Aditya Hadi Pratama · · 1 min readChinese VC firms eye Singapore expansion amid challenges at home
Chinese VC firms, such as GSR Ventures, Matrix Partners China, and Source Code Capital, have been or are considering hiring representatives in Singapore to scout for potential startups in Southeast Asia, The Information reported.
GSR Ventures and Matrix Partners China – both investors in ride-hailing app Didi Global and food delivery service Ele.me – have hired David Yin and Zixi Zhu respectively to look for opportunities in the region, the report noted.
ByteDance’s early investor, Source Code Capital, is also considering hiring an investment analyst in Singapore, sources told The Information.
The trend may continue to grow as China’s tech business climate worsens, with strict Covid-19 quarantine policies and a ban on online tutoring and crypto-related businesses in place.
However, these VC firms will still maintain an investment business in their home country, especially in strategic areas such as semiconductors and cybersecurity.
See also: These are the most active investors in Singapore’s startups
Editing by Miguel Cordon and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
