Beijing - August 5 th 2005: Beijing Oriental Wisdom Co. Ltd. announced the successful completion of Series B financing, led by Granite Global Ventures and co-invested by TDF Capital and Venture TDF, the Series A investor. The new injection of venture capital will accelerate the development and deployment of mobile enterprise and industrial applications as well as build up Oriental Wisdom's brand and market position in the sector.
Founder and Board Chairman Mr. Liu Yingkui said: "Oriental Wisdom is committed to be the leading service provider of mobile technology development and applications for China 's enterprises and mobile users. Currently, the market size of mobile valued added services in China is about 100 million yuan. With the proliferation of broadband penetration, growth of mobile handset users and the upcoming new technologies around 3G, we expect the market for value added mobile services to grow by at least another 10 fold in the next few years." Mr.Liu added: "We are very pleased to complete this round of financing with Granite Global Ventures, TDF Capital and Venture TDF, all well known international venture capital firms with a strong footprint in China . Their support is a further affirmation of our business model and provides new impetus for our future development and growth."
Jenny Lee , Director at Granite Global Ventures (GGV) said: "We have been observing the enterprise value-added application services market for quite some time and Oriental Wisdom is the market leader in this new growing space. Oriental Wisdom's strong management team, market leadership, creative and innovative products and the maturation of the enterprises value added services market are key drivers for our investment decision. GGV hopes to help Oriental Wisdom strengthen, expand and develop its number 1 market position across different enterprises in the next few years."
" Oriental Wisdom's focus on providing a complete mobile service solution and operating service support for enterprise clients, is compelling. The market for mobile business accessibility is undeniable, especially given that the mobile phone has become an everyday tool. What attracted us to Oriental Wisdom is the ability to execute and integrate a software platform with telecommunication activities." Tina Ju, Managing Director of TDF Capital.
About Beijing Oriental Wisdom Co. Ltd:
Oriental Wisdom Co. Ltd is a leading provider of mobile business applications in China backed by renowned international investment institutions. Since founding, Oriental Wisdom has devoted itself to providing customers in different industries with high-quality mobile business technologies, products and high-standard mobile business operation service. Oriental Wisdom is one of the most important entire network and multiple-service partners of China 's mobile telecommunications carriers for mobile value-added industrial applications. Oriental Wisdom provides industrial customers with highly efficient and robust mobile business operation service with national coverage and large-scale throughput. As a result of unsparing efforts over the years, Oriental Wisdom has already won wide recognition from customers in the financial industry, and has a great number of influential industrial user groups in the insurance, fund management, banking and securities industries. For more information, please visit: http://www.orientalwisdom.com
About GRANITE GLOBAL VENTURES:
Granite Global Ventures (GGV) is an expansion stage venture capital firm sponsored by Venrock Associates. With offices in Silicon Valley , Singapore and Shanghai , Granite Global Ventures brings an Asian perspective to expansion stage investing. It seeks to help its Chinese portfolio companies tap into U.S. capital markets, as well as global corporate networks. Granite Global Ventures China portfolio companies include leading market players such as Alibaba, Hurray!, AAC Acoustic, Hisoft. For more information, visit Granite Global Ventures web site at: http://www.ggvc.com
About TDF CAPITAL:
TDF Capital is a leading regional venture capital firm in China focusing on early to expansion stage investments in the consumer, media and technology sectors. TDF has built a track record of partnering with great entrepreneurs with investment exits such as AAC Acoustics , Alibaba, Baidu, Focus Media and Hurray!, among others. The TDF team leverages its extensive local network to identify sector leaders and build sustainable success. The team manages two China-focused funds supported by global blue-chip investors and leading university endowments. For more information, visit the TDF Capital web site at: http://www.tdfcapital.com .
About Venture TDF:
Venture TDF is a global investment company headquartered in Singapore with branch companies in California and Shanghai . It invested chiefly in information technology , E-business and mobile telecommunication fields in America, Europe , China with US$500 million under management. In China the portfolio companies include Sina, Alibaba, China Netcom, Hurray! AAC Acoustic, Baidu and Focus Media.
Released by: Beijing Oriental Wisdom Technology Development Co., Ltd
Contact: Ms Haffy
Tel: 86-10-51267866
Fax: 86-10-84978118
Website: http://www.orientalwisdom.com
Date: August 4, 2005
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