SlideShare a Scribd company logo
1 of 16
The Opportunities and Challenges of a Foreign VC Investing in China  Venture TDF China Fund Managing Partner Tina Ju
VCs Classification in China ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
VC Investments in China
VC Investment in 1 st  Half 2004 ,[object Object],[object Object],[object Object],[object Object],[object Object]
Industry Distribution, 1 H2004 ,[object Object],Industry Number of Deals Percentage Number of Deals with Disclosed Investment Amount Disclosed Investment Amount (US$ million) Percentage IC 11 14% 10 124 28% Internet 10 13% 10 117 27% Telecommunications 17 21% 16 81 19% Services 5 6% 5 30 7% Software 2 3% 2 25 6% Traditional 11 14% 9 21 5% IT Service 3 4% 3 6 1% IT Others 1 1% 1 6 1% Biotech/Medicine 5 6% 4 5 1% New Materials 2 2.50% 2 5 1% Others 13 16% 11 18 4% Total 80 100% 73 438 100%
Comparison of 2000 & 2004 Confidential ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Special Arrangement for Projects Offshore Holding Offshore US Fund PRC Co. Invest On Shore (Licensing vehicle for ICP, โ€ฆ) Off Shore  WOFE
Foreign VCs are More Aggressive in 2004 ,[object Object],[object Object],[object Object],[object Object]
Improving Exit Environment ,[object Object],[object Object]
Some Successful Exit Cases ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],IPO ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],M&A
Exit Analysis in 1H 2004 ,[object Object]
Venture TDF China Fund ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Our Differentiation ,[object Object],[object Object],[object Object],[object Object],[object Object]
China Fundโ€™s Investment Calendar Potomac Board Seat Active Follower Observer % Fund Invested
Concluding Notes ,[object Object],[object Object],[object Object],[object Object],[object Object]
Contact Details Shanghai Office   Venture TDF Shanghai Co., Ltd Unit 2102 China Merchants Tower  161 Lujiazui East Road, Pudong Shanghai 200120, China Tel. : 86-21-5888 3185 Fax : 86-21-5840 0078

More Related Content

What's hot

Private Equity in Asia & China October 2005
Private Equity in Asia & China October 2005Private Equity in Asia & China October 2005
Private Equity in Asia & China October 2005
Dave Liu
ย 
Venture Capital Investing Maintains Steady Pace in Q3 2003
Venture Capital Investing Maintains Steady Pace in Q3 2003Venture Capital Investing Maintains Steady Pace in Q3 2003
Venture Capital Investing Maintains Steady Pace in Q3 2003
mensa25
ย 
Women_Alternative_Investments_Brochure_v14web
Women_Alternative_Investments_Brochure_v14webWomen_Alternative_Investments_Brochure_v14web
Women_Alternative_Investments_Brochure_v14web
Brian Clavin
ย 
Case study : Backing Australia's Ability
Case study :  Backing Australia's AbilityCase study :  Backing Australia's Ability
Case study : Backing Australia's Ability
Mohamed Seif
ย 

What's hot (20)

