NUMBER OF THE DAY
China's venture capital market crashed to $2.6 billion in August, the weakest month in three months.
💸 Fundraising Drought: Only nine PE/VC funds raised a meager $350 million in H1, while globally the industry booms. Just three mega-deals above $100 million in August.
🇭🇰 Hong Kong Awakens: Foxconn invests in local robotics firm, seven deals in one month after years of sluggishness, universities launch venture funds with hundreds of millions.
Watch: China's VC scene faces a dilemma – while Hong Kong seeks new paths with government money and university funds, mainland business is drying up, caught between economic weakness and geopolitical tensions.
The China Survival Guide for Western Businesses
Entity setup, WeChat strategy, hiring your first local team. 12+ years on the ground in Shanghai.
