Deals
China Government Is Bankrolling the Boom in Startup Fundraising
- Sovereign wealth fund invests in Alipay owner's funding round
- Local government venture funds raised almost $340 billion
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Venture capital investment in China’s technology sector is becoming a pastime for the national team.
State-backed funds and enterprises are championing some of the biggest private investment rounds, tapping into China’s buoyant Internet sector for better returns. That includes backing the record $4.5 billion raised by Alibaba Group Holding Ltd.’s finance affiliate on Tuesday.