The New Era of Investor Relations
The New Era of Investor RelationsThe New Era of Investor Relations
The New Era of Investor Relations
ย 
Netherlands tech top business models - 18 mar 2021
Netherlands tech   top business models - 18 mar 2021Netherlands tech   top business models - 18 mar 2021
Netherlands tech top business models - 18 mar 2021
ย 
State of Fintech in East Africa
State of Fintech in East AfricaState of Fintech in East Africa
State of Fintech in East Africa
ย 
Private Equity in Asia & China October 2005
Private Equity in Asia & China October 2005Private Equity in Asia & China October 2005
Private Equity in Asia & China October 2005
ย 
150319 tech tourgrowth50
150319 tech tourgrowth50150319 tech tourgrowth50
150319 tech tourgrowth50
ย 
Digital Disruption in Wealth Management
Digital Disruption in Wealth Management Digital Disruption in Wealth Management
Digital Disruption in Wealth Management
ย 
Digital Disruption in Wealth Management - FinanceConnect Singapore
Digital Disruption in Wealth Management - FinanceConnect SingaporeDigital Disruption in Wealth Management - FinanceConnect Singapore
Digital Disruption in Wealth Management - FinanceConnect Singapore
ย 
Mercer Capital's Value Focus: FinTech Industry | First Quarter 2015
Mercer Capital's Value Focus: FinTech Industry | First Quarter 2015Mercer Capital's Value Focus: FinTech Industry | First Quarter 2015
Mercer Capital's Value Focus: FinTech Industry | First Quarter 2015
ย 
Cento Ventures Southeast Asia Tech Investments 2018
Cento Ventures Southeast Asia Tech Investments 2018Cento Ventures Southeast Asia Tech Investments 2018
Cento Ventures Southeast Asia Tech Investments 2018
ย 
Tracxn- Southeast Asia Tech - Top Business Models - Mar 2021
Tracxn- Southeast Asia Tech - Top Business Models - Mar 2021Tracxn- Southeast Asia Tech - Top Business Models - Mar 2021
Tracxn- Southeast Asia Tech - Top Business Models - Mar 2021
ย 
State Of European FinTech: Current Trends & Prediction 2017
State Of European FinTech: Current Trends & Prediction 2017State Of European FinTech: Current Trends & Prediction 2017
State Of European FinTech: Current Trends & Prediction 2017
ย 
Venture Capital Investing Maintains Steady Pace in Q3 2003
Venture Capital Investing Maintains Steady Pace in Q3 2003Venture Capital Investing Maintains Steady Pace in Q3 2003
Venture Capital Investing Maintains Steady Pace in Q3 2003
ย 
Tracxn - Geo - Russia Tech - July 2021
Tracxn - Geo - Russia Tech - July 2021Tracxn - Geo - Russia Tech - July 2021
Tracxn - Geo - Russia Tech - July 2021
ย 
Tracxn - Canada Tech - Top Business Models - Mar 2021
Tracxn - Canada Tech - Top Business Models - Mar 2021Tracxn - Canada Tech - Top Business Models - Mar 2021
Tracxn - Canada Tech - Top Business Models - Mar 2021
ย 
Sm2 assignment
Sm2 assignmentSm2 assignment
Sm2 assignment
ย 
Women_Alternative_Investments_Brochure_v14web
Women_Alternative_Investments_Brochure_v14webWomen_Alternative_Investments_Brochure_v14web
Women_Alternative_Investments_Brochure_v14web
ย 
Market Entry Workshop
Market Entry WorkshopMarket Entry Workshop
Market Entry Workshop
ย 
Diffusion 2019 Launch by CEO & Founder Jamie Burke and AvA Berlin
Diffusion 2019 Launch by CEO & Founder Jamie Burke and AvA BerlinDiffusion 2019 Launch by CEO & Founder Jamie Burke and AvA Berlin
Diffusion 2019 Launch by CEO & Founder Jamie Burke and AvA Berlin
ย 
Case study : Backing Australia's Ability
Case study :  Backing Australia's AbilityCase study :  Backing Australia's Ability
Case study : Backing Australia's Ability
ย 
FT Partners Research: Square Completes its IPO Raising $243 million
FT Partners Research: Square Completes its IPO Raising $243 millionFT Partners Research: Square Completes its IPO Raising $243 million
FT Partners Research: Square Completes its IPO Raising $243 million
ย 

Viewers also liked

Nutzung von Web2.0-Anwendungen fรผr die Weitergabe eigener Reiseinformationen
Nutzung von Web2.0-Anwendungen fรผr die Weitergabe eigener ReiseinformationenNutzung von Web2.0-Anwendungen fรผr die Weitergabe eigener Reiseinformationen
Nutzung von Web2.0-Anwendungen fรผr die Weitergabe eigener Reiseinformationen
mika-e-tour
ย 
Explorando ensino literatura_Ens Fundamental
Explorando ensino literatura_Ens FundamentalExplorando ensino literatura_Ens Fundamental
Explorando ensino literatura_Ens Fundamental
Kelly Arduino
ย 
Euroclima general presentation
Euroclima general presentationEuroclima general presentation
Euroclima general presentation
cmul
ย 
Chapter 2-writing-a-business-letter
Chapter 2-writing-a-business-letterChapter 2-writing-a-business-letter
Chapter 2-writing-a-business-letter
Hina80
ย 

Viewers also liked (20)

