After two years of struggling to raise money, Chinese start-ups are seeing interest from venture capitalists pick up again, as the boom in the US crosses over the pacific.
“The capital winter is over, competition for deals is fierce,” said Ming Liao of Prospect Avenue Capital. “You need to bring something to the table more than just cash to get into deals now.”
The number of venture deals in China rose 56 per cent in the first quarter from a year earlier, the fourth consecutive quarter of rising activity, as start-ups pulled in Rmb354bn ($55bn) in investment, according to data provider ITjuzi.
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