Leveraged buyouts, growth capital, angel investments, and seed funding—these private transactions take place, largely out of the public’s eye, not only in Connecticut or Silicon Valley, but also in Beijing, Shenzhen, and Shanghai.
In 2016, China’s private equity (PE) and venture capital (VC) firms raised over $70 billion, more than 20% of total such funding globally. At the same time, these firms also deployed capital to the tune of $223 billion, accounting for more than 70% of global PE/VC investments.
As late comers, these Chinese firms have rapidly grown into formidable financiers. Most Chinese PE firms are particularly interested in products and services that can be commercialized and scaled up quickly in China. They tend to invest in areas that align with China’s shift to a more consumer-driven economy. Meanwhile, Chinese VCs have been active players globally, particularly in Silicon Valley. They have focused on areas such as artificial intelligence, Internet of Things, and electric vehicles.
Horizons Ventures Ltd. is a Hong Kong-based venture capital firm. Founded in 2007, it specializes in early- and mid-stage investments in the technology, media, and telecom sector.
In August 2012, Horizons Ventures Ltd., along with KPCB, co-led a $12 million Series C investment in Affectiva, the global leader in emotion measurement technologies. As part of the financing, Frank Meehan at Horizons Ventures will join Affectiva’s board of directors and Mary Meeker, a partner at KPCB, will join as an Affectiva board observer. In April 2015, Horizons Ventures Ltd. led a $145 million investment in Oscar, a New York-based health insurance startup.
In December 2014, Horizons Ventures Ltd., along with Khosla Ventures, co-led a $90 million Series C investment in Hampton Creek, a supplier of cookies and other food products to Walmart, Costco, and others. The investment will be used to expand Hampton Creek’s iline of foods made from plant-based ingredients.