Estrategias com tarea 2
Estrategias com tarea 2Estrategias com tarea 2
Estrategias com tarea 2
ย 
Herramientas google y blog emprendedores
Herramientas google y blog emprendedoresHerramientas google y blog emprendedores
Herramientas google y blog emprendedores
ย 
Fel
FelFel
Fel
ย 
15 ideas sobre emails
15 ideas sobre emails15 ideas sobre emails
15 ideas sobre emails
ย 
P'ti mag - 29.04.16
P'ti mag - 29.04.16P'ti mag - 29.04.16
P'ti mag - 29.04.16
ย 
Nutzung von Web2.0-Anwendungen fรผr die Weitergabe eigener Reiseinformationen
Nutzung von Web2.0-Anwendungen fรผr die Weitergabe eigener ReiseinformationenNutzung von Web2.0-Anwendungen fรผr die Weitergabe eigener Reiseinformationen
Nutzung von Web2.0-Anwendungen fรผr die Weitergabe eigener Reiseinformationen
ย 
101ยบ PresentaciรณN Usfq Marketing Digital (Comp)
101ยบ PresentaciรณN Usfq Marketing Digital (Comp)101ยบ PresentaciรณN Usfq Marketing Digital (Comp)
101ยบ PresentaciรณN Usfq Marketing Digital (Comp)
ย 
Actualidad en materia retributiva: diseรฑo, fiscalidad y aspectos laborales
Actualidad en materia retributiva: diseรฑo, fiscalidad y aspectos laboralesActualidad en materia retributiva: diseรฑo, fiscalidad y aspectos laborales
Actualidad en materia retributiva: diseรฑo, fiscalidad y aspectos laborales
ย 
Explorando ensino literatura_Ens Fundamental
Explorando ensino literatura_Ens FundamentalExplorando ensino literatura_Ens Fundamental
Explorando ensino literatura_Ens Fundamental
ย 
Google global edu symposium summary external
Google global edu symposium   summary externalGoogle global edu symposium   summary external
Google global edu symposium summary external
ย 
Flyer comenus int_v3
Flyer comenus int_v3Flyer comenus int_v3
Flyer comenus int_v3
ย 
Camping Cala Llevadรณ (Tossa de Mar, Costa Brava)
Camping Cala Llevadรณ (Tossa de Mar, Costa Brava)Camping Cala Llevadรณ (Tossa de Mar, Costa Brava)
Camping Cala Llevadรณ (Tossa de Mar, Costa Brava)
ย 
Mi Ultimo Sistema De Gestiรณn 2008
Mi Ultimo Sistema De Gestiรณn 2008Mi Ultimo Sistema De Gestiรณn 2008
Mi Ultimo Sistema De Gestiรณn 2008
ย 
Product catalog KAHLES Helia CL | Optics Trade | 2005
Product catalog KAHLES Helia CL | Optics Trade | 2005Product catalog KAHLES Helia CL | Optics Trade | 2005
Product catalog KAHLES Helia CL | Optics Trade | 2005
ย 
Presentaciรณn Martรญn Escardรณ - eCommerce Day Montevideo 2016
Presentaciรณn Martรญn Escardรณ - eCommerce Day Montevideo 2016Presentaciรณn Martรญn Escardรณ - eCommerce Day Montevideo 2016
Presentaciรณn Martรญn Escardรณ - eCommerce Day Montevideo 2016
ย 
Euroclima general presentation
Euroclima general presentationEuroclima general presentation
Euroclima general presentation
ย 
Trabaja en la red inmobiliaria mariatomasa.com (mayo 2015)
Trabaja en la red inmobiliaria mariatomasa.com (mayo 2015)Trabaja en la red inmobiliaria mariatomasa.com (mayo 2015)
Trabaja en la red inmobiliaria mariatomasa.com (mayo 2015)
ย 
Lomce
LomceLomce
Lomce
ย 
Presenta tu proyecto
Presenta tu proyectoPresenta tu proyecto
Presenta tu proyecto
ย 
Chapter 2-writing-a-business-letter
Chapter 2-writing-a-business-letterChapter 2-writing-a-business-letter
Chapter 2-writing-a-business-letter
ย 

Similar to VCs in China

Fra Presentation Final
Fra Presentation FinalFra Presentation Final
Fra Presentation Final
Dave Liu
ย 
China Tech Investment Ecosystem - presentation @ BPI - 14 Nov 2016 - Bruno Be...
China Tech Investment Ecosystem - presentation @ BPI - 14 Nov 2016 - Bruno Be...China Tech Investment Ecosystem - presentation @ BPI - 14 Nov 2016 - Bruno Be...
China Tech Investment Ecosystem - presentation @ BPI - 14 Nov 2016 - Bruno Be...
Bruno Bensaid
ย 
Svc Wireless Final
Svc Wireless FinalSvc Wireless Final
Svc Wireless Final
Dave Liu
ย 
Vcr 2012 final
Vcr 2012 finalVcr 2012 final
Vcr 2012 final
Mila Rocha
ย 
Why It's Morning in Venture Capital
Why It's Morning in Venture CapitalWhy It's Morning in Venture Capital
Why It's Morning in Venture Capital
Mark Suster
ย 
Geeli all(2)
Geeli all(2)Geeli all(2)
Geeli all(2)
Apoorva
ย 

