Top investor says excessive state support to select sectors may limit VC play in China
Jeffrey Lee, co-founder and managing director at Northern Light Venture Capital (NLVC) Premium
As China’s venture capital market continues its rapid growth riding on Beijing’s endeavours to achieve technological self-reliance, an investment veteran said that excessive government funding could squeeze room for venture investors looking to cash in on the country’s technology advancements.
“Broad [government] support has been the most valuable gift that we’ve received as investors,” Jeffrey Lee, co-founder and managing director at Northern Light Venture Capital (NLVC), told DealStreetAsia in an online interview. “Where we found regret, as sometimes bad side effects, is when a regional- or local-level government overly promotes specific industries by giving too much capital.”
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