Daisy Cai, former partner at Japan-based internet and telecommunications group SoftBank’s Vision Fund, has joined venture capital firm B Capital Group to open its China office.
Raj Ganguly, co-founder at B Capital, which is part-funded and owned by management consultants Boston consulting Group (BCG), said: “If the last two decades in China were about the rise of the consumer internet, the next two decades will be about digital transformation in traditional industries: healthcare, banking, insurance and industrials.
“Of the 10 largest companies in China, only Huawei truly provides enterprise-scale technology solutions. We believe now is the right time to enter China because the next marquee name in enterprise technology is being developed right now. We are excited to find the next Salesforce or Oracle in China, and we already have a number of companies in our sights that have this type of potential.”
In April 2020, Cai accepted a partner position at the Vision Fund. Cai had previously been a founding partner at Gaocheng Capital, a growth-stage private equity firm backed by hedge fund manager Hillhouse Capital, and also had 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.
