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Business Brief: Crystal Ventures LLP The Wall Street Journal October 14, 2003

Venture-capital firm Crystal Ventures LLP has begun approaching potential investors for its new fund, seeking as much as $150 million to invest in Asian and U.S. technology companies, particularly those that can draw on the growing economic ties between the regions. "Our main focus is going to be on trans- Pacific technology companies," said Joseph Tzeng, managing director of the Cleveland firm. "That goes both ways: U.S.-based companies doing significant business in Asia, and Asia- or China-based companies doing significant business development or technology work in the U.S." He said between 60% and 70% of the fund would likely be raised from Asian investors. It is targeting investors in Hong Kong, Taiwan, Singapore and China. The remaining investors will be sought from the U.S. The minimum target for fund raising is $80 million, and though the fund will take as much as $150 million, he said its optimal size would be around $100 million to $120 million."

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