Ex-Tiger MD helps women win lead role in China venture industry

New York

THE largest venture capital fund ever raised by a woman is not in Silicon Valley or even the US. It is in Beijing and is run by a former librarian who keeps such a low profile that she is a mystery in her native China.

Chen Xiaohong rarely attends industry conferences or events. She has not given a media interview in more than a decade until agreeing to break her silence this summer. "I don't like being part of a club," said Ms Chen during a four-hour discussion at her firm's headquarters. "I believe in staying independent, making your own decisions."

Ms Chen, 46, is part of an unusual group of female investors who have risen to the top of the venture business in China and helped fuel the country's technology boom. They have backed some of China's most successful star…