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