The investment concern Softbank Asia Infrastructure Fund has closed its Silicon Valley offices. The one-time backer of several pre-dotcom bust businesses has finished raising $600 million and will now focus its efforts on China and other Asian countries, according to Silicon Beat.
Mr. Zhou must still be a little sore over SAIF's ill-advised $125 million USD investment in online grocer WebVan just before its pricey IPO and subsequent crash.
Another fund partner, Cisco Systems, may share similar sentiments based on comments made by its CEO, John Chambers, who said "If I wasn't American, I would be Chinese."
Mr. Chambers has earned total compensation of $40.2 million during his tenure as Cisco CEO. Not bad for a businessman who has to endure the horrific US business climate.
David Utter is a staff writer for Murdok covering technology and business. Email him
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