Processing .....please wait.. 
The article has been forwarded.... 
General Atlantic Names First Partners In Asia
By siliconindia
|
Thursday, 15 July 2004, 19:30 IST
Showing a growing interest in Asia, General Atlantic Partners said that it has promoted Vince Feng and Abhay Havaldar to partners in the region.
The private equity and venture capital firm also promoted Ashley Fieglein, Jonathan Korngold, Anon Levy and Oliver Thum to principals in other regions.
Even though Feng, based in Hong Kong, and Havaldar, based in Bombay, India, were previously working as principals in those locations, they are the firm's first partner-level staff in Asia, said Pat Hedley, director of marketing and communications for General Atlantic.
Hedley said that while the firm has been represented in Asia for a while, the appointments represent a strengthening of its commitment to the continent. "We have been active in Asia and we are very optimistic about Asia," she said.
The firm's investments in these areas include Hong Kong-based Digital China Holdings Ltd., a publicly traded provider of network security products; Taipei-based Data Systems Consulting Co., an enterprise software maker; Haryana, India-based Daksh eServices Private Ltd., a business process outsourcing company recently purchased by IBM; and Bombay-based Patni, an IT services provider.
Feng has headed General Atlantic's Hong Kong office since its establishment in 1999, coming from the Greenwich, Conn., office, and leads the firm's Chinese and East Asian investments. He has been with the firm since 1998, working as an associate, senior associate and principal. He also worked as a summer associate the year prior. Previously, he was an analyst for Goldman Sachs.
Havaldar joined General Atlantic in June 2002 with the establishment of the firm's India office as a principal, coming from ConnectCapital, which he co-founded and where he served as a partner. Previously, he worked as a partner at Draper International and in various technical and marketing positions at Tata Infotech.
Fieglein joined the firm's Palo Alto, Calif., office in 2002 as a senior associate. Previously, he worked in the enterprise software sector of Morgan Stanley Technology Ventures.
Korngold, based in London, joined the firm in 2001 and most recently served as a senior associate. Previously, he was a member of Goldman Sachs' principal investment area and mergers and acquisitions groups.
Levy, based in Greenwich, Conn., joined the firm in 1998 and has served as an associate and senior associate. Previously, he worked as an investment banker at Morgan Stanley & Co.
Thum, based in Duesseldorf, joined the firm in 2001 and has served as senior associate. Previously, he was a principal at Earlybird Venture Capital and a consultant at Bain & Co.
In an unrelated move, Reed Elsevier Group PLC, a London-based publishing company, said that it has named recently departed General Atlantic partner Erik Engstrom as chief executive officer of Elsevier, its global scientific and medical publishing division. Engstrom will report to Crispin Davis, the group's CEO.
Greenwich, Conn.-based General Atlantic Partners was founded in 1980 and has $5 billion committed in 55 portfolio companies. The firm invests in all stages, from early- and late-stage venture capital to PIPEs and buyouts. Unlike many private equity and venture capital firms, Hedley said, General Atlantic has an evergreen relationship with its nine limited partners. AIG Inc. is the firm's only institutional investor; the other eight LPs are individuals or family trusts.
With the recent promotions, General Atlantic has 65 investment professionals, including 17 partners and six associates. The firm's other offices are in New York, Palo Alto, Calif., Washington, Duesseldorf, London, Singapore, Hong Kong, Bombay, India, Tokyo, and Sao Paulo.