Hong Kong Is Gaining As Alternative To The U.S. For China Tech Listings, Top VC Says

The Hong Kong Stock Exchange has done well last year in attracting Chinese technology IPOs and secondary listings from companies like short video platform Kuaishou and online gaming giant NetEase. Persistent geopolitical tensions between the US and China are likely to drive more mainland tech companies to relatively ...

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The Hong Kong Stock Exchange has done well in the past year at attracting China technology IPOs and secondary listings from the likes of short-video platform Kuaishou and online gaming giant NetEase. Continuing geopolitical tension between the U.S. and China is likely to spur more mainland Chinese technology firms to list in Hong Kong relative to the the U.S. in the future, a top Asia-based venture capitalist said in an interview this week.


“I think there will be a bigger role for Hong Kong to play,” said Jixun Foo, managing partner of global venture capital investment firm GGV Capital. Foo ranked No. 56 on the 2021 Forbes Midas List and was one of four executives from the firm to make the list, along with Hans Tung (No. 3), Jenny Lee (No. 33) and Glenn Solomon (No. 79).   

Foo, 53, has seen many changes in China and its capital markets since he entered the investment business more than two decades ago following an early research career at Hewlett Packard. He went on to become an investment executive at the government-run National Science and Technology Board of Singapore.  Foo's first non-government investing job was at Draper Fisher Jurvetson ePlanet Ventures, where China search engine Baidu was one of his early winning picks.  He joined GGV in 2006 after crossing paths with its founder Thomas Ng several years earlier; today, the company has $9.2 billion under management.

 “One thing I've learned as a VC is that change is a constant,” Shanghai-based Foo said. “Obviously we are in a new world order right now where geopolitical tension is kind of clouding a lot of the developments and how we think about investments and exits, et cetera.”     

“I also believe that where there ...

Read original at Forbes » Business

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