VC Funds Flee China, Head For Southeast Asia, India – Nikkei

Curbs on personal foreign travel have long applied to senior state officials and state executives with access to confidential information, but these limits now appear to apply to millions of civil servants, and state-enterprise workers. Reuters file image.

China’s tough crackdown on large tech platforms and drastic ‘zero-Covid’ policy measures have led to the flight of venture capital funds to Southeast Asia and India, Nikkei Asia reported, citing data from research firm Preqin.

VC funds focused on Southeast Asia and India have raised $3.1 billion this year against $3.5 billion the whole of last year, the report said, adding that China-focused VC funds raised just $2.1 billion against the $27.2 billion they raised in 2021.

Read the full report: Nikkei Asia.

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.