Photographer: Wei Leng Tay / Bloomberg
Photographer: Wei Leng Tay / Bloomberg
Facebook Inc. Eduardo Saverin’s B Capital Group, co-founder of the company, could allocate 40% of its $ 1.9 billion global fund to China when it begins investing in China, the company’s new manager said.
“We are considering launching a Chinese fund later this year to address Chinese investment,” Daisy Kai said in an interview with Bloomberg TV on Monday. She added that the country could account for about one-third to 40% of B Capital’s World Fund.
Currently, the United States accounts for more than half of B Capital’s global investment, with South Asia and Southeast Asia, Latin America and Europe accounting for the rest.
Saverin venture company enters China with former SoftBank partner
B Capital hires Kai, a former SoftBank Vision Fund partner, to initially run a team of about 10 investment professionals from Hong Kong, serving businesses such as healthcare, financial services and transportation in China. Focused on tech startups. As a general partner of B Capital, founded by Saverin in 2015 with former Bain Capital executive Rajgangry, she is tasked with helping young venture houses expand their global footprint.
According to Kai, B Capital has recently invested in the Xingyun Group to help international brands expand their e-commerce business in China. She added that she is also considering supporting a major auto parts retail chain without naming the company.
“We believe China is as big an opportunity in the global technology market as the United States,” Ganguly told Bloomberg News last week. “The economy is vast, but technological innovation is still under-invested compared to the industrial sector,” Saverin added, betting on startups servicing Chinese companies.
— With the support of Anand Menon
Before coming here, it’s in the Bloomberg terminal.
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