Ready, Fire, Aim! - Mihail's Public Blog: Here comes the venture money

Friday, July 29, 2005

Here comes the venture money

So it seems, venture capitalists have been increasingly investing in the Chinese version of garage startups, according to this WSJ story (subscription required):

The total number of U.S. venture-capital deals in China in 2004 soared to the highest level in 10 years, according to the Arlington, Va.-based National Venture Capital Association. The 43 Chinese deals dwarfed the 24 investments made by U.S. venture capitalists last year in India, a country better known for its high-tech prowess.

Although the $557 million that U.S. venture firms invested in China last year was less than the $725 million invested in 2003, total venture-capital investment in China last year -- including non-U.S. firms tracked by Beijing-based research concern Zero2IPO Ltd. -- hit $1.27 billion, up 28% from 2003. Indeed, Doll Capital Management co-founder David Chao, at a venture-capital conference in Beijing this month, raised the possibility of a "bubble" in the market, particularly for mid- to late-stage investments in China.

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