Technology
In my country, PRC-connected venture capital invests in technology start-ups.
49/ 81
Affected Countries
Country
Score
Taiwan
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
The Chinese venture capital was included in the third wave of opening up for Chinese investment in service industry in 2010. The Taiwanese government doesn't have clear statistics on the Chinese venture capitals investing in Taiwan. Here are a few cases: Ordine Capital, which is a Chinese venture capital founded by Taiwanese in China, has invested in Taiwan User-Friendly Sensor and Tech and Snapask. Alibaba Entrereneurs Fund, which is under Alibaba Group, has specifically undergoing investment plans on Taiwanese and Hong Kong startups. 38 of Taiwanese startups were invested.
- https://tw.news.yahoo.com/第三波陸資開放-納入創投-213000073.html
- https://www.ondinecap.com
- https://www.ent-fund.org/tc/portfolio/tw
Answered by Lee Penghsuan, and has been reviewed by Pellaeon Lin
Explore Taiwan >Indonesia
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Indonesia’s tech boom have attracted Chinese venture capital investors to seek investment in Indonesia, especially considering that Indonesia already boast the largest number of billion-dollar start-ups in southeast Asia
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Indonesia >South Africa
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
- https://www.iol.co.za/technology/software-and-internet/africas-tech-startups-ecosystem-fastest-growing-with-rising-investments-d5ddc392-a4e8-524e-ba60-04fb8d07d905
- https://www.scmp.com/news/china/diplomacy/article/3146678/chinese-investors-are-again-pouring-millions-africas-fintech
Answered by Amanda Strydom, and has been reviewed by Chris Roper and Joyce Lin
Explore South Africa >Vietnam
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
PRC-connected venture capital investment directly: see first four links Indirectly: Tencent owns 20% stake in SEA Group, which owns Shopee, the largest e-commerce platform in Vietnam; Alibaba is a major investor in Lazada, the second largest e-commerce platform in Vietnam. See last three links.
- https://vietnamfinance.vn/duong-vao-vng-cua-tencent-trung-quoc-20170628172259165.htm
- https://chanhtuoi.com/zalo-la-cua-nuoc-nao-zalo-co-phai-cua-trung-quoc-p2719.html
- https://www.brandsvietnam.com/14666-Nguoi-khong-lo-bi-an-dung-sau-cac-thuong-vu-dau-tu-vao-thuong-mai-dien-tu-Viet-Nam
- https://vneconomy.vn/vng-cong-bo-danh-tinh-8-co-dong-ngoai.htm
- https://vir.com.vn/shopee-pulling-ahead-in-e-commerce-blitz-84027.html
- https://en.pingwest.com/a/4088
- https://techwireasia.com/2021/02/alibaba-and-shopee-heading-for-e-commerce-faceoff-in-vietnam/
Answered by Alexander Vuving, and has been reviewed by PSA Team
Explore Vietnam >United States
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Also sourced to proprietary data.
- https://www.wsj.com/articles/chinese-investors-u-s-tech-entrepreneurs-continue-to-make-deals-11572275105
- https://www.vox.com/recode/2019/5/1/18511540/silicon-valley-foreign-money-china-saudi-arabia-cfius-firrma-geopolitics-venture-capital
- https://www.npr.org/2018/10/07/654339389/china-makes-a-big-play-in-silicon-valley
- https://www.ft.com/content/745abeca-561d-484d-acd9-ad1caedf9e9e
Answered by 1 anonymous expert, and has been reviewed by PSA Team
Explore United States >Canada
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
See below links.
- https://marsdd.com/news/canadian-startups-one-asias-top-choices-capital-investment/
- https://www.scmp.com/business/article/2130409/canadas-tech-firms-drawing-increasing-interest-chinese-venture-capital
Answered by 1 anonymous expert, and has been reviewed by PSA Team
Explore Canada >Philippines
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
- https://businessmirror.com.ph/2021/02/28/phls-chinas-st-agencies-launch-8-joint-rd-projects/
- https://business.inquirer.net/313538/china-emerges-as-phs-most-important-source-of-investments
- https://asiasociety.org/sites/default/files/2020-09/Weaponizing%20the%20Belt%20and%20Road%20Initiative_0.pdf
Supplementary Notes
PRC is one of the TOP foreign investors in the country and one their focus is the technology sector. There are many projects in partnership with PRC and Philippines through Department of Science and Technology (DOST) and China’s Ministry of Science and Technology (MOST) Joint Research Program (JRP) which covers health, agriculture and renewable energy.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Philippines >Germany
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
This is a fast-growing area in Germany, due to the absence of domestic financing including (especially) for high-tech startups. China is extremely interested and active.
