One of the most notorious bankers of the Asian financial crisis recently stopped running a major fund at Intellectual Ventures, Nathan Myhrvold’s $5 billion investment firm, after posting some poor financial returns, according to a Forbes blogger
Andre Lee was a managing director of Invention Development Fund, an approximately $590 million fund he claims to have co-founded and set up to partner with inventors to develop inventions with an emphasis on a technology transfer program in Asia. Lee was widely blamed for almost single-handedly bringing down one of Asia’s best known investment banks, Peregrine, in 1998, by lending a large part of its capital base to a troubled Indonesian taxi company with links to the then ruling Suharto family. It was one of the big bank failures of the Asian financial crisis….
Read more at http://blogs.forbes.com/nathanvardi/2011/07/07/how-a-notorious-banker-left-intellectual-ventures-with-a-poorly-performing-fund/
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