BIZCHINA / Overseas Investment
VC investment to scale record
(Shanghai Daily)
Updated: 2006-07-18 15:07
Venture capital firms' investment on the Chinese mainland will hit a
record US$1.5 billion this year, fueled by capital poured into the
Internet, telecommunications and semiconductor industries, a venture
capital research firm has reported.
In the first half of 2006, VC investment on the Chinese mainland reached
US$772 million, up 128 percent year-on-year, according to a recent report
by the Beijing-based Zero2ipo Inc.
"Usually speaking, the first half of the year is not a peak season for VC
investment," Zero2ipo said in the report. "We expect to see a spike in
the second half."
VC investment in the information technology sector was US$562 million in
the first half, 73 percent of the total volume. Of this, Internet firms
got US$276 million and telecom companies raised US$152 million while
US$49.86 million went to the integrated circuit industry, according to
Zero2ipo.
"We are seeking more opportunities in the Chinese Internet industry,"
said Neil Shen, founder and managing director of Sequoia Capital China,
which has established a US$200 million fund to invest in China.
Sequoia Capital, a US-based VC firm, has invested in a Shanghai-based
Internet company 51.com, providing "Myspace" service.
Intel Capital China, with a US$200 million fund, has also invested in
four Chinese companies in the high-tech industry.
(For more biz stories, please visit Industry Updates)
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