Silicon Valley Challenger China Gaining On U.S. Lead With Mega VC Deals - News Summed Up

Silicon Valley Challenger China Gaining On U.S. Lead With Mega VC Deals


NakedHub China is edging up on the U.S. as the largest backer of startups. It's reports like this one that show the steady climb of China as a super force in tech innovation and venture capital. China tech giants led by Tencent and Alibaba are investing in frontier technologies, acquiring cutting-edge tech companies internationally, building hard-to-beat technology ecosystems. This is a light years away from a decade ago when Silicon Dragon first chronicled a Silicon Valley in China. The rivalry pits UCommune backers ZhenFund, Sequoia Capital China, Sinovation Venturesaganst WeWork investor Softbank and its Vision Fund that poured a $4.4 billion investment in the company.


Source: Forbes April 15, 2018 23:03 UTC


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