With little or no fanfare, China is assuming an influential role within the global biotech industry. For example, Bio Veda Capital's announced formation of its new Bio Veda China Fund provides another valuable lift to biotech investing despite widely held industry views that the industry is still its infancy. Most of the Biotech venture critics claim that in comparison with Singapore and Taiwan, mainland China still lacks the trained management, [...] Read More
News is slow coming out of China during the best of times. During Chinese New Year in the "Year of the Dog," make that at a complete standstill. A survey by the influential China Venture Capital Research Institute located in Hong Kong and administered by the capable, Dr. Gongmeng Chen, indicates that China's venture capital size will continue to expand, but the chasm between domestic and foreign venture capital firms [...] Read More
It's no surprise that venture capitalists continue their gold rush into China's broadband and wireless market. With more than 350 million mobile subscribers- the delivery of broadband content across 2.5 and 3G networks can only grow exponentially. According to Digital Media Asia, Wireless China, a mobile content services firm based in Beijing, has raised a $1.2 million seed round of funding. The round was co-led by Shanghai-based Dragonvest Partners and U.S.-based [...] Read More
According to the national venture capital association, venture capital investing in the biotechnology arena continue to be robust. Biotechnology had $1.1 billion going into 99 deals in the third quarter, Heesen told BioWorld Today. VCs invested $1.2 billion in biotech in 124 deals in the second quarter, and in the first quarter, "the strongest quarter ever recorded for the amount of money" for biotech, VCs invested $1.5 billion in 106 deals, [...] Read More
China's pharmaceutical industry is booming, and there are speculations that, given its aggressive growth, China's biotech industry is on its way to becoming a world player. For their study, Singer and his colleagues selected 22 small- and medium-sized biotech firms from literally thousands operating in the health sector for close scrutiny. They looked for companies that were innovative, both scientifically and in business. The portrait that emerged is of a dynamic sector [...] Read More
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This posting is an abstract from a recent broadcast held on the development of Chinese venture capital at the ABP (Advanced Business Park) in the Zhongguancun high-tech district of Bejing. The forum held last month does illustrate the high priority now given to the development of venture industry. Xu Weiping, executive director of Dauphin International Group, the developer of the science business park, hosted the venture forum and some of the [...] Read More
If you happen to be in Beijing this week, the China Venture Capital Semi-Annual Forum is being hosted there by the Hong Kong-based Zero2IPO Group. Registration for the conference starts at 3PM at The Great Wall sheraton Hotel Beijing. There is an invitation only cocktail reception Tuesday night. The actual conference begins Wednesday morning (July 11) and you can register then, as well, on the hotel's 2nd floor from 8AM to [...] Read More
China's venture capital's emerging industry has struck the gong for much needed reforms for domestic venture firms at the sell out China Venture Capital Forum now being held in Shenzhen with over 1000 attendees. Sure, this discussion does reaffirm the purpose of this blog to educate and inform more global investors on these prescient trends: China's policy drivers have full intentions to reform its nascent venture capital industry, liberalize the listing [...] Read More
Bill Gurley has a long-but-interesting article online at the moment about what's really going on in the venture capital industry. And since I like people with the guts to stand up and say that they can cut through the crap and tell you what's really going on, I thougth I'd give him a plug here. I love Gurley's before-and-after graphic. The Venture Capital industry was an overweight couch potato; now [...] Read More
Nine out of ten venture capitalists expect a decrease in VC investment in 2009. That, according to a recent survey conducted by the National venture capital Association. The survey, conducted in late November and early December, asked more than 400 VCs about the outlook for next year. Some 92 percent of them forecast decreased investment (measured in dollars, but not necessarily in deals) for 2009. While there may be less [...] Read More
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Venture Beat doesn't focus a great deal of its attention on China (in my opinion), but they had a great interview recently with Kai-Fu Lee, the former president of Google China.
The article looks at problems in the tech startup and venture capital scene in China. One is the nature of education in the workforce. While it's easy to find people with advanced technical knowledge, they generally lack the more holistic skills needed in entrepreneurship.
Culture is a big problem for the startup scene. The older generation (the parents of potential tech workers) a skeptical of the startup lifestyle. They don't understand the idea of starting off at a lower paying job with the hopes of benefiting from the company's success. And college graduates in China pay more attention to their parents' opinions that in most Western countries.
The Venture Beat article looks at a couple of other problems faced by the startup scene. It's an eye opener.
