Sequoia, Tencent and IDG are the top investors in Chinese unicorns, says last weeks Hurun report on 202 unicorns, start-ups valued at more than US$1 billion, in China as of the first quarter of 2019. Shanghai’s new tech board would be an attractive listing option for Chinese unicorns, said Rupert Hoogewerf, founder and chief researcher of Hurun at the South China Morning Post.
The South China Morning Post:
The Hurun report lists 202 unicorns, start-ups valued at more than US$1 billion, in China as of the first quarter of 2019. Sequoia China has invested in 53 of them, Tencent has put money into 31 and IDG has invested in 25.
“China has the largest number of unicorns in the world,” said Rupert Hoogewerf, chairman and chief researcher at Hurun.
More than 70 per cent, or 146, were in sectors such as internet services, e-commerce, internet finance, health care, culture and entertainment, artificial intelligence, and logistics, according to the report. The 202 unicorns have a combined valuation of more than 5 trillion yuan (US$732 billion)…
The Hurun report found that Beijing was home to 82 unicorns, 41 per cent of the total in China, followed by Shanghai with 45, Hangzhou with 19 and Shenzhen with 16. Hangzhou is the headquarters of e-commerce giant Alibaba Group, the parent company of the South China Morning Post.
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