Kun-Lin Liu
About Kun-Lin Liu
Independent director of Rising Dragon Acquisition Corp. (RDAC) since October 10, 2024; experienced Greater China venture capitalist with 20+ years investing experience, including roles in VC firms and operating leadership in technology supply chains . Education: B.S. in Electrophysics (National Chiao-Tung University, Taiwan, 1985) and M.S. in Materials Science & Engineering (National Taiwan University, 1987) . Current RDAC board role includes Audit Committee membership and Chair of the Nominating Committee; he is classified as independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Capital First Partners | Partner (VC) | Jul 2019 – Dec 2021 | Taiwan deal sourcing focus |
| Shanghai Vargo Technology Co., Ltd. | Chief Strategy Officer | Dec 2013 – Jan 2017 | Built smartphone supply chain networks |
| Fortune International Partners | Partner (VC) | May 2006 – May 2010 | PRC investments lead |
| Lakala Payment Co., Ltd. | Director | 2007 – 2010 | Early investor; board service |
| Taiwan Venture Capital Association; Angel Association | Industry Consultant | Apr 2010 – present | Ecosystem advisory roles |
| Transmedia Communications Inc. | Investor | 1999 (exit) | Company acquired by Cisco; cited as top investment outcome |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Hainan Manaslu Acquisition Corp. (HMAC) | Independent Director | Aug 2022 – Aug 2023 | Resigned at closing of Able View combination |
| Dee Van Enterprise (Taiwan public co.) | Independent Director | Jun 2021 – Jun 2024 | Power adapters sector |
| 3S Silicon Tech Inc. (Taiwan public co.) | Independent Director | Since Jun 2022 | Power device assembly equipment |
Board Governance
- Independence: RDAC identifies Liu as an independent director under Nasdaq standards .
- Committee assignments:
- Audit Committee member; committee chaired by Chengming Dou; all members independent and financially literate; Dou designated audit committee financial expert .
- Nominating Committee chair; committee members are all independent .
- Independent director sessions: Independent directors (including Liu) will hold regularly scheduled meetings of only independent directors .
Fixed Compensation
| Component | Amount/Terms |
|---|---|
| Annual cash retainer | $0 prior to or in connection with the initial business combination; only out-of-pocket expenses reimbursed . |
| Committee member/chair fees | None prior to initial business combination . |
| Meeting fees | None prior to initial business combination . |
| Other director pay | None; no compensation to initial shareholders/officers/directors before business combination . |
Performance Compensation
| Incentive element | Terms |
|---|---|
| Equity awards (RSUs/PSUs/options) | None disclosed for directors before business combination; post-combination director compensation to be determined by the combined company . |
| Performance metrics | Not applicable/disclosed for directors . |
| Clawback/change-in-control/tax gross-ups | Not disclosed for directors . |
Other Directorships & Interlocks
| Relationship | Detail |
|---|---|
| SPAC network link | RDAC CFO Wenyi Shen served as CFO of HMAC; Liu served as HMAC independent director, indicating prior working familiarity within the SPAC ecosystem . |
Expertise & Qualifications
- Venture capital and cross-border investment expertise (Greater China, supply chain, payments, device/semiconductor equipment) supporting diligence and target evaluation .
- Audit Committee member status implies financial literacy per board determination of committee qualifications (committee members financially literate; committee led by an SEC-defined financial expert) .
- Nominating Committee chair role indicates governance and board composition oversight experience .
Equity Ownership
| Holder | Ordinary Shares | RDAC Units/Rights | Ownership % | Vested/Unvested | Options | Pledged/Hedged |
|---|---|---|---|---|---|---|
| Kun-Lin Liu | 0 | 0 | 0% | Not disclosed | None disclosed | None disclosed |
Notes: The DEF 14A table of beneficial interests shows Liu held no RDAC ordinary shares or units as of September 17, 2025; no pledging/hedging was disclosed .
Governance Assessment
- Strengths:
- Independent status, audit literacy, and chairmanship of the Nominating Committee support board oversight and independence mechanisms at the SPAC stage .
- No director compensation pre-business combination (except expense reimbursement) limits pecuniary conflicts tied to deal timing for independent directors .
- Watch items / red flags for investors:
- Controlled company risk post-closing: PubCo intends to rely on Nasdaq “controlled company” exemptions, reducing requirements for a majority-independent board and fully independent compensation/nom-gov committees; controlling shareholder will hold ~80–83% voting power, lowering minority protections .
- SPAC conflict framework: RDAC discloses officers/directors may have interests different from unaffiliated holders due to sponsor economics and incentives to complete a deal; while Liu personally held 0 shares, the structure creates potential misalignment between sponsor-affiliated interests and public holders .
- No disclosed director stock ownership guidelines or alignment mechanisms at SPAC stage; Liu’s beneficial ownership is 0, suggesting limited direct “skin in the game” relative to sponsor insiders .
Appendix: RDAC Committee Details (for reference)
- Audit Committee: Members—Kun-Lin Liu, Yucan Zhang, Chengming Dou (Chair); all independent; financial literacy required; Dou is the SEC “audit committee financial expert” .
- Nominating Committee: Members—Kun-Lin Liu (Chair), Yucan Zhang, Chengming Dou; all independent .
- Independent director sessions: Regular executive sessions of independent directors will occur .