Hong Kong 2019
Yuan Liu, ZhenFund
Ming Yeh, CSC UpShot
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Years of the Pig
: 1935, 1947, 1959, 1971, 1983, ...
Lucky Colors: Yellow, Gray, Brown, Gold
Panelists Chuck Comey, Ying Wang, Dixon Doll, David Lam, Olivia Wang, Ming Yeh, Lee Hsieh, Kyle Lui with Rebecca Fannin
Rebecca Fannin, Phil Libin, Selina Wang (Left) John Foster, Gene Banman, Chris Barnett, Ric Kostick, David Sullivan
January 24, 2019 event in Silicon Valley
Tariffs/geopolitics are hurting business but the opportunity in China is so large that some US companies are still pursuing it as first international market
Era of big China deals in the US is over
3. Smaller, more strategic China to US deals are getting done despite regulatory crackdown
4. Getting into Chinese markets takes persistence, negotiating skills
5. AI and 5G telecommunications are the big tech innovations that will shake up many sectors globally
. Optimism about cross-border, US-China deal making
7. China venture centralizing around top funds
8. Going local in China is the way to win market share
9. Current regulatory curbs on China deals in US critical technology areas is mainly a political (?) issue
Higher tariffs on China exports to US are already hurting the bottom line of B2B businesses in America
For more insights, check out this
VC deals video
of the panel at Silicon Dragon Valley 2019.
Legacy Ventures, a VC fund-of-funds has raised $312.8 million for its ninth fund. The Palo Alto-based investor has backed
Andreessen Horowitz and other leading venture capital firms.
China and Hong Kong counted 86 venture-backed private companies in the unicorn billion-dollar valuation club in 2018. That's out of 311 unicorns globally, including 151 from the US, according to an analysis of CBI Insights' running tally of unicorns.
China's video and news app ByteDance claimed in the number one unicorn spot, valued at $75 billion, ahead of Uber.
Another way to look at these trends is reported by Bloomberg: China created fewer unicorns in the fourth quarter of 2018 than the previous quarter, a sign of a slowing Chinese economy and declining tech investment and valuations.
Kathy Xu of Capital Today tops the 2019 Forbes list of
Other notables we know in the top 10 are Jenny Lee of GGV Capital, Nisa Leung and Helen Wong of Qiming Venture, and Annabelle Long of Bertlesmann Asia.
How the US could lose a tech cold war.
It's one thing to convince China to halt its state-sponsored theft of commercial secrets, stop forcing multinationals to hand over technology in exchange for market access, and scale back its mercantilist ambitions to dominate the technologies of the future. This is only asking China to play by the same rules as everyone else as it pursues its goals.
Security concerns, on the other hand, require a different, more targeted approach that seeks to minimize both the threat and the harm to the U.S. economy. Bloomberg opinion.
"For every dollar we spend on containing China, we should be spending on our labs and innovation centers," says
Gary Rieschel, the founder of
Qiming Venture Partners and a pioneer U.S. investor in the Chinese tech sector. He adds:
"The U.S. does not do defense well."