Similar to VCs in China (20)

Fra Presentation Final
Fra Presentation FinalFra Presentation Final
Fra Presentation Final
ย 
Capital Risk & IT, The Perfect Connection?
Capital Risk & IT, The Perfect Connection?Capital Risk & IT, The Perfect Connection?
Capital Risk & IT, The Perfect Connection?
ย 
F-Prime Capital: Market Perspective, 2018
F-Prime Capital: Market Perspective, 2018 F-Prime Capital: Market Perspective, 2018
F-Prime Capital: Market Perspective, 2018
ย 
CGI Group Inc. Analysis Report
CGI Group Inc. Analysis ReportCGI Group Inc. Analysis Report
CGI Group Inc. Analysis Report
ย 
Open U Talk from the Institute of Financial Technologists of Asia
Open U Talk from the Institute of Financial Technologists of AsiaOpen U Talk from the Institute of Financial Technologists of Asia
Open U Talk from the Institute of Financial Technologists of Asia
ย 
Uconn China Study Presentation on Chinese Outbound Investment
Uconn China Study Presentation on Chinese Outbound InvestmentUconn China Study Presentation on Chinese Outbound Investment
Uconn China Study Presentation on Chinese Outbound Investment
ย 
China Tech Investment Ecosystem - presentation @ BPI - 14 Nov 2016 - Bruno Be...
China Tech Investment Ecosystem - presentation @ BPI - 14 Nov 2016 - Bruno Be...China Tech Investment Ecosystem - presentation @ BPI - 14 Nov 2016 - Bruno Be...
China Tech Investment Ecosystem - presentation @ BPI - 14 Nov 2016 - Bruno Be...
ย 
Esm ppt 1
Esm ppt 1Esm ppt 1
Esm ppt 1
ย 
Svc Wireless Final
Svc Wireless FinalSvc Wireless Final
Svc Wireless Final
ย 
AVentures DealBook 2019
AVentures DealBook 2019AVentures DealBook 2019
AVentures DealBook 2019
ย 
Opportunities in China's Startup Ecosystem
Opportunities in China's Startup EcosystemOpportunities in China's Startup Ecosystem
Opportunities in China's Startup Ecosystem
ย 
Vcr 2012 final
Vcr 2012 finalVcr 2012 final
Vcr 2012 final
ย 
Opportunities in China's Startup Ecosystem
Opportunities in China's Startup EcosystemOpportunities in China's Startup Ecosystem
Opportunities in China's Startup Ecosystem
ย 
Why It's Morning in Venture Capital
Why It's Morning in Venture CapitalWhy It's Morning in Venture Capital
Why It's Morning in Venture Capital
ย 
Michigan Energy Forum - June 7, 2012 - Jeff Bocan
Michigan Energy Forum - June 7, 2012 -  Jeff Bocan Michigan Energy Forum - June 7, 2012 -  Jeff Bocan
Michigan Energy Forum - June 7, 2012 - Jeff Bocan
ย 
Hidden champion- Korea (Fintech Asia forum 2015)
Hidden champion- Korea (Fintech Asia forum 2015)Hidden champion- Korea (Fintech Asia forum 2015)
Hidden champion- Korea (Fintech Asia forum 2015)
ย 
Geeli all(2)
Geeli all(2)Geeli all(2)
Geeli all(2)
ย 
Fintech International Tech Tour Summit in Paris - May 2016
Fintech International Tech Tour Summit in Paris - May 2016Fintech International Tech Tour Summit in Paris - May 2016
Fintech International Tech Tour Summit in Paris - May 2016
ย 
Paris Internatioanl Fintech Summit in May 2016
Paris Internatioanl Fintech Summit in May 2016Paris Internatioanl Fintech Summit in May 2016
Paris Internatioanl Fintech Summit in May 2016
ย 
AVentures DealBook 2020
AVentures DealBook 2020AVentures DealBook 2020
AVentures DealBook 2020
ย 

