China Practice — Emerging Companies and Venture Capital

Orrick's global Emerging Companies Group has a unique focus on the business and legal needs of emerging companies and the venture capitalists and investment banks that support them.  The group is a multidisciplinary international team of more than 100 lawyers centered in our Silicon Valley office. The Orrick Emerging Companies Group represents more than 450 venture-backed emerging growth companies in Silicon Valley and more than 550 worldwide, complemented by relationships with more than 100 venture capital firms that have funded our clients. During the past few years, there has been a rapid increase in the number of emerging companies, and venture capital funds that are focusing on China and our China Team* has played a significant role in the development and growth of the venture capital environment in China. Examples of Orrick's China-related experience include:

• VC Preferred Financings – Orrick has represented many foreign private equity/fund investors in preferred financings in China-focused companies, including Eachnet.com, SupreSoft, ChinaTech, NetChina, Longshine Information Technology, Airoam Limited, LinkAir, China Stores, Beijing Everest E-Commerce Network Services, Vianet, AsiaEC.com Limited, Hurray! Solutions Ltd., China@Health Co., Ltd., Soufun, Yabuy, D3Y Inc., Hopen Mobile Software Company Limited, Yesky.com and UTStarcom’s PRC telecom investments. 
• VC/Investment Fund Client Services – Orrick's global venture capital and investment fund clients include J.H. & Whitney Co., Warburg Pincus, Walden International, PAMA Group, HSBC Private Equity (Asia) Funds, Vision Investment Asia Limited, Sattva Investment Advisors Ltd. and ArcSoft.  For these clients, we have advised in connection with investments in Internet and technology start-ups, as well as providing restructuring, intellectual property due diligence, technology licensing analysis and/or general corporate advice relating to investments.
• Start-Up and High-Tech Company Client Services – Orrick provides a wide range of services to start-up Chinese companies, including: (1) Sebo.com, in financing, restructurings, international regulatory advice and trademark registrations in connection with an Internet distribution and consultancy company, (2) Mpia International, a China and international mobile payment service provider, in connection with its acquisitions, tax and financings, (3) E2-Capital, in connection with capital markets financing with Softbank for E*TRADE, (4) Magically Inc., in connection with financing and proposed IPO for an Internet telephone company (5) Madeforchina.com, Frontech Ltd. and Beijing Runway Technology Co. Ltd., with respect to their private equity investors, (6) Yesky.com, in connection with its restructuring and other corporate transactions and (7) Terra-Lycos, in connection with the restructuring of its Asia region Internet investments and the divestiture of its Asian holdings.

Additional examples of our venture capital and start-up related experience in China includes representing:

