The supply chains of Chinese telecoms giant Huawei have been crippled by U.S. sanctions over the past couple of years. Now it’s fighting back at home, thanks in part to an investment spree carried out by its wholly-owned fund, Hubble Technology Venture Capital.
At The Wire, we periodically look at prominent firms investing in China, examining their management teams and investments. So far, we’ve featured Yunfeng Capital, Hillhouse Capital, IDG Capital, and 5Y Capital. This week, we take a look at Hubble Technology and how it’s helping Huawei invest its way out of its financial woes.
HUBBLE: A BRIEF HISTORY
Hubble Technology was founded in April 2019, a month before the Trump administration put Huawei on the Commerce Department’s entity list, barring U.S. firms from doing business with the company. The fund’s size hasn’t been disclosed, but it has registered capital of $3 billion RMB ($470 million), according to Asset Management Association of China reco
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
When Ken Wilcox, a former CEO of Silicon Valley Bank, moved to Shanghai in 2011, he was optimistic and eager to start up the bank's new joint venture in China. A decade later, however, he is extremely cynical about U.S. business interests in China. While analysts will, rightly, be debating SVB's missteps in the U.S. for the foreseeable future, Wilcox insists the bank's challenges in China should not be overlooked.
The former secretary of state talks about how the Trump administration changed U.S.-China relations; why he accused Beijing of genocide in Xinjiang; and why U.S. politicians should visit Taiwan.
