We are stepping up our pace of investing abroad and bringing in global talent ... ”
“I used to like those days in the coeducational liberal arts college because I not only learned economy but also knowledge of liberal arts,” said Tang.
He especially enjoyed the courses taught by a female development economics professor from Pakistan. He often thought of questions like how developing countries can come out of poverty. He brought those questions to class, and learned from the professor about Grameen Bank (the microfinance and community development organization of Bangladesh that, along with its founder Muhammad Yunus, was jointly awarded the Nobel Peace Prize in 2006).
So, in the summer of 1997, Tang went to Bangladesh to learn from Yunus the concepts of microcredit and microfinance.
During his early career, Tang joined Wall Street investment bank Donaldson, Lufkin & Jenrette where he worked on initial public offerings, bond issuances and mergers and acquisitions.
Upon returning to China in 2000, he served as a director with AsiaInfo, and established China Growth Capital, a venture capital firm investing in early-stage consumer and enterprise technology startups.
Ten years on, CreditEase has four branches in the United States, Israel, Singapore and China’s Hong Kong. Tang visits the US up to three times a year to teach at Harvard University and Stanford University as well as interact with financial services industry leaders and venture capital institutions.
CreditEase Corp has set up the Fintech Investment Fund totaling $1 billion, half of which will be invested abroad.
“We have invested in deals in sectors of blockchain, mobile payment, Bitcoin and supply chain finance,” said Tang. “We not only bring them funds but our operational and innovation experience in China.”
In its latest move, CreditEase, in association with other investors, invested $75 million in San Franciscobased Tradeshift Holdings Inc.
Tradeshift Holdings Inc operates a cloud-based businessor B2B platform that helps companies to enhance their invoicing, workflow, and supplier financing processes.
Tang also pays attention to the Israeli market where CreditEase has set up a fund with about $30 million to invest in tech startups. They will bring Israeli technologies to China’s huge market.
“Israel is famous for innovation and Israeli companies seek internationalization from the very beginning because their local market is small,” said Tang.
Tang Ning, founder and CEO of CreditEase Corp.