Answered by Didi Kirsten Tatlow, and has been reviewed by another 1 anonymous expert.
Explore Germany >United Kingdom
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Previously, the UK actively sought PRC investment for its emerging technology companies, as well as in other sectors. In 2015, the UK joined the Asian Infrastructure Investment Bank, and sought PRC investment in the manufacturing, nuclear energy and telecommunications sectors. By 2017, the UK received almost 60 percent of PRC foreign direct investment in the EU. Notably, in 2021 Tencent took a stake in Britain’s neobank Monzo. However, more recently the UK government has taken legislative action to limit PRC investment in the UK technology sector, in particular targeting PRC state-backed investment. Despite this, Tencent recently made a number of investments and acquisitions in the UK, including in a nuclear fusion technology company, a start-up focussed on the genomic study of rare diseases, and an open banking start-up.
- https://qz.com/2005972/what-the-uk-can-teach-the-world-about-engaging-with-china/
- https://rhg.com/wp-content/uploads/2020/04/MERICS-Rhodium-Group_COFDI-Update-2020-2.pdf
- https://www.reuters.com/markets/europe/chinas-tencent-builds-stake-uk-digital-bank-monzo-2021-12-31/
- https://beijingtobritain.substack.com/p/ukraine-and-taiwan-johnson-on-weibo?s=r
Answered by Hannah Bailey, and has been reviewed by Martin Thorley
Explore United Kingdom >Sweden
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Answered by 2 anonymous experts, and has been reviewed by Richard Turcsányi
Explore Sweden >Pakistan
Yes
Answer ( 4 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Pakistan >Singapore
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
In recent years, PRC-based venture capital is taking on an increasingly visible role in Singapore. They invest in many areas, including technology.
- https://www.rikvin.com/blog/top-22-venture-capital-firms-and-angel-investors-in-singapore/
- https://www.drwealth.com/venture-capital-singapore/
- https://www.techinasia.com/directory-of-early-stage-venture-capital-seed-funds-and-angel-investors-for-startups-in-singapore
- https://www.questventures.com
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Singapore >Kazakhstan
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Kazakhstan and China have opened up an international technology park for IT start-ups. Link
Answered by Tatiana Sedova, and has been reviewed by Ani Kintsurashvili
Explore Kazakhstan >Ethiopia
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Answered by Jean Githae, and has been reviewed by Tolera Gemta
Explore Ethiopia >Kenya
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
- https://technode.com/2019/11/12/chinese-investors-lead-series-a-in-kenyan-logistics-startup-lori-systems/
- https://techpoint.africa/2020/08/24/how-future-hub-invests/
Answered by Mary Mutisya, and has been reviewed by Allan Cheboi
Explore Kenya >Nigeria
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Answered by Eromosele John Aitokhuehi, and has been reviewed by Lekan Otufodunrin
Explore Nigeria >Brazil
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
In 2017, DiDi Chuxing, the company that owns the largest transport app in China, invested in 99 (Taxi). In October 2018, Tecent invested US$ 180 million in Brazilian fintech NuBank. These are two big investments confirmed in Brazil.
- https://www.reuters.com/article/us-tencent-holdings-nubank-m-a-idUKKCN1MI20L
- https://www.investe.sp.gov.br/noticia/didi-chuxing-da-china-investe-no-aplicativo-de-taxis-99/
Answered by 1 anonymous expert, and has been reviewed by another 2 anonymous experts.
Explore Brazil >Argentina
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
- https://noticias.frecuenciaonline.com/2018/06/13/empresa-china-invierte-en-startup-de-tecnologia/
- https://eleconomista.com.ar/2019-11-uala-recibe-us-150-millones-en-ronda-de-inversion-liderada-por-tencent-y-softbank/
Answered by 1 anonymous expert, and has been reviewed by another 2 anonymous experts.
