The Chinese investor in this case was Haiyin Capital, a Beijing-based venture firm deploying its third fund with a new cross-border focus. Yuquan Wang, Haiyin’s founding partner, had experience partnering with American firms; early on in his career as a consultant for US consulting firm Frost & Sullivan, he helped China Mobile grow to become by market cap the largest mobile telecom company in the world. With a decade of venture capital experience, Wang had a profound appreciation for the potential of untapped synergies in the Chinese and US tech worlds.
“The next Steve Jobs won’t come from China,” Wang noted, referring to Apple’s former CEO. “But he’ll need China if he expects to build a global company. Our idea is to find those companies in the US and help them use China to achieve explosive growth.”
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