Tag: China

Sino-U.S. investment firms are targeting over $4 billion for new funds launched this year

As limited partners increasingly demand greater exposure to emerging market opportunities, venture capital firms with a focus on Asia are bulking up their funds and chasing deals in an increasingly competitive race to own stakes in the next generation of local startups with global aspirations. Over the last year, firms

A new foreign investment bill will impact venture capital and the U.S. startup ecosystem

Bobby Franklin Contributor Bobby Franklin is the president and chief executive of the National Venture Capital Association and previously served as an executive vice president for the CTIA – The Wireless Association. More posts by this contributor Ensuring foreign-born founders can grow their startups in the U.S. Finally, legislation to

Making way for new levels of American innovation

Matt Weinberg Contributor Matt Weinberg is a former White House appointee with the U.S. Small Business Administration, where he served as a Senior Advisor in the Office of Investment and Innovation. More posts by this contributor New tech trade associations will have big role in future tech policy ITC protection

Chinese internet giant Tencent suffers a rare profit drop

Tencent, Asia’s most valuable tech firm, delivered a surprise drop in profit on account of lower investment gains. The firm recorded strong growth with revenue up 30 percent year-on-year to reach 73.7 billion RMB ($10.7 billion) in Q2 2018. But net profit slipped by two percent annually to reach 17.9 billion

Y Combinator is launching a startup program in China

U.S. accelerator Y Combinator is expanding to China after it announced the hiring of former Microsoft and Baidu Qi Lu who will develop a standalone startup program that runs on Chinese soil. Shanghai-born Lu spent 11 years with Yahoo and eight years with Microsoft before a short spell with Baidu, where

Chinese Tesla rival Nio files to raise $1.8 billion in US IPO

Tesla may be looking to go private, but Chinese rival Nio is going the other way after it filed to raise $1.8 billion in an IPO on the New York Stock Exchange. Nio was started in 2014, initially as NextCar, by Bin Li, an entrepreneur who founded online automotive services platform Bitauto.

China’s Didi beefs up its newly-independent car services business with an acquisition

A week after spinning out its driver services business and giving it $1 billion in investment capital, Didi Chuxing has added to it through an acquisition. Xiaoju Automobile Solutions (XAS), which the Didi spinout is called, announced today it has bought Hiservice, a three-year-old company that provides after-service care for car

WeWork China rival Ucommune raises $43.5M more at a $1.8B valuation

Barely weeks after WeWork China raised $500 million, one of its main rivals is refueling its tanks too. Ucommune — the company formerly known as UrWork until a WeWork lawsuit forced a rebrand — announced its $43.5 million Series C round. Beijing-based Ucommune’s new round was led by real estate-focused investment