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With the launch of China's stock markets in 1992, Financial news reporting has taken on a wider and more prominent educational role in advising the increasing number of private equity investors. The country now has a plethora of Chinese financial media vying for a slice of the burgeoning 100 million Chinese shareholders all purporting to follow the financial news for market information. According to Professor Nailene Chou Wiest at the Journalism [...] Read More
The China Daily reported this week that European PE Firm CVC Capital Partners is opening a Beijing office. Founded in 1981, CVC Capital Partners ("CVC") is a leading global private equity and investment advisory firm, headquartered in Luxembourg with a network of 19 offices across Europe, Asia and the USA. This would be CVC's first Mainland office in China, though it has offices in Hong Kong, Tokyo, Singapore, and Seoul. [...] Read More
Asia Pulse is among a number of sources following the growing involvement of foreign private equity (FPE) in China's real estate market. The venture capital company Zero2IPO is suggesting three reasons for the trend: Beijing real estate values are being impacted by the coming 2008 beijing olympic games. The 2010 Shanghai World Expo is having much the same impact on real estate values in Shanghai. The idea that an adjustment in the value [...] Read More
I wrote recently about how rosey the venture capital picture was for greentech firms. Several stories (Venture Beat here and here, TechCrunch) have stressed the continuing downturn in private equity and venture capital fundng.
In the world of venture capital funds, only 17 funds even raise money in the third quarter this year. That's the smallest number in 15 years. A year ago the number was 63; two years ago [...] Read More
Last year, former Morgan Stanley chairman Sir David Walker issued a report that put greater onus on private equity funds in Britain to provide more details of the financial performance of companies they take over. Sir David's review was triggered by increasing criticism of the private equity industry. It's been accused of a secretive, asset-stripping approach to management that has resulted in thousands of job cuts in recent years.The new [...] Read More
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I saw a very thought-provoking article on the Chinese Yuan early this month. I filed the article, but didn't writing about it because, well, I've written about the Yuan several times in the last year and it would be possible to let that single topic take over any blog on China's economics.
In the article, John Tamny basically argues that currencies should be more like units of measurement that like commodities. The dollar, the Yuan, the Yen, the Euro, the Indian Rupee, the Congolese Franc, and even Laos' Kip should have a more or less fixed value. When they begin to float like pork bellies on a futures market, it becomes difficult to make economic decisions. Can you imagine a world where the length of the inch or the hour changed from day to day based on how much demand there was for time or for tape measures?
But the debate has heated up. Peter Schiff thinks the Yuan should be stronger. And he thinks that the Chinese are manipulating the value of the US Dollar, not the value of their own currency. Like a number of economists (including US Treasury Secretary Tim Geithner), Schiff seems to think that the relative value of the Yuan to the Dollar is a major economic structural problem that is creating dangerous imbalances of some kind. On the other hand, Clive Corcoran thinks the issue is a red herring.
Will the value of the Yuan change significantly soon? What will be the real consequences if it does...?
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With little or no fanfare, China is assuming an influential role within the global biotech industry. For example, Bio Veda Capital's announced formation of its new Bio Veda China Fund provides another valuable lift to biotech investing despite widely held industry views that the industry is still its infancy. Most of the Biotech venture critics claim that in comparison with Singapore and Taiwan, mainland China still lacks the trained management, [...] Read More
News is slow coming out of China during the best of times. During Chinese New Year in the "Year of the Dog," make that at a complete standstill. A survey by the influential China Venture Capital Research Institute located in Hong Kong and administered by the capable, Dr. Gongmeng Chen, indicates that China's venture capital size will continue to expand, but the chasm between domestic and foreign venture capital firms [...] Read More
It's no surprise that venture capitalists continue their gold rush into China's broadband and wireless market. With more than 350 million mobile subscribers- the delivery of broadband content across 2.5 and 3G networks can only grow exponentially. According to Digital Media Asia, Wireless China, a mobile content services firm based in Beijing, has raised a $1.2 million seed round of funding. The round was co-led by Shanghai-based Dragonvest Partners and U.S.-based [...] Read More
According to the national venture capital association, venture capital investing in the biotechnology arena continue to be robust. Biotechnology had $1.1 billion going into 99 deals in the third quarter, Heesen told BioWorld Today. VCs invested $1.2 billion in biotech in 124 deals in the second quarter, and in the first quarter, "the strongest quarter ever recorded for the amount of money" for biotech, VCs invested $1.5 billion in 106 deals, [...] Read More
China's pharmaceutical industry is booming, and there are speculations that, given its aggressive growth, China's biotech industry is on its way to becoming a world player. For their study, Singer and his colleagues selected 22 small- and medium-sized biotech firms from literally thousands operating in the health sector for close scrutiny. They looked for companies that were innovative, both scientifically and in business. The portrait that emerged is of a dynamic sector [...] Read More
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