Insurers Allowed into Venture Capital World Soon?
Filed in archive Venture Capital on September 14, 2007
The Shanghai Daily is reporting that China may expand venture capital opportunities in the near future.
According to a recent report in the paper, "China is drafting rules to let insurers start venture capital business..." The new regs would also encourage local governments to look for private capital to finance start-up firms in their jurisdictions, according to the article.
The news emerged in part at the Shanghai International Forum of Venture Capital and Private Equity Investment 2007, which concluded yesterday.
The move is an effort to get insurance companies to invest their financial holdings in start-up companies through venture capital funding.
Beijing would like to see venture capital investment in China grow from the 41 billion yuan (about US$5.45 billion) invested in 2006 to something more in the 200 billion yuan a year range, while at the same time decreasing government involvement in venture capital.
Tags: insurance venture capital china shanghai daily
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