Daisy Cai has accepted a partner position at Japan-based internet and telecommunications group SoftBank’s Vision Fund, Asian Venture Capital Journal has reported.
Cai had been a founding partner at Gaocheng Capital, a growth-stage private equity firm backed by hedge fund manager Hillhouse Capital. It was formed in early 2018 and invests out of a dual dollar and renminbi-denominated fund.
The move will represent a return to corporate venturing for Cai, who had previously been a managing partner for China-based internet group Baidu, working on both early-stage fund Baidu Ventures and late-stage vehicle Baidu Capital, having joined the company in 2016.
Vision Fund is in the process of raising money for its second fund and has been slowly growing its Chinese team under managing partner Eric Chen. Director Arthur Zhang joined from China-based venture capital fund ZhenFund in December 2019.
Photo of Daisy Cai courtesy of LinkedIn.
