SILICON DRAGON NEWS
SiliconDragonventures.com                                       October 23, 2017         
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500 Startups
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Bonnie Cheung
Furuzonfar Zehni Chris Fisher
Chibo Tang Jeffrey Chi
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AI Robotics panel  
Artificial intelligence is this season's buzzword in venture circles. But the concern from investors in this technology sector is that the hype exceeds the expectations so far.
That imbalance may shrink though in the next five years as the promise of AI comes to fruition, and more venture investors and young company entrepreneurs work together to help it scale in practical ways.
Read Forbes: AI Hype?
 

DEALS
Intel Capital has led a $100 million, Series A round in Beijing-based AI startup Horizons Robotics.      
 
  The $4 billion raised by China's Meituan-Dianping puts the e-commerce service platform in the stratosphere as the world's fourth-largest startup by valuation, at a lofty $30 billion. An investor group from Tencent led the deal, with China Everbright, Priceline Group and Sequoia Capital China. Meituan-Dianping is the result of a $15 billion merger in 2015 of the two, both backed by Alibaba.    
 
IPOs
    Dragon Victory International , a crowd-funding and incubation service for China entrepreneurs,   began  trading on Nasdaq this past Friday. Shares rose 128% to $13.67 on the debut.   

EXITS
  DCM Ventures has completed the sale of its holdings in portfolio company UCloud in a management buyout transaction that valued the company at $400 million. DCM originally invested in a Series A round in the Shanghai-based cloud service provider in 2013. The exit came after a UCloud decision to raise RMB funds in later rounds and publicly list on China's domestic stock exchanges. The dollar-based Investors were given an option to cash out, which DCM did. 
 
  INDIA / SOUTHEAST ASIA
Amazon-backed fintech startup 
BankBazaar  in Chennai has bagged $30 million in Series D funding led by global credit rating firm Experian.

NOTEWORTHY
The latest on-demand service and monetization innovation from China comes from Moke, which is equipping all Didi ride-sharing vehicles with massage seat mats.  Cost: 1RMB per ride, pay with WeChat using a QR code. H/T George Godula


PEOPLE
Grace Yun Xia w Jungle Grace Yun Xia has jumped from Tencent, where she scouted for deals in Southeast Asia, to Jungle Ventures, one of Singapore's larger VCs with a fund of $100 million. At Jungle, she plans to help portfolio companies strategize for a leap into China. See photo, Jungle's Amit Anand and Vaishali Cooper with Grace (center). 

SELECT VIDEO
Silicon Dragon SF 2017: Tech Chat

Tech chat with Leap.ai founder Richard Liu with investor Wei Jiang of ZhenFund and moderator Robert Bao of Cooley. 
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