Shiyu Wang to co-lead TMT team at Qiming; Avina Sugiarto joins East Ventures

In people moves, Chinese VC Qiming Venture Partners has added to its team of partners to co-lead the firm’s TMT dealmaking efforts while Indonesia-based East Ventures has brought on board Avina Sugiarto as a venture partner.

Shiyu Wang rejoins Qiming to co-lead TMT team

Qiming Venture Partners on Tuesday announced an addition to its team of partners to co-lead the firm’s TMT dealmaking with a focus on the Internet and consumer sectors.

Shiyu Wang, who had previously worked at Qiming from 2012 to 2016, rejoined the firm as a partner after his almost six-year tenure as a general partner at K2 Venture Partners, a Beijing-based dual-currency fund that mainly invests from angel to Series B funding stage.

At K2 Venture Partners, Wang facilitated the firm’s investments in Onion Global, a Chinese e-commerce platform that is now listed on the New York Stock Exchange (NYSE); and Betta Games, which last October sold StarLark, the developer of multiplayer online golf game Golf Rival, to Nasdaq-listed Zynga for about $525 million.

He also led the firm’s investment in Beijing Data Intelink Technology, a Chinese marketing & brand operation firm that is in the process of a domestic IPO to raise up to 800 million yuan ($125.9 million).

“China is a world-class consumer country, and I believe there are still many opportunities and huge upgrade potential in the country’s consumer market in the next five to ten years,” said Wang in a statement. He expects Qiming to “stay sharp” for the new “big thing” amid an ongoing revolution in China’s Internet traffic development.

He has also served stints at Chiratae Ventures India Advisors (formerly IDG Ventures India Advisors), investment bank China Renaissance, and IBM, per his LinkedIn profile.

East Ventures ropes in Avina Sugiarto as venture partner

Indonesia-based East Ventures has brought on board Avina Sugiarto as a venture partner to leverage her experience in investing in growth-stage technology companies, the company said in a statement on Tuesday.

Having over 12 years of experience in investing across alternative assets, Sugiarto will be tasked to promote ESG practices in East Ventures’ investments.

Prior to joining East Ventures, Sugiarto was a senior vice president at Indies Capital Partners where she was responsible for deal sourcing, analysis, execution, and fundraising across the company’s investments.

She has experience in investing across alternative assets including venture capital, private equity, private credit, and special situations.