Explore Argentina >Mexico
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
- https://transferencia.tec.mx/2021/02/02/quieres-llevar-tu-startup-a-china/
- https://marketing4ecommerce.mx/las-startups-chinas-apuestan-latinoamerica-la-tierra-la-oportunidad/
Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.
Explore Mexico >Belgium
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
- https://www.lecho.be/economie-politique/europe/economie/l-ere-des-investissements-chinois-massifs-est-terminee-en-europe/10383374.html
- https://www.crunchbase.com/hub/belgium-venture-capital-investors
Answered by 1 anonymous expert, and has been reviewed by Alfred Gerstl
Explore Belgium >Finland
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Tencent made one very large investment in Games Giant Supercell (84% acquired from SoftBank) and more recently fintech app Enfuce as well as earlier on in Finnish sportswear Amer with Chinese sportswear giant Anta
Answered by 2 anonymous experts, and has been reviewed by Richard Turcsányi
Explore Finland >Greece
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Supplementary Notes
There are few other reports of PRC-connected venture capital investing in tech startups in Greece.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Greece >Ecuador
Yes
Answer ( 3 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Supplementary Notes
Didi es la empresa emergente estrella reportada, no se ha registrado otro operando en Ecuador.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Ecuador >Chile
Yes
Answer ( 2 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Startups in Chile often look for local capital investors. Moreover, international startups programs try to attract funds from multiple sources. It is more common for Chinese tech startups or companies to locate in Chile, such as Didi or Mobike. The second of these went bankrupt due to the pandemic in 2020.
- https://web.archive.org/web/20210508214114/https://www.startupchile.org/asian-partners/
- https://www.df.cl/noticias/df-lab/innovacion-y-startups/la-nueva-estrategia-de-la-aceleradora-magical-startups-levantar-capital/2020-05-08/105601.html
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Chile >South Korea
Yes
Answer ( 2 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
PRC-connected VC, such as Legend Capital, Sequoia Capital China, IDG Capital China have invested in a number of Korean startups. That said, South Korean startups are not as popular with Chinese VCs as are American or Israeli startups due to its smaller market size. Companies such as Tencent (technically not a VC), however, have actively invested in Korean startup companies.
Answered by 1 anonymous expert, and has been reviewed by PSA Team
Explore South Korea >Thailand
Yes
Answer ( 2 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
- https://tracxn.com/d/investor-lists/Venture-Capital-Funds-in-Thailand
- https://thediplomat.com/2021/01/the-global-reach-of-chinas-venture-capital/
- https://www.nationthailand.com/business/30369764
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Thailand >India
Yes
Answer ( 2 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Although PRC-connected investments in technology startups in India is huge, the geopolitical crisis in 2020 left it insignificant for the investments to make any huge impact.
- https://restofworld.org/2021/chinese-investors-lose-out-in-indian-tech-ipo-boom/
- https://qz.com/india/2090203/do-indias-startups-need-chinese-vc-funding/
- https://scroll.in/article/1010783/china-has-invested-a-lot-less-in-indian-startups-than-you-thought-it-did
- https://www.orfonline.org/expert-speak/chinese-investments-in-indian-startups-trends-and-controversies/
Answered by 1 anonymous expert, and has been reviewed by Tenzin Dalha
Explore India >France
Yes
Answer ( 2 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
- https://www.bfmtv.com/economie/entreprises/services/la-france-et-la-chine-creent-un-fonds-d-aide-aux-start-up_AN-201507010161.html
- https://www.cathaycapital.com/fr/press-room/cathay-capital-poursuit-son-engagement-aupres-des-pme-avec-un-nouveau-fonds-franco-chinois/
- https://www.lefigaro.fr/flash-eco/un-nouveau-fonds-d-un-milliard-d-euros-pour-l-entrepreneur-franco-chinois-mingpo-cai-20220712
Answered by Filip Noubel, and has been reviewed by another 1 anonymous expert.