More from Phi Jack

Zara's Fast-Fashion Edge
Zara's Fast-Fashion EdgeZara's Fast-Fashion Edge
Zara's Fast-Fashion Edge
Phi Jack
ย 
The vietnamese seafood sector - A value chain analysis
The vietnamese seafood sector - A value chain analysisThe vietnamese seafood sector - A value chain analysis
The vietnamese seafood sector - A value chain analysis
Phi Jack
ย 
Vietnam Retail Market Report, Nielsen
Vietnam Retail Market Report, NielsenVietnam Retail Market Report, Nielsen
Vietnam Retail Market Report, Nielsen
Phi Jack
ย 
ID.com's prospectus for IPO
ID.com's prospectus for IPOID.com's prospectus for IPO
ID.com's prospectus for IPO
Phi Jack
ย 
Color theory
Color theoryColor theory
Color theory
Phi Jack
ย 
China E-commerce Analytics [Credit Suisse]
China E-commerce Analytics [Credit Suisse]China E-commerce Analytics [Credit Suisse]
China E-commerce Analytics [Credit Suisse]
Phi Jack
ย 
How Businesses Fare with Daily Deals: A Multi-Site Analysis of Groupon, Livin...
How Businesses Fare with Daily Deals: A Multi-Site Analysis of Groupon, Livin...How Businesses Fare with Daily Deals: A Multi-Site Analysis of Groupon, Livin...
How Businesses Fare with Daily Deals: A Multi-Site Analysis of Groupon, Livin...
Phi Jack
ย 
User behavior
User behaviorUser behavior
User behavior
Phi Jack
ย 
Buoi Thuyet Trinh Philip Kotler
Buoi Thuyet Trinh Philip KotlerBuoi Thuyet Trinh Philip Kotler
Buoi Thuyet Trinh Philip Kotler
Phi Jack
ย 
Huong Dan Ap Dung ISO 9001
Huong Dan Ap Dung ISO 9001Huong Dan Ap Dung ISO 9001
Huong Dan Ap Dung ISO 9001
Phi Jack
ย 
FinalStyle Ms Excel
FinalStyle Ms ExcelFinalStyle Ms Excel
FinalStyle Ms Excel
Phi Jack
ย 
Nguoi Tieu Dung
Nguoi Tieu DungNguoi Tieu Dung
Nguoi Tieu Dung
Phi Jack
ย 
Google Story
Google StoryGoogle Story
Google Story
Phi Jack
ย 
e-Marketing
e-Marketinge-Marketing
e-Marketing
Phi Jack
ย 

More from Phi Jack (20)

Vietnam Retail Store Modern Trade Trend 2022.pdf
Vietnam Retail Store Modern Trade Trend 2022.pdfVietnam Retail Store Modern Trade Trend 2022.pdf
Vietnam Retail Store Modern Trade Trend 2022.pdf
ย 
K-Beauty E-catalog
K-Beauty E-catalogK-Beauty E-catalog
K-Beauty E-catalog
ย 
Market Research on Beauty Industry in Vietnam
Market Research on Beauty Industry in VietnamMarket Research on Beauty Industry in Vietnam
Market Research on Beauty Industry in Vietnam
ย 
Hร nh Vi Ngฦฐแปi Dรนng Internet Vietnam 2015 - Google
Hร nh Vi Ngฦฐแปi Dรนng Internet Vietnam 2015 - GoogleHร nh Vi Ngฦฐแปi Dรนng Internet Vietnam 2015 - Google
Hร nh Vi Ngฦฐแปi Dรนng Internet Vietnam 2015 - Google
ย 
Rocket Internet 2014 & Q1 2015 Results Report
Rocket Internet 2014 & Q1 2015 Results ReportRocket Internet 2014 & Q1 2015 Results Report
Rocket Internet 2014 & Q1 2015 Results Report
ย 
Hร nh vi mua sแบฏm Online cแปงa Phแปฅ nแปฏ Chรขu ร
Hร nh vi mua sแบฏm Online cแปงa Phแปฅ nแปฏ Chรขu รHร nh vi mua sแบฏm Online cแปงa Phแปฅ nแปฏ Chรขu ร
Hร nh vi mua sแบฏm Online cแปงa Phแปฅ nแปฏ Chรขu ร
ย 
Zara's Fast-Fashion Edge
Zara's Fast-Fashion EdgeZara's Fast-Fashion Edge
Zara's Fast-Fashion Edge
ย 
The vietnamese seafood sector - A value chain analysis
The vietnamese seafood sector - A value chain analysisThe vietnamese seafood sector - A value chain analysis
The vietnamese seafood sector - A value chain analysis
ย 
Vietnam Retail Market Report, Nielsen
Vietnam Retail Market Report, NielsenVietnam Retail Market Report, Nielsen
Vietnam Retail Market Report, Nielsen
ย 
ID.com's prospectus for IPO
ID.com's prospectus for IPOID.com's prospectus for IPO
ID.com's prospectus for IPO
ย 
Color theory
Color theoryColor theory
Color theory
ย 
China E-commerce Analytics [Credit Suisse]
China E-commerce Analytics [Credit Suisse]China E-commerce Analytics [Credit Suisse]
China E-commerce Analytics [Credit Suisse]
ย 
How Businesses Fare with Daily Deals: A Multi-Site Analysis of Groupon, Livin...
How Businesses Fare with Daily Deals: A Multi-Site Analysis of Groupon, Livin...How Businesses Fare with Daily Deals: A Multi-Site Analysis of Groupon, Livin...
How Businesses Fare with Daily Deals: A Multi-Site Analysis of Groupon, Livin...
ย 
User behavior
User behaviorUser behavior
User behavior
ย 
Buoi Thuyet Trinh Philip Kotler
Buoi Thuyet Trinh Philip KotlerBuoi Thuyet Trinh Philip Kotler
Buoi Thuyet Trinh Philip Kotler
ย 
Huong Dan Ap Dung ISO 9001
Huong Dan Ap Dung ISO 9001Huong Dan Ap Dung ISO 9001
Huong Dan Ap Dung ISO 9001
ย 
FinalStyle Ms Excel
FinalStyle Ms ExcelFinalStyle Ms Excel
FinalStyle Ms Excel
ย 
Nguoi Tieu Dung
Nguoi Tieu DungNguoi Tieu Dung
Nguoi Tieu Dung
ย 
Google Story
Google StoryGoogle Story
Google Story
ย 
e-Marketing
e-Marketinge-Marketing
e-Marketing
ย 

