In December 2005, IDG-Accel China Growth Fund closed successfully, with the total volume of more than US $290 million.

IDG-Accel China Growth Fund will be managed jointly by IDG Technology Venture Investment LLC (IDGVC) and Accel Partners, with the capital mostly from leading institutional investors, who are long-term partners of Accel worldwide.

Patrick McGovern, founder and chairman of International Data Group (IDG), expressed that IDG-Accel China Growth Fund is to accelerate China’s scientific innovation and to promote successive growth of China’s IT industry. The fund will be invested in fast-growing enterprises in information technology, healthcare, consumer technologies, and other emerging technologies in China.

IDGVC, a general partnership which has been managing IDG’s venture capital funds in China since 1992, has the distinction of being the first international venture capital company to enter the China market and is recognized as one of the most leading venture firms in China. At present, it has invested in over 100 China-based technology companies and has successfully generated consistent superior returns on its Fund I and Fund II investments over the past 12 years, with a total capital managed over US $800 million. It has been named “VC Firm of the Year” for four successive years by the most authoritative VC research organization.

Established in 1984 with offices in Palo Alto, California and London, Accel Partners has a history of excellence and innovation in the venture capital business. With over $3 billion under management, Accel has helped world-class internet and technology entrepreneurs build over 300 successful companies, many of which have become category-defining enterprises such as REAL NETWORKS, VERITAS, MACROMEDIA, and Wal-Mart. Last year, Accel Partners invested in UUME, the first SNS network in China and this year it invested in www.mop.com, the domestic famous interactive entertainment community.