China: Baidu Ventures gets Legend Star’s Liu Wei as CEO

Visual from Baidu's website.

Chinese internet giant Baidu Inc’s early stage investment arm Baidu Ventures has appointed Liu Wei, a former partner at Legend Star, as the CEO of company’s venture firm that focuses on artificial intelligence and virtual reality.

In his new role, Liu Wei will oversee operations of the investment unit, according to a report in China Money Network.

The Beijing-based company created the venture capital unit in September last year and also announced a $200 million sum to invest in artificial intelligence projects. It was chaired by Robin Li Yanhong, the founder and chief executive who is now serving as chairman of the board and chairman of the investment committee of Baidu Capital.

Earlier this month, Baidu also appointed Qi Lu as COO. Qi Lu was executive vice president at Microsoft and headed its unit in charge of Office, Bing and Skype.

Liu Wei joined Legend Star, the venture arm of Legend Holdings, in 2011, where he focused on investing in the technology and artificial intelligence sectors.

He has invested in over 60 artificial intelligence start-ups and projects in the U.S. and China, including face recognition firm Face++, Chinese voice recognition company AIspeech, drone data and services provider Airmap, and Chinese smart home company Dding.

Recently, Baidu hired Zhang Jingling as the Chief Financial Officer of Baidu Capital and its food delivery unit Baidu Waimai. Zhang was earlier with Chinese smartphone maker Xiaomi, where she served as the Vice President of the company and looked after finance and investments.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.