Recently uploaded

VIP Independent Call Girls in Taloja ๐ŸŒน 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Taloja ๐ŸŒน 9920725232 ( Call Me ) Mumbai Escorts ...VIP Independent Call Girls in Taloja ๐ŸŒน 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Taloja ๐ŸŒน 9920725232 ( Call Me ) Mumbai Escorts ...
dipikadinghjn ( Why You Choose Us? ) Escorts
ย 
VIP Independent Call Girls in Mira Bhayandar ๐ŸŒน 9920725232 ( Call Me ) Mumbai ...
VIP Independent Call Girls in Mira Bhayandar ๐ŸŒน 9920725232 ( Call Me ) Mumbai ...VIP Independent Call Girls in Mira Bhayandar ๐ŸŒน 9920725232 ( Call Me ) Mumbai ...
VIP Independent Call Girls in Mira Bhayandar ๐ŸŒน 9920725232 ( Call Me ) Mumbai ...
dipikadinghjn ( Why You Choose Us? ) Escorts
ย 
Call Girls Banaswadi Just Call ๐Ÿ‘— 7737669865 ๐Ÿ‘— Top Class Call Girl Service Ban...
Call Girls Banaswadi Just Call ๐Ÿ‘— 7737669865 ๐Ÿ‘— Top Class Call Girl Service Ban...Call Girls Banaswadi Just Call ๐Ÿ‘— 7737669865 ๐Ÿ‘— Top Class Call Girl Service Ban...
Call Girls Banaswadi Just Call ๐Ÿ‘— 7737669865 ๐Ÿ‘— Top Class Call Girl Service Ban...
amitlee9823
ย 
( Jasmin ) Top VIP Escorts Service Dindigul ๐Ÿ’ง 7737669865 ๐Ÿ’ง by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul ๐Ÿ’ง 7737669865 ๐Ÿ’ง by Dindigul Call G...( Jasmin ) Top VIP Escorts Service Dindigul ๐Ÿ’ง 7737669865 ๐Ÿ’ง by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul ๐Ÿ’ง 7737669865 ๐Ÿ’ง by Dindigul Call G...
dipikadinghjn ( Why You Choose Us? ) Escorts
ย 
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
From Luxury Escort : 9352852248 Make on-demand Arrangements Near yOU
ย 
Call Girls Service Pune โ‚น7.5k Pick Up & Drop With Cash Payment 9352852248 Cal...
Call Girls Service Pune โ‚น7.5k Pick Up & Drop With Cash Payment 9352852248 Cal...Call Girls Service Pune โ‚น7.5k Pick Up & Drop With Cash Payment 9352852248 Cal...
Call Girls Service Pune โ‚น7.5k Pick Up & Drop With Cash Payment 9352852248 Cal...
roshnidevijkn ( Why You Choose Us? ) Escorts
ย 
VIP Call Girl in Thane ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday With...
VIP Call Girl in Thane ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday With...VIP Call Girl in Thane ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday With...
VIP Call Girl in Thane ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday With...
dipikadinghjn ( Why You Choose Us? ) Escorts
ย 
VIP Call Girl in Mumbai ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday Wit...
VIP Call Girl in Mumbai ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday Wit...VIP Call Girl in Mumbai ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday Wit...
VIP Call Girl in Mumbai ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday Wit...
dipikadinghjn ( Why You Choose Us? ) Escorts
ย 

