Capital raising

Chinese state-backed funds bet on the VC market

Although the venture capital market has cooled down, state-backed funds have woken up and quietly expanded their networks.

Investment from Chinese RMB funds has continued to decline over the past quarter, but some state-backed funds have quietly woken up and are tapping the Chinese venture market.

In the third quarter of the year, Chinese state-backed funds invested in a total of 85 projects, making up about 10% of total investment in the market, according to research firm IT Juzi.

Shenzhen Guozhong Venture Capital made nine investments in that time and was the second most active fund in China's venture market.

The Chinese central government and Shenzhen municipal investment fund jointly set up Shenzhen Guozhong Venture Capital in 2016. The fund manages...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222