next wave of growth."
"Exploring global opportunities has been an area of interest for Luxin," added Chairman Binchang Ji. "It is a pleasure to work with a world-class investment group that can bring our vision to fruition. WI Harper Group is one of the first Venture Capital funds to have an unique cross-border angle. Additionally, our visions are aligned in helping China develop its economy by bringing the best talent and innovation into China."
Chairman Xiliang Shen closed by saying, "We are thrilled to be working with WI Harper and Luxin and look forward to leveraging our strengths to build a global brand."
About WI Harper Group
Founded in 1996, WI Harper Group is a global leader in cross-border early stage venture investing between the US and Asia. The firm manages over US$1 billion in committed capital and has made over 300 investments with more than 80 exits. The firm maintains three offices in San Francisco, Taipei, and Beijing with over 20 investment professionals.
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