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Motorola Ventures Invests in Shanghai NewMargin Ventures
Company Makes First Venture Fund Investment in China
Schaumburg, Ill. December 2, 2003 - Today, Motorola, Inc. (NYSE: MOT) announced Motorola Ventures, the company's strategic venture capital arm, invested in Shanghai NewMargin Venture Capital Co., LTD., China's premier venture capital management fund. This investment represents Motorola Ventures' first investment in a China-based venture fund. Terms of the agreement have not been disclosed.
Shanghai NewMargin Ventures is one of China's oldest domestic venture capital companies. Its investment philosophy focuses on high-growth companies based in China, led by top local management teams and customer demand. In the high technology arena, Shanghai NewMargin invests in IT, Communications, bio-medical, material sciences and other emerging growth areas.
"We are extremely pleased to welcome Motorola Ventures to our fund," said Feng Tao, General Partner of Shanghai NewMargin Ventures. "Motorola Ventures ability to support our portfolio companies and provide Motorola investment channel and technology expertise will be a real asset to the growth of our investments."
"The investment in Shanghai NewMargin brings Motorola Ventures a strong investment partner in China for our continuing pursuit of new markets, new talent, and new technologies in China and beyond," said Warren Holtsberg, general manager, and corporate vice president, Motorola Ventures.
"As the largest foreign investor in China, Motorola has a strong commitment to the region," said Gene Delaney, executive vice president, Motorola, Inc., and chairman of the board, Motorola China Electronics Limited (MCEL). "This partnership with NewMargin demonstrates Motorola's support for Chinese entrepreneurs and will help grow young companies in the region."
Motorola will occupy a seat on the board of directors and will join Shanghai NewMargin's investment committee.
About Shanghai NewMargin Ventures:
As China's premier venture capital management company, its overriding mission is to support emerging entrepreneurs to build market leaders in China. Total funds under management are over US $100 million. Shanghai NewMargin seeks top entrepreneurs with strong market visions to establish high growth businesses. Other focuses include reviewing opportunities that possess foreseeable cash flow, high entry barrier and a tangible path to the public market.
About Motorola, Inc.
Motorola, Inc. (NYSE: MOT) is a global leader in wireless, automotive and broadband communications. Sales in 2002 were $27.3 billion. Motorola is a global corporate citizen dedicated to ethical business practices and pioneering important technologies that make things smarter and life better, honored traditions that began when the company was founded 75 years ago. For more information: www.motorola.com
Motorola Ventures (MV) is the global, strategic venture capital investment arm of Motorola, Inc. MV invests at all stages in developing companies of strategic value to Motorola in order to accelerate access to new technologies, new markets and new talent. For more information, visit www.motorola.com/ventures.
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