VC in China is recovering

VC funds in China are raising money more easily this year than last year. Guanghe Ventures recently closed one of the largest fundraises this year. Its sixth early-stage USD fund raised $460 million, and its third RMB fund raised 2 billion RMB, bringing the total to over $700 million USD. At the same time, some investors are leaving large VC firms to start their own funds. Many newly raised RMB funds are mainly backed by government capital. This will likely make it easier for startups in China to raise money over the next few years.