Silicon Valley Bank’s bankruptcy has created a sense of panic among China’s tech start-up and venture capitalists, as the California-based lender was a bridge between US capital and Chinese entrepreneurs.
The reorganisation is in line with e-commerce giant Alibaba’s efforts to stay competitive in China’s vast on-demand local services market, which is dominated by Meituan.
Bao has been an active matchmaker who helped introduce many of China’s largest and best-known technology companies to the capital markets of Hong Kong and New York