VanceInfo (formerly Worksoft) Beijing, China “DCM’s investment made a defining impact on VanceInfo’s development. DCM assisted us in establishing a management and governance structure to help us turn a local company into an international market leader. They were also instrumental in helping us through the IPO process.” - Chris Chen, Chairman & CEO, VanceInfo Technologies

VanceInfo Technologies (NYSE: VIT) has grown into China’s largest software outsourcing company focused on the U.S. market. They deliver world-class services to global clients in enterprise solutions, application development and maintenance, BI/DW, software product development, QA and testing and localization services. Clients include Citigroup, Microsoft, IBM, Oracle, NEC, Nokia, HP, TIBCO and many other leading Fortune 1000 companies. VanceInfo completed its IPO on the NYSE in 2007.

DCM first invested in VanceInfo in March 2005. The investment was originally sourced by Ruby Lu and was the first deal based in China where DCM had the opportunity to perform due diligence side-by-side with our strategic partner Legend Capital. As examples of DCM’s value add, DCM has introduced many customers in the U.S. and Japan over the years, identified M&A targets inside and outside of China. Moreover, Ruby guided the company throughout the IPO process.

DCM’s investment in VanceInfo demonstrates the successful execution of the investment thesis around outsourcing to lower-cost regions. VanceInfo was also the first China deal for DCM where the company’s customers were primarily outside of China rather than from the domestic market. As such, DCM’s business development efforts in the U.S. and Japan have been just as important as our contacts inside China. This deal demonstrates DCM’s international business development capabilities and the success of DCM’s “Golden Triangle” (the U.S., China and Japan) reach in helping our portfolio companies grow.