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 [转帖] Short notes from INSEAD VC - Entrepreneurs Summit 2007 |
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wanderer
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作者：wanderer 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
- China is now the second biggest VC market in the world. Still much smaller than the US, but growing at an amazing pace. The focus is not only on high-tech, but also on high-growth.
- The VC industry is the most internationalized industry in China
- There is a shift from offshore USD investments to onshore RMB investments. This year is probably the year that this shift will take place, partly due to SARFT regulation 75 which tries to limit offshore investments in China
- Local IPO's become a more profitable exit option. For example a IPO on the Shenzhen stock exchange can be quite interesting, with a current P/E average of 51 and reasonable liquidity.
- The average life span of a business plan in China is..... just one month! The shows how fast the market (incl. regulations, competitors) change here. Foreign investors often don't realize this. Competition is cut-throat here and you have to work twice as hard as outside of China to succeed, but you can also grow much faster than outside China.
- Because many funds are trying to get into China, it is getting easier for entrepreneurs to get funded. This means that they get more powerful, and as an investor you need a quick decision process to make sure you don't lose the deal.
- Chinese VC's vs. US VC's: Chinese VC's are more hands-on, have tougher term sheets, invest in several tranches, are more short-term focused, and (of course) have better connections in China.
作者：wanderer 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 [转帖] Short notes from INSEAD VC - Entrepreneurs Summit 2007 -- wanderer - (1462 Byte) 2007-4-12 周四, 04:22 (1238 reads)
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