Recently uploaded (20)

VIP Independent Call Girls in Taloja ๐ŸŒน 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Taloja ๐ŸŒน 9920725232 ( Call Me ) Mumbai Escorts ...VIP Independent Call Girls in Taloja ๐ŸŒน 9920725232 ( Call Me ) Mumbai Escorts ...
VIP Independent Call Girls in Taloja ๐ŸŒน 9920725232 ( Call Me ) Mumbai Escorts ...
ย 
Top Rated Pune Call Girls Pashan โŸŸ 6297143586 โŸŸ Call Me For Genuine Sex Serv...
Top Rated  Pune Call Girls Pashan โŸŸ 6297143586 โŸŸ Call Me For Genuine Sex Serv...Top Rated  Pune Call Girls Pashan โŸŸ 6297143586 โŸŸ Call Me For Genuine Sex Serv...
Top Rated Pune Call Girls Pashan โŸŸ 6297143586 โŸŸ Call Me For Genuine Sex Serv...
ย 
TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...
TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...
TEST BANK For Corporate Finance, 13th Edition By Stephen Ross, Randolph Weste...
ย 
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...Booking open Available Pune Call Girls Talegaon Dabhade  6297143586 Call Hot ...
Booking open Available Pune Call Girls Talegaon Dabhade 6297143586 Call Hot ...
ย 
Webinar on E-Invoicing for Fintech Belgium
Webinar on E-Invoicing for Fintech BelgiumWebinar on E-Invoicing for Fintech Belgium
Webinar on E-Invoicing for Fintech Belgium
ย 
VIP Independent Call Girls in Mira Bhayandar ๐ŸŒน 9920725232 ( Call Me ) Mumbai ...
VIP Independent Call Girls in Mira Bhayandar ๐ŸŒน 9920725232 ( Call Me ) Mumbai ...VIP Independent Call Girls in Mira Bhayandar ๐ŸŒน 9920725232 ( Call Me ) Mumbai ...
VIP Independent Call Girls in Mira Bhayandar ๐ŸŒน 9920725232 ( Call Me ) Mumbai ...
ย 
Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...
Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...
Solution Manual for Principles of Corporate Finance 14th Edition by Richard B...
ย 
Call Girls Banaswadi Just Call ๐Ÿ‘— 7737669865 ๐Ÿ‘— Top Class Call Girl Service Ban...
Call Girls Banaswadi Just Call ๐Ÿ‘— 7737669865 ๐Ÿ‘— Top Class Call Girl Service Ban...Call Girls Banaswadi Just Call ๐Ÿ‘— 7737669865 ๐Ÿ‘— Top Class Call Girl Service Ban...
Call Girls Banaswadi Just Call ๐Ÿ‘— 7737669865 ๐Ÿ‘— Top Class Call Girl Service Ban...
ย 
Indore Real Estate Market Trends Report.pdf
Indore Real Estate Market Trends Report.pdfIndore Real Estate Market Trends Report.pdf
Indore Real Estate Market Trends Report.pdf
ย 
Mira Road Awesome 100% Independent Call Girls NUmber-9833754194-Dahisar Inter...
Mira Road Awesome 100% Independent Call Girls NUmber-9833754194-Dahisar Inter...Mira Road Awesome 100% Independent Call Girls NUmber-9833754194-Dahisar Inter...
Mira Road Awesome 100% Independent Call Girls NUmber-9833754194-Dahisar Inter...
ย 
( Jasmin ) Top VIP Escorts Service Dindigul ๐Ÿ’ง 7737669865 ๐Ÿ’ง by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul ๐Ÿ’ง 7737669865 ๐Ÿ’ง by Dindigul Call G...( Jasmin ) Top VIP Escorts Service Dindigul ๐Ÿ’ง 7737669865 ๐Ÿ’ง by Dindigul Call G...
( Jasmin ) Top VIP Escorts Service Dindigul ๐Ÿ’ง 7737669865 ๐Ÿ’ง by Dindigul Call G...
ย 
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
From Luxury Escort Service Kamathipura : 9352852248 Make on-demand Arrangemen...
ย 