Explore France >Italy
Yes
Answer ( 2 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
- https://www.wired.it/economia/start-up/2019/05/28/shopping-tax-free-stamp-cina/
- https://www.wired.it/economia/start-up/2021/09/17/startup-cina-finanziamenti-europa-mappa/
Supplementary Notes
While there has been some investment, EU and Italian national legislation is flexible enough that it can likely block any type of PRC investment that would be considered threatening to the security of the country
Answered by 1 anonymous expert, and has been reviewed by Sorin Ionita
Explore Italy >Netherlands
Yes
Answer ( 2 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
- https://nvp.nl/news-and-publications/news/the-untapped-potential-of-dutch-venture-capital/
- https://www.netherlandsandyou.nl/your-country-and-the-netherlands/china/doing-business/trade-and-investment-in-the-netherlands
- https://www.hightechxl.com/post/hightech-connect-china-first-of-its-kind-investment-summit-matches-dutch-tech-capital-from-china
Supplementary Notes
This seems likely. In 2018, a Chinese investment forum was organized in tech-hub Eindhoven
Answered by 1 anonymous expert, and has been reviewed by Sorin Ionita
Explore Netherlands >Spain
Yes
Answer ( 2 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
There are some investments but in small and insignificant cases.
- https://www.businessinsider.es/fondo-internacional-cathay-innovation-entra-espanol-seaya-847585
- https://www.lainformacion.com/empresas/gigante-tencent-negocia-espana-inversion-startup-lingokids/2832052/
- https://startupxplore.com/es/blog/entrii-capta-130-000-e-en-su-primera-ronda-de-financiacion-con-el-apoyo-de-startupxplore/
Answered by Hernan Alberro, and has been reviewed by another 1 anonymous expert.
Explore Spain >Australia
Yes
Answer ( 1 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Answered by Nathan Attrill, and has been reviewed by another 1 anonymous expert.
Explore Australia >New Zealand
Yes
Answer ( 1 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Answered by Nathan Attrill, and has been reviewed by another 1 anonymous expert.
Explore New Zealand >Peru
Yes
Answer ( 1 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.
Explore Peru >Japan
Yes
Answer ( 1 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
See below links.
- https://www.fool.com/investing/2020/06/15/will-tencent-reduce-dependence-china-invest-japan.aspx
- https://www.bloomberg.com/news/articles/2020-05-25/tencent-to-become-largest-shareholder-in-japan-s-marvelous
- https://initial.inc/articles/global-startup-summary
Answered by Maiko Ichihara, and has been reviewed by PSA Team
Explore Japan >Cambodia
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
• Five Cambodia startups transforming the country’s tech ecosystem : … Together with a strategic partnership signed with Alibaba-backed cross-border logistics firm 4PX Express, the firm will “enable more Cambodian goods to be exported to China and the world” and establish a network of shipping routes in the Mekong region, along with creating a platform for Chinese users… Link
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Cambodia >Malaysia
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
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Few, but significant
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Supporting Evidence
Kairous Capital wants to bring Chinese tech startups to SEA via Malaysia, plans RMB fund Link Venture Capital Funds in Malaysia Link
- https://www.dealstreetasia.com/stories/kairous-capital-215251/
- https://tracxn.com/d/investor-lists/Venture-Capital-Funds-in-Malaysia
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Malaysia >Egypt
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
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Supporting Evidence
"China’s MSA Capital Explores Egypt Further, Backs 20-minute Delivery Startup, Rabbit, In $11m Pre-seed" Link Link
- https://afrikanheroes.com/2021/11/10/chinas-msa-capital-explores-egypt-further-backs-20-minute-delivery-startup-rabbit-in-11m-pre-seed/
- https://thecapitalquest.com/2021/05/18/egyptian-ecommerce-logistics-startup-bosta-bags-series-a-funding/
Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili
Explore Egypt >Jordan
Yes
Answer ( 1 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
“Over 100 developers and startups attend HUAWEI developer day in Jordan.” Link
Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili
Explore Jordan >Lebanon
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
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Supporting Evidence
"Beirut, April 19, 2016: The MIT Enterprise Forum Arab Startup Competition final ceremony and Arab Youth Innovation Conference was held at the King Abdullah Economic City, in partnership with founding partner Community Jameel and Zain Group, who manages Touch on behalf of the Lebanon Telecom Ministry. There were 9 winning teams from 7 Arab countries: Kuwait, Saudi Arabia, Jordan, Lebanon, Egypt, Morocco and Tunis. The winning teams were across three tracks - Ideas, Startups, and Social Entrepreneurship... The competition’s final award ceremony was held in Saudi Arabia with the support of the government partner the Economic Cities Authority and hosting partner the King Abdullah Economic City along with global technology provider Huawei." Link
Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili
Explore Lebanon >Albania
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
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Few, but significant
More than a few, and significant
Supporting Evidence
Uplift has been a start-up accelerator program initiated in 2021 in Albania. Huawei Technologies Albania was listed as one of the potential sponsor/investors in start-up ideas. (see: Link) However to date Huawei Technologies Albania has no subsidiaries or shares ownership in any subsidiary in Albania. (checked through the National Centre of Business Registry Link ). Huawei has donated also to Tirana Inc., a Universities led initiative to support student start up initiatives. (See: Link and: Link )
Answered by Edval Zoto, and has been reviewed by another 1 anonymous expert.
