BEIJING, July 15 /PRNewswire/ -- New Enterprise Associates (NEA), a leading global venture capital firm, today announced that four of its China-based portfolio companies were named to the Zero2IPO 2009 Venture 50 list: CITIC Pharmaceuticals, LianLian Pay, LineKong and Novast Pharmaceuticals. Spanning consumer technology, financial services and pharmaceutical sectors, the range of companies selected underscore the growth potential within several key areas of focus for NEA's investing activities in China.
Another NEA portfolio company, UPG, was recently honored by China Entrepreneur magazine as one of the "2009 Rising Stars -- Top Emerging Companies with Most Growth Potential." UPG, which specializes in microfinance, was among 21 companies selected for this award.
"NEA congratulates the management and nearly 3000 employees at CITIC Pharmaceuticals, LianLian Pay, LineKong, Novast Pharmaceuticals and UPG on their well-deserved recognition," said Xiaodong Jiang, Managing Director of New Enterprise Associates (Beijing) Ltd. "These five technology and healthcare companies have thrived despite global economic slowdown and emerged as leaders in their respective sectors in China. We look forward to supporting them in every way possible as they continue to pursue a path of rapid growth."
The 2009 Zero2IPO Venture 50 honorees were announced at the China Venture Capital & Private Equity Semi-Annual Forum held in Beijing on July 9-10. Winners were selected by a judging panel of 69 partners at leading venture capital and private equity firms from a pool of thousands of leading companies nominated over three months.
"LianLian is honored to be the only payment company to receive the China Venture 50 award from Zero2IPO," said Dong Wen, CEO of LianLian Pay. "NEA has been a strong supporter of LianLian since our inception and has played an integral role in our
|SOURCE New Enterprise Associates|
Copyright©2009 PR Newswire.
All rights reserved