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Foreign venture capital institutions keep hopes up despite softness of China concept stocks (2)


09:35, November 01, 2011

Another foreign venture capital institution, GGV Capital, has expanded its yuan fund scale from 300 million yuan to 1 billion yuan, said Zhuo Fumin, a partner with the company.

"There are plenty of investment opportunities in China, as the country is undergoing a major financial transformation," said Zhuo.

ICAN Capital has shown interest in the mining, green energy and health sectors in particular, Kang said.

"We are going to launch two more investment projects focusing on mining and consumption," said Kang. "Since the Chinese green energy market has promising prospects, our company will consider increasing investment in the area," she said.

Venture capital institutions are likely to invest money under poor market conditions so that they can make more profits when the market improves, said Tu Hongchuan, managing director of Highland Capital.

The rising financing needs of enterprises amid global economic uncertainties and the decline of investment costs in the Chinese market have created tremendous investment opportunities for foreign venture capital institutions, Tu said.

Crocker Coulson, president of CCG Investor Relations and Strategic Communications, said that the gloomy global economy is partially to blame for the decline of China concept stocks.

Observers believe that as long as related economic indicators see positive performance during several consecutive weeks, will the pipeline for Chinese companies preparing for IPOs in the U.S. become stronger.

"At least 50 companies are prepping for U.S. IPOs and about a dozen or so have already started the U.S. Securities and Exchange Commission (SEC) registration process," he said.

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