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Kansas City Startup Shows How To Succeed In China With An Alibaba Deal

ForbesEyeVerify started early in China, when the company only had eight employees. The company led by founder and CEO Toby Rush, inked several deals with tier one smartphone OEMS, drew investment from China’s Qihoo 360, did a cooperation agreement with Alibaba and Alipay, and then got acquired, tells David Sullivan, Silicon Valley-based managing director of Alliance Development Group, which advised EyeVerify.

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Why China's Cities Want Stricter Rules For Its $73B Ride-Hailing Market

Forbes - The final versions are likely to be moderated, as authorities and companies continue to negotiate rules acceptable to both sides, says Chris DeAngelis, general manager of consultancy Alliance Development Group, which helps western companies expand in China.

“I see this as more of a reminder to the industry that they are being monitored closely and they should continue to develop along the lines outlined in the draft regulations or their lives could become more difficult,” DeAngelis said.

      Disruptive US tech gets an edge with China's new strategic investors. By Forbes      China tech is going global. You don’t have to look far to see the signs. As one of the bigger indicators, China’s tech titans are investing heavily in U.S. tech startups, particularly those with a disruptive edge.  Take SoFi in San Francisco, which has funding with roots from China. Joe Chen, founder of Chinese Internet company Renren is SoFi’s earliest investor and one of the largest backers of the marketplace lender for young professionals.  Chen and SoFi CEO Mike Cagney first connected at a Stanford gathering in 2011 through an acquaintance, and Chen soon had invested $4 million in SoFi, advising Cagney meanwhile that he needed to be more aggressive with an expansion plan for his innovative student loan service.  More resources! A year later, in 2012, SoFi raised a pivotal $81 million, with Chen on board and –  thanks to Chen’s connections and his enthusiasm for the disruptive lending service — David Chao of Sand Hill Road venture firm DCM. Fast forward, and SoFi drew $235 million financing early this February, bringing its total capital raised to $399 million with such big names as Peter Thiel participating.  Since its start in 2011 thanks in part to Chen’s investment, SoFi has loaned $1.75 billion and has branched out beyond student loans to personal loans and mortgage loans and refinancing. Cagney says SoFi has only had two defaults on loans, both due to the borrower’s death. See earlier post on Chen’s investments.  A second example in this China outbound investment trend is EyeVerify, a biometric technology startup in Kansas City. EyeVerify raised $6 million in a Series A equity funding in August 2014, with another Chinese tech titan – mobile security company Qihoo 360 as a strategic investor. Joining Qihoo 360 were Sprint and Wells Fargo  EyeVerify’s CEO Toby Rush says he got an introduction to Qihoo 360 through China business development pro David Sullivan and his team at Alliance Development Group. Rush credits Sullivan for helping him to get comfortable with an investor from China. “It’s a different world, with different expectations,” says Rush. Another hesitation was how the deal with Qihoo could impact “where we go in China in the future” with potential other partners.  But there was no question about having NYSE-listed Qihoo 360 as a door opener to additional contracts inside the firm and extending its reach to mobile carriers. Mike Liao, recently named director of strategic initiatives at Qihoo 360 in the Valley — another indication of China tech’s outreach – is on the board of EyeVerify.  Having secured the financing, Rush is now focused on making his patented biometric technology mainstream, used in financial services, healthcare, mobile security and government.  The founders of EyeVerify and SoFi will be on stage at Silicon Dragon SF 2015 to speak about how their startups are scaling up.  Read the full article at  forbes.com       ADG Insights   |   ADG and Clients News   |   ADG Newsletters                     Back to top

Disruptive US tech gets an edge with China's new strategic investors

Forbes - EyeVerify’s CEO Toby Rush says he got an introduction to Qihoo 360 through China business development pro David Sullivan and his team at Alliance Development Group. Rush credits Sullivan for helping him to get comfortable with an investor from China. “It’s a different world, with different expectations,” says Rush. Another hesitation was how the deal with Qihoo could impact “where we go in China in the future” with potential other partners.

Chasing the Deals in China's Crowded Private Equity Market

Forbes - The surge is due at least in part to government design. Beginning in 2006-2007, both Beijing and local governments took a series of steps intended to cultivate a domestic PE industry. The idea, argues Chris DeAngelis, a Beijing-based principal at Alliance Development Group, was to keep the entire process within China–everything from raising funds from Chinese individuals to investing in Chinese companies and eventually listing on Chinese markets.