Hans Tung, a managing partner at GGV Capital, unveiled GGV's 'Embedded Fintech 50', a list highlighting the rising stars in fintech innovation, at the Nasdaq exchange, February 3, 2023. Credit: Hans Tung via Twitter
The Biden administration is currently mulling plans for a new system to monitor U.S. investment into China, as our News Analysis this week explains, amid fears that American money is fueling its rival’s technological advances.
The reality is that U.S. fundraising for China-focused investment funds is already in steep decline. In 2022, American venture capital (VC) and private equity (PE) firms did not raise any new China-focused funds at all, according to data from Preqin, a financial data provider. And it’s not just the U.S. — capital raised globally for China-focused VC and PE funds also declined precipitously in 2022.
The source of U.S. venture capital investment in Chinese startups has historically been concentrated among a small group of firms. They include companies such as Sequoia Capital, GGV Capital, SOSV and GSR Ventures.Sequoia Capital is an investor in The Wire Digital Inc., The Wire’s parent company. But working out how much these firms invest, and whos
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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.
