Granite Global Ventures Strengthens Position in China with Appointment of New Managing Director.

Jixun Foo Joins Granite Global Ventures with a Proven Track Record

MENLO PARK, Calif., Nov. 14 /PRNewswire/ -- Granite Global Ventures (GGV), an expansion-stage venture capital firm, announced today that it has bolstered its investment team with the addition of Jixun Foo. Jixun will serve as Managing Director focused on investments in China, and will be based in GGV's Shanghai office.

Prior to joining Granite Global Ventures, Jixun was a director of DFJ ePlanet, a global venture capital firm. There he led several key investments in China, including Baidu, Longcheer, and GMedia in addition to his involvement in Focus Media and Kaitone. Jixun was previously a manager at the National Science & Technology Board of Singapore (NSTB), where he invested in venture capital funds and assisted early-stage technology companies. Prior to joining the NSTB, Jixun served as an R&D engineer and project group leader with Hewlett-Packard, where he helped develop the HP Deskjet 400 printer.

"Jixun is a talented investor and board member and has made a huge contribution over the last five years to Baidu's success," said Robin Li, CEO of Baidu. "Jixun was one of our most influential board members, helped drive the evolution of the Baidu business model and was a leader in getting Baidu financed from the initial VC investment all the way through our recent NASDAQ IPO."

"I have known and worked with Jixun for over eight years. His deep understanding of the Asian market and his venture experience will strengthen our presence in Asia, especially in China," said Thomas Ng, Managing Director, Granite Global Ventures.

"Granite Global Ventures presents a tremendous opportunity both personally and professionally," said Jixun Foo, Managing Director, Granite Global Ventures. "I am looking forward to joining its team of proven professionals and contributing to the firm's further success."

About Granite Global Ventures

Granite Global Ventures is an expansion-stage venture capital firm focused on information technology and healthcare companies. The firm was founded in 2000 by four managing directors: Scott Bonham, Joel Kellman, Hany Nada, and Thomas Ng. Granite Global Ventures brings a depth of experience in investments, cross-border business development activities, mergers and acquisitions, and IPO transactions. With $400 million under management, its investments include AAC Acoustic Technologies (HKSE:2018), Agility (pending acquisition by JDS Uniphase), Alibaba (recently combined with Yahoo!), Bokee, Hurray Solutions, SiRNA Therapeutics and XenoPort. Past investments include Kintana (acquired by Mercury Interactive), NetScaler (acquired by Citrix), Oculex (acquired by Allergan), and P-Cube (acquired by Cisco Systems).

Granite Global Ventures (http://www.ggvc.com/) has offices in Menlo Park, CA, Shanghai, and Singapore.

   LEWIS PR for Granite Global Ventures   Granite Global Ventures
   Adriana Gascoigne                      Scott Bonham
   415-277-5473                           650-475-2150
   [e-mail]                   [e-mail]

CONTACT: Adriana Gascoigne of LEWIS PR, [phone], or [e-mail], for Granite Global Ventures; or Scott Bonham of Granite Global Ventures, [phone], or [e-mail]

Web site: http://www.ggvc.com/