In January last year, a group of Indian venture capitalists flew down to the Bay Area for what was a routine trip. At a closed-door dinner in Palo Alto, one Indian venture capital (VC) investor got chatting with “Captain” Tao Li. If you haven’t heard of him, Li is the man behind China’s fastest unicorn APUS Group. Legend has it that APUS Group’s valuation hit $1 billion within four months of Li starting the company. Some bit of this legend is true. APUS Group was founded in June 2014. It entered The Wall Street Journal’s Billion Dollar Startup club in August 2015.
The Faceless Men: Chinese funds in India
Quite a few Chinese funds want to grab the early stage investment opportunity in India. For now, only some have made progress
Since 2015, 37 Chinese investors put their money into Indian startups
Of them, Fosun and Shunwei Capital are the two corporate VCs actively investing in Indian startups
For Chinese funds, decision-making is one of the problem areas. With the exception of Fosun, which has a local team, no decisions are made in India
Perception about Chinese money among Indian founders has changed: from being seen as easy money a few years ago to serious business today