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NEA Portfolio Companies Selected as Zero2IPO Venture 50 and China Entrepreneur 'Rising Stars' Honorees
Date:7/15/2009

development as we grew over 500 percent in three years. With the most extensive mobile payment network of over 400,000 point of sale locations, LianLian Pay will continue advancing toward our vision of becoming the 'digital cash for the last mile' for China's fast growing Internet and retail commerce. "

The Zero2IPO Venture 50 program, now in its fourth year, aims to highlight the growth potential of all emerging private companies with substantial operations in China. Companies are also evaluated for their ability to respond to crisis and embrace recovery.

"At Novast, our goal is to build a world-class global pharmaceutical company based in China," said Dr. Guohua Zhang, CEO of Novast Pharmaceuticals. "The recently announced healthcare reforms in United States and China have provided a further catalyst to our growth in the coming years. We appreciate NEA's strong and steady support as we continue to grow our business."

In the June issue of China Entrepreneur magazine, UPG's recognition as one of 21 "2009 Rising Stars" was also distinct for being one of only two financial services companies selected. The winners were chosen from a field of 90 candidates selected from a database of more than 13,000 growing companies compiled by ChinaVenture and CVSource.

"We thank China Entrepreneur for this honor," said Hangsheng Chen, Chairman and CEO of UPG. "China's 40 million small and medium businesses that account for 60 percent of the country's GDP face a vastly unmet need for financing. As a pioneer of innovative microfinance solutions, UPG has already helped thousands of small business owners in China to get access to credit critical for their growth. As a lead investor in UPG, NEA's strategic and value-added approach has made a difference in our success."

About NEA

New Enterprise Associates, Inc. (NEA) is a leading venture capit
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