U.S.-China capital flows in venture, technology innovation and Hollywood have become increasingly intertwined and look at risk in the face of ongoing trade and tech tensions between these two economic superpowers.
It's going to be an interesting week as Congress gets set to impose new restrictions on overseas investments that would mean increased vetting of funding for venture capital firms, and greater scrutiny of American joint ventures and transactions overseas, plus foreign investments in the U.S. that could harm national security.
The measure would directly hit two California-based strongholds: leading edge technology startups and Hollywood movies.
DEALS
New York City is getting a boost with the launch of IndieBio, a life science accelerator that is working on therapeutic drug discoveries. Accelerator VC
SOSV led a $3.9 million investment charged up by a $25 million sponsorship from New York State. The accelerator will open in 2019.
Go Sean O'Sullivan (SOSV)! who spoke at Silicon Dragon's recent NYC event.
See video of
Sean on the VC panel.
A logistics spin-off of U.S.-listed Chinese online marketplace
58.com,
58 Suyung has snagged $250 million led by InnoVision, Alibaba's logistics arm
Cainiao Network with its parent company an a Russian-China Investment Fund in tow.
China ride-sharing service
Didi Chuxing soaked up a $500 million investment via a strategic partnership with online travel booking service
Booking Holdings for hotel stays
, wising up about ecosystem power.
FUNDS
In China's continuing work to clean up its air, word comes that
Apple intends to co-invest $300 million in a
China Clean Energy Fund that will develop projects that can help supplies tap renewable energy in China.
DEALS
Alibaba and
Tencent are in talks to buy a stake in the Chinese operations of ad conglomerate
WPP Group. The prospective deal would bring in these two China tech giants at a 20% stake in a new holding company comprising the China operations of the agency. WPP would retain majority ownership. China tech giants getting into further and further away far from their original focus.
IPOs
China's fast-growing shopping app
Pinduoduo, founded just three years ago by an ex-Googler, is heading toward a $19 billion IPO in New York. But not without drama. The Chinese online bazaar was hit with a lawsuit over trademark infringement for selling a knock-off product on its online store.
Want to know more about Pinduoduo?
Check out this crash course on
how PDD works by
GGV Capital. No, they're not an investor.
You might also refer to this
Forbes article that raises doubts whether this aggressive app, described as a
Groupon Meets Dollar Store has what it takes.
SPECIAL EVENT
Tickets may be purchased here at
and include a signed copy of the book.
NOTEWORTHY
Check out this fascinating article in the
NY Times
about how China is so wild about tech that it's coming out with needless, often defective gadgetry: brain scanners that don't work, police robots that are safety hazards, and robot waiters that add work for human waiters.
VC and Ai guru Kai-Fu Lee will debut his upcoming book AI Superpowers with a talk and AI panel held by Silicon Dragon