1. Name and Address of Reporting Person* HSU MARK
Explanation of Responses:
1. Shares held of record by Asia Pacific Growth Fund II, L.P., a Cayman entity. Mr. Hsu disclaims beneficial ownership of the shares held by this entity, except to the extent he has a pecuniary interest in this entity.
2. Shares held of record by Hantech International Venture Capital Corporation. Mr. Hsu disclaims beneficial ownership of the shares held by this entity, except to the extent he has a pecuniary interest in this entity.
By: David Teichmann For: Mark Hsu
http://www.secinfo.com/d166Xk.2e.htm
(Note the CAYMAN reference. Often a location of “tax shelters.”)
Hambrecht & Quist Group · S-1 · On 6/20/96 · EX-10.02
p.10-11
8. H&Q ASIA PACIFIC, LTD.H&Q Asia Pacific, Ltd. ("H&Q AP") was established in February 1990 as the corporate successor to a business effort initiated by H&Q Group in 1985 with a view toward creating one of the leading private equity investment firms of the Asia Pacific region. Today H&QAP employs approximately 53 employees including 29 professionals who operate from headquarters in San Francisco and offices in Bangkok, Manila, Singapore, Hong Kong, Kuala Lumpur, Jakarta, and Taipei. H&QAP manages ten venture funds with over $300 million of capital. H&QAP's professional employees own 50% of its equity with the balance being held by H&Q Group. Dr. Ta-lin Hsu, a Managing Director of H&Q Group, is the Chairman of H&Q AP.
Established in July 1986, H&Q Taiwan Co., Ltd. is a joint venture between H&QAP (80%) and ORIX Capital (10%) and Baring Brothers (10%) and is the manager of two fund companies, HanTech Venture Capital Corporation and HanMore Venture Capital Investment Corporation. HanTech is a US$28 million venture capital company formed in 1986. In 1990, US$7 million of HanTech's profits were capitalized following realization of several of the fund's early investments.
Approximately US$10 million of HanTech's original capital was used to form H&Q Taiwan Ventures, C.V., which co-invests with other funds managed by H&Q Group in U.S.-based technology and healthcare companies. HanMore is a US$16 million fund established in 1989 for investment in high technology companies in Taiwan and the U.S. M.R. Lin is President of H&Q Taiwan.
H&Q Philippines, Inc. was established in 1988 and is the manager of H&Q Philippine Ventures, Inc., a venture capital fund organized in 1988 with the assistance of the Asian Development Bank (ADB). This fund has committed capital of US$16 million from international institutions as well as from leading local corporations. H&Q Philippines is also the Manager of H&Q Philippines Ventures II, Inc., a US$16 million fund which closed in 1994. Eduardo David is the President of H&Q Philippines.
H&Q Asia Pacific Venture Management Pte Ltd. (H&QAPVM) was established in Singapore in 1988 to pursue venture capital investments in the countries of the Association of Southeast Asian Nations (ASEAN). In November of 1988, ASEAN Fund Limited, a US$150 million fund raised by Nomura Securities, selected our firm to establish and manage a portfolio of investments in unlisted companies. With approximately US$14 million allocated for this purpose, H&QAPVM began making investments in early 1989. H&QAPVM is also the manager of H&Q Asia Ventures Ltd., a Singapore-based fund with capital of approximately US$26 million. William Seymour is Managing Director of H&QAPVM.
In 1990, H&QAP teamed up with two prominent Thai institutions -- Bangkok Bank Limited and Asia Securities Trading Co., Ltd. -- to form a joint venture company in Thailand. Today, H&Q (Thailand) Ltd. provides consulting services to H&Q BVI Limited, which is engaged primarily in the management of Siam Ventures N.V., a US$20 million fund which seeks to provide expansion capital to unlisted companies based in Thailand. Virapan Pulges is the Managing Director of H&Q (Thailand), and William Chao is the Managing Director of H&Q BVI Limited.
In 1991, H&QAP was selected by the Overseas Private Investment Corporation (OPIQ to manage the Asia Pacific Growth Fund, which is a US$75 million fund that closed in 1992, The fund invests in rapidly growing companies in the ASEAN countries, Taiwan and Micronesia. OPIC is a self-sustaining agency of the U.S. government which provides political risk insurance and loan guarantees to U.S. businesses.
In 1993, H&Q AP formed a joint venture with the Malaysia Technology Development Corporation to form a venture management company in Kuala Lumpur. MTDC-H&Q Venture Capital Management Sdn Bhd manages Malaysia Technology Venture One Sdn Bhd a US$14 million fund. Additionally, in 1995, a second fund, Malaysia Technology Ventures 11 Sdn Bhd was closed with committed capital of US$25.8 million.
In 1994, H&Q AP teamed up with Aetna Investment Management (Bermuda) Holding Limited and Bank of China Trust & Consultancy Company to raise and manage the China Dynamic Growth Fund, L.P. This fund will focus on private equity investments in China and currently has committed capital of US$76 million.
H & Q Asia Pacific (Hong Kong) Limited also provides advisory services for the funds portfolio companies.