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Venture capital market

Venture capital market
The latest news, analysis and opinion on Venture capital market. In-depth analysis, industry insights and expert opinion.
Terry Wong Ping-sau, CEO of the Hong Kong Science and Technology Parks Corporation (HKSTP), poses for a portrait on September 1. Photo: Sun Yeung
Banking & finance

Hong Kong aims to scale its tech ecosystem, nurture more unicorns: HKSTP CEO

Innovation and technology hub is attracting global capital, supporting and fostering bigger and more mature investment deals.

Yuan

Open Questions | Private equity’s Fang Fenglei on investing in China

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China’s private sector

As bubble tea craze cools in China, can full equity buyouts revive growth?

Ant Group

Ant Group spin-offs pursue independent growth with strategic capital moves

The Chinese fintech giant’s three spin-off units are accelerating their capital-raising efforts after gaining operational autonomy in 2024.

The Ant Group booth at the World Artificial Intelligence Conference in Shanghai on July 17, 2026. Photo: Reuters
China’s private sector

How Beijing became China’s biggest tech venture capitalist, from AI to chips

China’s tech sector thrives on state-backed investment, reshaping funding dynamics and sparking a debate about balancing risk and innovation.

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Banking & finance

Chinese investors pour US$1.2 trillion into private securities funds

Surge in securities funds drives private fund assets to record for 12th straight month as VC, PE investments in tech rebound.

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Banking & finance

HKIC reports double-digit investment return as ‘patient capital’ bears fruit

The government-owned investment firm generated nearly HK$6.5 billion in its second year, as Hong Kong’s economic vision begins to take shape.

Clara Chan Ka-chai, CEO of the Hong Kong Investment Corporation (HKIC), speaks during the International Forum for Patient Capital in Hong Kong last May. Photo: Jonathan Wong
Semiconductors

China Life sets up chip fund to support long-term innovation

The US$737 million yuan fund for semiconductor investment to support chip firms with ‘substantial technical know-how and resources’.

Robotics

Unitree IPO to test valuations as venture capital floods China robotics

The robot maker plans to raise 4.2 billion yuan by selling at least 40 million shares that implies a valuation of around 42 billion yuan.

DeepSeek

China’s DeepSeek nears US$7 billion haul in first-ever funding round

DeepSeek’s founder and CEO Liang Wenfeng is reportedly committing around 20 billion yuan of his own capital.

DeepSeek long rejected external funding to focus on pursuit of artificial general intelligence. Photo: AFP
Artificial intelligence

Exclusive | How early bet on photonics gave this Chinese venture capital firm an AI windfall

For Mi Lei, founder of venture capital firm CAS Star, the sudden fascination with photonics is less a surprise than a delayed validation.

Optics have been drastically revalued as AI clusters scale to unprecedented sizes. Photo: Shutterstock Images
Banking & finance

China’s private funds see assets soar by over US$400 billion amid tech boom

Chinese investors are putting more money into private equity, venture capital and other private funds amid a surge in tech investment.

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US-China tech war

China rejects claims of curbing US tech funding as Beijing pursues self-reliance

While reaffirming Beijing’s openness, the NDRC also stressed its support for home-grown AI and semiconductor industries.

Artificial intelligence

China’s AI start-up funding triples in first quarter amid bets on LLMs, robotics

The fundraising boom follows years of state-led efforts to channel capital into strategic sectors such as chips, AI and manufacturing.

AI-related start-ups in China secured more than 110 billion yuan in the first three months of the year. Photo: Shutterstock Images
Banking & finance

China private equity activity picks up as investors focus on tech, AI prospects

‘From a valuation point of view, this is still an attractive moment,’ as new growth drivers emerge from China’s tech sector, analyst says.

A staff member of Keenon Robotics debugs a humanoid robot in Pudong, Shanghai, on April 2. The robotics industry has attracted private equity interest in China. Photo: Xinhua
Technology

Hong Kong tech hub progress ‘significant’, Dalton Venture’s Steve Sun says

City’s measures to retain research talent and encourage the commercialisation of research results ‘gradually taking effect’, venture capitalist says.

Banking & finance

HKIC, Gobi Partners and HKU launch fund to back university research start-ups

Gobi-HKU Fund I makes first bets at launch, investing in robotics and AI drug design spin-offs born from university research breakthroughs.

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China economy

China’s state-led venture capital revival risks losing momentum

Four government funds formed to back projects, but lack of funding diversity could risk stalling the industry again if policy shifts.

Several government funds have been formed in China to support investments in key projects. Photo: NurPhoto via Getty Images
United States

Opinion | Chilling effect of US outbound investment rules will extend beyond China

Outbound investment rules introduced last year are expanding and hardening into law, chilling US investment across Asia’s tech ecosystems.

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Banking & finance

Hong Kong’s US$8 billion wealth fund eyes fintech, aerospace and AI for growth

The Hong Kong Investment Corporation will use the city’s advantages amid global competition, geopolitical challenges, CEO Clara Chan says.

IPO

From labs to listings: capital markets are the next battleground in the AI race

Stock exchanges have become another barometer in the US-China tech rivalry as markets assess a wave of start-ups in real time.

Illustration: Henry Wong
China technology

China’s nuclear fusion start-ups power up with record funding round

Startorus Fusion raised US$143 million, a record for a private firm, while Supermag New Energy received ‘several hundred million yuan’.

China has launched an association specifically tasked with accelerating funding for the commercialisation of nuclear fusion technology. Photo: Shutterstock
Mergers & Acquisitions

China’s M&A revival points to deeper investor confidence in growth prospects

Deal value is expected to rise, with strategic transactions and overseas ambitions driving momentum.

Banking & finance

China launches venture capital fund to lead the charge on tech investment

The fund, which will put state-backed money behind early tech bets, could guide trillions of yuan in private capital to chosen sectors.

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United States

China’s AI sector poised for growth despite US restrictions: venture capitalist

China’s AI sector gains confidence with DeepSeek’s emergence, but tech ecosystem needs to improve, GSR United Capital’s Zhou Qi says.

China and the US are the two top players in global AI development, with the former leading in humanoid robotics and open-source large language models, according to a venture capitalist. Photo: Reuters
Robotics

China’s Deep Robotics raises US$70 million as sector draws more investors

Company founder Zhu Qiuguo says the new funding would be used for research and the recruitment of top robotics talent.

Deep Robotics’ LYNX M20 quadruped robot is designed to support logistics and delivery operations. Photo: Handout
Banking & finance

Healthcare and tech to drive Asia-Pacific private equity deals amid slower growth

Asia-Pacific private equity managers are forecasting higher returns and fewer geopolitical risks than peers elsewhere, a new survey finds.

Fashion

How did Kim Kardashian’s Skims become a US$5 billion brand?

The shapewear and athleisure brand founded by Kardashian has been valued in the billions after a recent round of fundraising led by Goldman Sachs Alternatives in the US.

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