The Big One: Here Are the Chinese VC Firms Investing in Boston Startups Right Now
Galen Moore - Editor-In-Chief 08/14/15 @11:22am in Tech
There are at least 3 Chinese VC firms active in Boston. We talked to 2 of them.
Haiyin Capital's Yuquan Wang is bringing some of it and yes, he is interested in the hard stuff. Haiyin has a $50 million fund, its third. It's out raising a fourth, similar in size. All for investment in robotics, consumer devices and hardware. Deals so far in Boston include 1366 (cleantech), Terrafugia (flying cars) and WiTricity (wireless charging). Wang told me he's not interested in Internet companies and he's more interested in Boston and other, smaller markets than he is in Silicon Valley (Pittsburgh, Madison, Seattle--anything near a university).
"In China if you want to show people how trendy you are you say I go to Silicon Valley," Wang said. "Lots of Chinese go to Silicon Valley like a pilgrim and they come back and they talk about Silicon Valley like a show."
Besides, Wang said, Valley companies spend too much time at networking events. "I believe there is a new wave of startups in the US, is entrepreneurs bringing technology out of universities," he said. "They’re licensing tech from universities and they make products based on that."
Original link: http://bostinno.streetwise.co/2015/08/14/chinese-vc-in-us-haiyin-capital-trustbridge-morningside/
US-China Hi-Tech Summit, Boston 2015
Thanks for the implementation of Bayh-Dole Act in year 1980, startups gradually became the leading force of converting research results from universities and other research institutes into hi-tech products on the market. But there’s still one bottleneck for these startups’ growth: When startups are small and only at the R&D stage, their valuation is small and the big capital they need to get to the next level can’t be raised. But they often need a big investment to reach that large manufacturing scale and to reach a big global market, which will eventually lead to a much bigger valuation.
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In hi-tech industry, US and China are naturally complementary, cooperating with China will accelerate your success. US-China Hi-tech Summit opens a door for your China cooperation. Please join us in Boston on October 7th.
Time: 9:00am－12:00pm, October 7th, 2015
Venue: Boston Marriott Burlington, One Burlington Mall Road, Burlington, MA 01803
Organizer: Haiyin Capital
Co-organizer: Boston Bilingual Media & Publishing Inc.
9:00am-9:05am: Welcome address of the representative of Massachusetts Government
9:05am-9:10am: Opening remark of Mr. Ming Yi, Deputy Director of Guangzhou Commission of Industry and Information Technology
9:10am-9:25am: Keynote speech of Mr. Min Tang, Advisor to State Council of China, Famous Economist
9:25am-9:40am: Speech of Mrs. Xiaolei Zuo, Famous Economist
9:40am-10:00am: Speech of Mr. Carmichael Roberts, North Bridge Partner
10:00am-10:20am: Speech of Prof. Zhaofeng Xue, State Development School, Peking University, China
10:20am-10:40am: Tea Break
10:40am-10:50am: Speech of Ben Schlatka, Cofounder MC10 Inc.
10:50am-11: 05am: Speech of Mr. Frank Van Mierlo, CEO, 1366 Technologies Inc.
11:05am-11:20am: Speech of Carl Dietrich, CEO, Terrafugia Inc.
11:20am-11:40am: Speech of Alex Gruzen, CEO, WiTricity Corporation.
11:40am-11:55am: Speech of Mr. Yuquan Wang, Founding Partner, Haiyin Capital
11:55am-12:00pm: Closing Remark of Mr. David Li, Boston Bilingual Media&publishing Inc.
Xin Ma: email@example.com, +1(617) 992-6322
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For Alex Gruzen, CEO of wireless charging pioneer WiTricity, working with a tech-focused venture capital firm in China seemed a natural fit. Gruzen knew China well from his time at Compaq, Hewlett-Packard, and then Dell, where he led the company’s global notebook business. Since joining Boston-based WiTricity, Gruzen’s priorities included getting the tech right, growing the US customer base, and then breaking out in China, where the automotive and consumer electronics industries – the company’s primary targets for licensing and embedding its technology – have seen meteoric growth.
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