Deng Feng, founding partner of Northern Light Venture Capital, confers with entrepreneurs working with InnoSpring. [Photo/China Daily]
These financiers – Chinese-born entrepreneurs who studied or made their fortune in California‘s technology mecca or were backed by China‘s government or technology and science parks – are part of renewed VC interest in the region.
China‘s still-growing economy, the central government‘s thirst for technology and incentive programs such as the 1,000 Elite Program of subsidies of up to 1 million yuan ($157,000) each have combined to attract talent and companies across the Pacific.
Venture capitalists with a Chinese background invested in 28 US companies last year, double the number in 2009, according to data from Dow Jones & Co.
In Silicon Valley, Chinese venture capitalists have partnered with US counterparts to compete against established players in the area of tech startup incubation.
