Joe Chang
Managing Director at Prosperity7 Ventures
Joe Chang
Managing Director at Prosperity7 Ventures
Changning District, Shanghai
Overview
Work Experience
Managing Director
2020 - Current
The senior leader in China for Prosperity7 Ventures, Saudi Aramco’s $1B diversification fund, focusing on making venture and growth investments in disruptive and emerging technologies and industries, that could provide a new source of wealth creation for Aramco and the Kingdom of Saudi Arabia.
Board Director (Pro-Bono)
2017 - 2024
https://afcr.org.hk/en/home/ A non-profit organization headquartered in Hong Kong supported by the National Foundation for Cancer Research and devoted to curing cancers of significant impact for Asian populations. The AFCR raises funding through donations and allocates them to research projects focused on finding cures and treatments of cancers that have high impact on Asian populations, as well as promoting and facilitating collaborations in Asia and internationally, to accelerate the translation of discovery from laboratory bench-side to Asian patient bed-side, and promoting Public Awareness of Cancer.
Partner
2016 - 2020
Co-led technology team and investments for Eight Roads Ventures in Greater China (rebranded from Fidelity Growth Partners). Personal focus in B2B and Enterprise IT, including but not limited to security, big data, cloud, data center and networking technologies, hyperscale, and the Internet of Things. Sponsored 12 new investments across two vintages. Deployed 70% of current fund by volume and 60% by value. All investments >1 year obtained next round financing and/or on path to cash flow positive.
Partner
2014 - 2016
Sourcing and leading execution of early stage and growth capital venture investments, with a focus on hi-tech, including (but not limited to) consumer internet, connected mobility, O2O, Internet of Things, enterprise IT, and cloud services. Investments made each realized next round funding at 3-5X.
Managing Director - Corporate Development - Greater China
2010 - 2014
Led Cisco's Corporate Development team and activities including formulating investment strategy and sourcing and executing associated strategic and direct investments, LP investments, Joint Ventures and M&A in Greater China. Negotiated Cisco's first Sino-Foreign JV. Invested and realized IPO exit in 21ViaNet (NASDAQ: VNET). Led team to execute nearly $200m in committed investments. Recipient of prestigious global Chairman's Choice award for superior business impact.
Country Manager (Entertainment & Devices) - China
2009 - 2010
Full P&L responsibility for the Entertainment & Devices Division in China, including the retail Windows, Office, MacOffice and Hardware Peripherals businesses. Organizational responsibility of ~100 sales, marketing, business strategy FTEs and vendor staff. Successfully turned around underperforming and loss making business to profitability, reversed share losses to record high share, and maxed out revenue based incentives. Recognized with individual Shine award for superior results for driving cross-group collaboration.
Director - Asia Pacific
2008 - 2009
Entertainment & Devices Division. Responsible for Windows & Office (and MacOffice) retail businesses across Australia, Southeast Asia, Korea, Greater China, and India. Only region globally to achieve revenue targets across all revenue pool responsibilities in all markets. Won company-wide Polaris Award for China team contribution for outstanding achievement. Earned individual regional Results award for superior individual impact.
Director
2006 - 2008
P&L and revenue responsibility for Microsoft's Information Worker Business Group in the PRC and the Greater China Region, including Microsoft Office System, Exchange, and Sharepoint, and other products supporting software and cloud services solutions such as unified communications (including VoIP) and collaboration, search, knowledge management, and business intelligence. Grew business to largest revenue contributor in China.
Associate Principal
1999 - 2006
Advisor to CEOs and senior executives of Multinational and Chinese clients on strategy, corporate finance, organization, and operations. Member of Corporate Finance practice management committee in Asia Pacific region. Specialization in high tech, telecoms, and media and on China related M&A, JVs, and alliances.
Summer Associate - IBD
1998 - 1998
Assisted Taiwanese bank on EUR 500 million Eurobond offering including roadshow preparation and management in London, Frankfurt, and Tokyo; developed discounted cash flow model and analyzed market comparables to value prospective IPO on multiple exchanges; assisted in preparation of pitch proposals for M&A and IPO advisory mandates
Senior consultant
1994 - 1997
Assisted multinational clients, primarily in consumer product sectors, on China entry strategies, JV negotiations, marketing, sales growth, and distribution strategies, and supply chain and demand management initiatives
Industrial Engineer (co-op)
1991 - 1993
Financed undergraduate education, through co-op program of multiple 3 and 6 month full-time employment stints, rotating through Kodaks film and equipment manufacturing divisions; led cross-functional operator and design teams to problem solve in various shop floor improvement, Just-In-Time, business process redesign, DFM/DFA, sourcing, material flow, supply chain management, and Total Quality projects leading to 50-80% inventory, cost and cycle time reductions