SILICON DRAGON NEWS      @SiliconDragon               March 18, 2019         
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Top China Venture Funds Beat Most US Funds for Performance - 21.4% 

VC funds

Investment returns of top-tier Chinese venture capital funds outdo most US venture funds. Surprised?
In a benchmark analysis of returns, seven China venture funds from prominent funds investing between 2010 and 2013 earned a return of 21.4 percent. That's higher than 19.3 for 141 US funds but not at the level of 34 percent returns of the top 25 US venture funds, according to a recent analysis done by a major Sino-US venture capital investor for my next book,   Tech Titans of China, published by Hachette Book Group. 
A separate study showed that Chinese funds generated 1.79 times returns, slightly higher than US at 1.70 and Western European funds at 1.75, analysis by eFront, a private equity software service, shows. 
China venture is honing in on a core group of firms that have good track records. Qiming Venture Capital  claims 30 percent returns on some China funds. GGV Capital claims 25 returns overall from its US and China funds.
  Draper Fisher Jurvetson has stopped investing in China, because as Tim Draper says, his firm couldn't get the money out with China's capital controls. 
Read more at Forbes , China VC Surprise .

Qiming Venture  has led a $50 million, Series B investment in Reddoorz, a Singapore-based budget hotel operator.   

Sequoia Capital China has led a $30 million, second round financing of social commerce solutions startup Shanghai Huzan Information.  

China Creation Ventures has poured investment in Yunhu Technology, a developer of a China internet platform for medical examination that connects 1,000-plus local medical institutions. 

Sequoia Capital China has made a $44.7 million investment in a B series round of financing for software as a service Jushuitan, an enterprise resource planning  tool.

Indian affiliates of Sequoia, Lightspeed and Matrix are putting $10 million in social commerce startup EkAnek, a lifestyle brand builder.   

Cloud kitchen restaurant company Rebel Foods, which operates the Faasos brand, has raised $15.8 million from Sequoia Capital India

Lee Fixel, head of Tiger Global Management's private equity business, is leaving the firm after more than a decade to manage his own money. He was an investor in Just Dial, Make My Trip and Flipkart, which were covered in Startup Asia, a book about India as an up and comer after China.  

Indian hotel operator Oyo has acquired Singapore co-working space Innov8. Fresh from closing $1 billion in financing led by SoftBank Vision Fund, Oyo is upgrading its hotels in China and Southeast Asia. 

Wall Street wants a slice of China's booming rental housing. New York-based private equity firm Warburg Pincus has led a $150 million funding round in Shanghai rental startup Mofang Apartments.  Last year, Warburg led a $621 million round in Ziroom, a similar rental housing startup based in Beijing. Ziroom is backed by  Tencent Holdings and Sequoia Capital China

Nuro, the SoftBank-funded robotics firm, is launching autonomous-vehicle grocery delivery from two Kroger stores in Houston. Must have liked Meituan's model in China! Do you want your groceries this way? Forbes

Uber, Lyft and Airbnb Alumni will fuel tech's next wave, the New York Times reports. 
The same could be said of a bunch of Chinese startups that have gone public recently. Think Xiaomi, Pinduoduo, Meituan. 

Can China innovation disrupt Amazon?   Digitally China excerpts from Shenyi Wu, former CFO of Pinduoduo and RED, and Julie Chen, previously with Sequoia Capital China). 

Lightspeed China's James Mi sees big opportunities in China tech. He should! His firm backed some of the biggest recent wins: Meituan and Pinduoduo
See Video Interview on Bloomberg. 

Facebook imitates WeChat
3 China VCs don't cut it in bike-sharing
Silicon Dragon News:  March 11, 2019