Pacific Crown Securities acquired Shanghai Hongya Generation, the latter of which was awarded Goldman Sachs Investment (VC305)

On May 13, Pacific Crest Securities, the US investment bank, announced the acquisition of China's Pacific Epoch, an investment consulting company that focuses on the technology sector and is headquartered in Shanghai.

Crown Securities has entered China for almost a decade, and now it is ushering in a good development opportunity. Over the past decade, many entrepreneurs in China have come from non-technical fields. However, the technology industry is constantly developing in China. China has become the world's largest Internet market, and its own Silicon Valley may appear in the future. Crown Securities CEO and Chairman Scott Sandbo (Scott Sandbo) said that in the past two years, the number of Internet companies with a market value of US $ 1 billion has doubled from 50 to more than 100.

According to sources, Crown Securities has always focused on the technology sector, and Hongya generation investors include Goldman Sachs.

Earlier it was reported that Crown Securities intends to fully acquire Hongya Generation, which has branches in New York and Hong Kong.

Renren.com was listed in the US last week, and Crown Securities participated in its IPO. It wanted to further penetrate the Chinese market and expand its business. In 2008, Hudson Street, a branch of Goldman Sachs, acquired part of the equity of Hongya Generation and invested about 7 million US dollars. The area of ​​concern of Hongya Generation in addition to technology is retail and alternative energy.

Hongya Generation has more than 90 employees in China, Hong Kong and the United States.

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