China tech’s global ambitions alert global VCs

Chinese technology groups are looking for more overseas deals, giving foreign venture capital investors increasing opportunities to invest in the growth story.

Overseas expansion by Chinese technology firms means foreign venture capital groups are being handed increasing opportunities to get a slice of the stellar growth action, an industry conference heard on Friday.

With slowing growth at home, Chinese technology groups are increasingly looking to invest abroad, with such investments more than doubling to $37.8 billion last year, according to consultancy PwC. 

“For us especially, who’ve been investing in information technology, the biggest trend now and opportunity is that more and more Chinese technology companies are going abroad,” Nobuaki Kitagawa, chief executive of CyberAgent Ventures China, told Slush Shanghai, a start-up conference.

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