Xiangyu ‘Sean’ Liu has departed from his investment director position at telecommunications and internet group SoftBank to join litigation finance technology provider Legalist as chief financial officer.
Liu was hired by SoftBank Investment Advisers, which manages technology investment vehicle Vision Fund, in 2018 to help set up a China-based office in Shanghai, where he oversaw the investment team and conducted deals with companies based in the country.
Vision Fund formed a $200m joint venture with insurer ZhongAn Online P&C Insurance in August 2018 and the vehicle has backed China-headquartered companies including travel services provider Klook and automotive e-commerce platform Chehaoduo (Guazi).
SoftBank Ventures Asia, the group’s corporate venturing vehicle formerly known as SoftBank Ventures Korea, also started a $300m China-focused fund with private equity firm TPG in September 2018.
Liu’s departure follows the appointment of a new investment director, Serena Dayal, and that of vice-president Kristin Bannon in recent weeks.
His new role at Legalist will involve Liu co-managing the firm’s $100m Fund II, leveraging his investment experience at investment firm Vy Capital and private equity firm Silver Lake Partners.