Booking open Available Pune Call Girls Wadgaon Sheri 6297143586 Call Hot Ind...
Booking open Available Pune Call Girls Wadgaon Sheri  6297143586 Call Hot Ind...Booking open Available Pune Call Girls Wadgaon Sheri  6297143586 Call Hot Ind...
Booking open Available Pune Call Girls Wadgaon Sheri 6297143586 Call Hot Ind...
ย 
Call Girls Service Pune โ‚น7.5k Pick Up & Drop With Cash Payment 9352852248 Cal...
Call Girls Service Pune โ‚น7.5k Pick Up & Drop With Cash Payment 9352852248 Cal...Call Girls Service Pune โ‚น7.5k Pick Up & Drop With Cash Payment 9352852248 Cal...
Call Girls Service Pune โ‚น7.5k Pick Up & Drop With Cash Payment 9352852248 Cal...
ย 
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...
Kharghar Blowjob Housewife Call Girls NUmber-9833754194-CBD Belapur Internati...
ย 
VIP Call Girl in Thane ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday With...
VIP Call Girl in Thane ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday With...VIP Call Girl in Thane ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday With...
VIP Call Girl in Thane ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday With...
ย 
VIP Call Girl in Mumbai ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday Wit...
VIP Call Girl in Mumbai ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday Wit...VIP Call Girl in Mumbai ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday Wit...
VIP Call Girl in Mumbai ๐Ÿ’ง 9920725232 ( Call Me ) Get A New Crush Everyday Wit...
ย 
Top Rated Pune Call Girls Viman Nagar โŸŸ 6297143586 โŸŸ Call Me For Genuine Sex...
Top Rated  Pune Call Girls Viman Nagar โŸŸ 6297143586 โŸŸ Call Me For Genuine Sex...Top Rated  Pune Call Girls Viman Nagar โŸŸ 6297143586 โŸŸ Call Me For Genuine Sex...
Top Rated Pune Call Girls Viman Nagar โŸŸ 6297143586 โŸŸ Call Me For Genuine Sex...
ย 
Call Girls in New Friends Colony Delhi ๐Ÿ’ฏ Call Us ๐Ÿ”9205541914 ๐Ÿ”( Delhi) Escort...
Call Girls in New Friends Colony Delhi ๐Ÿ’ฏ Call Us ๐Ÿ”9205541914 ๐Ÿ”( Delhi) Escort...Call Girls in New Friends Colony Delhi ๐Ÿ’ฏ Call Us ๐Ÿ”9205541914 ๐Ÿ”( Delhi) Escort...
Call Girls in New Friends Colony Delhi ๐Ÿ’ฏ Call Us ๐Ÿ”9205541914 ๐Ÿ”( Delhi) Escort...
ย 
(Vedika) Low Rate Call Girls in Pune Call Now 8250077686 Pune Escorts 24x7
(Vedika) Low Rate Call Girls in Pune Call Now 8250077686 Pune Escorts 24x7(Vedika) Low Rate Call Girls in Pune Call Now 8250077686 Pune Escorts 24x7
(Vedika) Low Rate Call Girls in Pune Call Now 8250077686 Pune Escorts 24x7
ย 

VCs in China

  • 1. The Opportunities and Challenges of a Foreign VC Investing in China Venture TDF China Fund Managing Partner Tina Ju
  • 2.
  • 4.
  • 5.
  • 6.
  • 7. Special Arrangement for Projects Offshore Holding Offshore US Fund PRC Co. Invest On Shore (Licensing vehicle for ICP, โ€ฆ) Off Shore WOFE
  • 8.
  • 9.
  • 10.
  • 11.
  • 12.
  • 13.
  • 14. China Fundโ€™s Investment Calendar Potomac Board Seat Active Follower Observer % Fund Invested
  • 15.
  • 16. Contact Details Shanghai Office Venture TDF Shanghai Co., Ltd Unit 2102 China Merchants Tower 161 Lujiazui East Road, Pudong Shanghai 200120, China Tel. : 86-21-5888 3185 Fax : 86-21-5840 0078