(Pitchbook) Venture capital fundraising in China is cooling off as investors weigh how to navigate the country’s new regulatory regime. One strategy that’s taking shape: VC firms are aligning themselves with Beijing’s strategic goals by planning big bets on climate-friendly industries.
VC investment in Chinese cleantech startups is rebounding, with nearly $8.7 billion invested across 211 deals in 2021, up from $5.6 billion last year.
The upward trend is poised to continue, as the China affiliates of international VC powerhouses like Lightspeed and Sequoia raise funds that will prioritize climate tech startups in the country.
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