ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Chinese venture capitalists take a shine to startups again

Success against virus, rivalry with US and central bank kick-start funding boom

Chinese startups raised about $33 billion from investors in the first eight months of 2020, with the amount surging in the most recent months.   © EPA/Jiji

SHANGHAI -- Zong Wenhao, the chief executive of Shanghai DominantTech, an autonomous driving startup, recently breathed a sigh of relief as his company managed to raise additional capital after months of frustration.

The funding valued the company at 100 million yuan ($14.6 million), a 10th of what Zong had expected, but the fact that the Shanghai-based startup was able to attract fresh investment after having sought it out since the autumn of 2019 speaks to the recuperation of the market.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more