• Alibaba.com Corporation, in connection with Softbank's investment in Alibaba and joint venture financing of Tao Bao, China's most popular consumer e-commerce Web site.
• SINA Corporation (Sina.com), in its initial public offering on the NASDAQ, followed by a US$163 million U.S. Rule 144A convertible bond offering (the "Chinese Language Media of the Year" award recipient in 2003 from South China Weekend, ranked number one by the Chinese Academy of Social Sciences as the most frequently visited web site in China in 2003, with over 100 million worldwide registered users to its online media network).
• Capinfo Company Limited, in its initial public offering on the HKEx, a company that pioneered the first Build-Own-Operate undertaking in China for developing, managing and maintaining major information-oriented projects in Beijing, including Capital Public Information Platform, Beijing E-Government Private Network, Beijing Social Security Information System, Beijing Community Services Information System, the Beijing Citizen Card Project, E-Commerce and Payment System (China's earliest and largest domestic B2C online payment platform), the Digital Information Kiosk Project, Space Information System and Beijing Emergency Rescue System.
• Sino-United, in connection with its proposed venture capital financing in the healthcare sector.
• IDG, in connection with its various venture capital investment projects in China.
• CVL, a venture capital/private equity investment firm, in connection with its venture capital/private equity investment in various sectors in China.
• Lombard (HK) Limited, in connection with its expansion plan in China.
• SupreSoft, in connection with a number of rounds of venture capital financing from Intel, IDG and Softbank.
• Yesky, in connection with its series B, C and D financing from News Corp., IDG, and a Japanese company, Impress Holdings, Inc.
• A foreign strategic investor in ChinaTech’s preferred financing and licensing of software.
• Capinfo Company Limited, in connection with its corporate financing transactions.
• Several foreign investors in the private equity investment in Eachnet.com.
• A foreign strategic investor in NetChina’s venture capital preferred financing.
• A foreign strategic investor in the venture capital preferred financing of Longshine Information Technology.
• A foreign strategic investor in Airoam Limited’s venture capital preferred financing.
• A foreign fund investor in LinkAir’s venture capital preferred financing.
• A foreign fund investor in China Stores’ venture capital preferred financing.
• A foreign fund investor in the venture capital preferred financing of Beijing Everest E-Commerce Network Services.
• A foreign fund investor in Vianet’s venture capital preferred financing.
• A foreign fund investor in the venture capital preferred financing of China@Health Co., Ltd.
• A foreign fund investor in Soufun’s venture capital preferred financing.
• A foreign fund investor in Yabuy’s venture capital preferred financing.
• A foreign fund investor in D3Y Inc.’s venture capital preferred financing.
• A foreign fund investor in Yesky.com’s private equity investment.
• Yesky.com, in connection with its restructuring and other corporate transactions.
• Several investors in UTStarcom’s PRC telecom investment.
• Madeforchina.com, in connection with its private equity investment.
• Frontech Ltd., in connection with its venture capital preferred financing.
• A foreign fund investor in the venture capital preferred financing of AsiaEC.com Limited.
• A foreign fund investor in the venture capital preferred financing of Hurry! Solutions Ltd.
• Beijing Runway Technology Co., Ltd., in connection with its venture capital preferred financing.
• TerraLycos in connection with the restructuring of its Asian region Internet investments and the divestiture of its Asian holdings.
• J.H. Whitney Co., in connection with various investments in Internet start-ups.
• ArcSoft, in connection with rounds of financing, restructurings and corporate advice.
• Warburg Pincus, in connection with various investments in Internet start-ups and corporate advice.
• Walden International in connection with various investments in Internet and technology start-ups and corporate advice.
• Mpia International, a China and international mobile payment service provider, in connection with its acquisitions, tax and financings.
• E2-Capital, in connection with capital markets financing with Softbank for E*TRADE.
• Magically Inc., in connection with financing and proposed IPO for an Internet telephone company.
• Sebo.com, in providing financing, restructurings, international regulatory advice and trademark registrations in connection with an Internet distribution and consultancy company.
• Several foreign investors in the venture capital preferred financing of Hopen Mobile Software Co. Ltd.
• A foreign investor in the Series D venture capital preferred financing of Yesky.com, Inc.
• A national PRC telecom and IP telephony company with respect to its restructuring, IPO and dual listing on Hong Kong GEM and NASDAQ.
• Several global technology/internet venture capital funds with respect to IP due diligence and investments in China-based high-tech companies.
• A major PRC E-commerce company in providing advice on its restructuring, IPO and overseas listing.
• Three major U.S. conglomerates in negotiating and documenting contracts relating to private equity investments in numerous PRC technology companies.
• A major Hong Kong-based investment bank with respect to GEM listings for a number of PRC technology/Internet companies.
• A number of PRC start-up technology companies in their corporate and financing matters.  
• A China-based 3-D modeling software company in connection with corporate and financing matters.
• An IT advertising technology company with respect to recapitalization, preferred financing, and mergers and acquisitions transactions.
• The structuring of a wireless wallet Internet venture.
• The structuring of an Internet content provider.
• The offshore sale of an Internet content provider.

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