Explore Albania >Latvia
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
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Supporting Evidence
Agreement between the Government of the Republic of Latvia and the Government of the People's Republic of China on Cooperation in the Field of Science and Technology Link A Baltic view on transatlantic tech relations towards China - “Cooperation in high-tech has been on the Sino-Baltic agenda since the beginning of China's engagement with the region in the early 2010s. The Baltic states had no need for China's loans, they believed high value-added cooperation could instead be established in cutting edge sectors with complementarity between China's technological development and the Baltics highly educated workforce, low production costs, and digital orientation. This framework was supported, at least at a symbolic level, within all three states, Estonia, Latvia, and Lithuania.”- Link
- https://likumi.lv/ta/lv/starptautiskie-ligumi/id/1784
- https://merics.org/en/short-analysis/baltic-view-transatlantic-tech-relations-towards-china
Answered by Una Berzina-Cherenkova, and has been reviewed by Salome Svanidze
Explore Latvia >Uzbekistan
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
With the assistance of entrepreneurs of China in Uzbekistan, production of electrical products, mobile phones, construction equipment has been established. Huawei has implemented 20 projects for development of telecommunication networks in the city of Tashkent and regions of Uzbekistan. Modems, smartphones and other equipment produced jointly with ZTE Corporation are in high demand in the domestic and international markets. - Link
Answered by Farkhad Tolipov, and has been reviewed by Salome Svanidze
Explore Uzbekistan >Tanzania
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
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Supporting Evidence
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Tanzania >Gambia
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Information source with the Chamber of Commerce and the Ministry of information suggests there is not Chinese capital investment in Gambia startups.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Gambia >Bangladesh
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
There have been one or two cases where it was reported that a PRC-connected company invested in a Bangladeshi technology startup.
- https://www.finextra.com/pressarticle/73644/ant-financial-invests-in-banladesh-based-bkash
- https://kr-asia.com/2c2p-aims-beyond-southeast-asia-with-ant-group-investment
- https://www.thedailystar.net/business/alibaba-buys-20pc-stake-bkash-1568293
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Bangladesh >Bulgaria
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Chinese investments in the Bulgarian start-up environment are limited, however, few examples exist.
- https://www.capital.bg/biznes/kompanii/2018/02/01/3122455_purviiat_kitaiski_kupuvach_na_bulgarska_it_kompaniia/
- https://seenews.com/news/two-investment-funds-get-minority-stake-in-bulgarias-walltopia-488367
- https://www.capital.bg/biznes/kompanii/2016/02/08/2701063_blackpeak_capital_investira_oshte_14_mln_evro_v/
Answered by Rumena Filipova and Mirela Petkova, and has been reviewed by Matej Šimalčík
Explore Bulgaria >Austria
Yes
Answer ( 1 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Upon research only one investment by a Chinese venture fund in an Austrian start-up has been identified: in 2020 the Austrian medtech Medicus AI received an EUR 1.2 million investment from the Chinese venture capital firm Sunhope Capital VC.
Answered by 2 anonymous experts, and has been reviewed by Alfred Gerstl
Explore Austria >Romania
Yes
Answer ( 1 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Supplementary Notes
There is very little information about such investments in Romania. While not a venture capital investment in a start-up, a Romanian company was acquired by a company owned by Tencent
Answered by 1 anonymous expert, and has been reviewed by Sorin Ionita
Explore Romania >Georgia
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Not Found
Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili and Tinatin Khidasheli
Explore Georgia >Armenia
No
Answer ( 0 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Not Found
Answered by Artak Kyurumyan, and has been reviewed by Ani Kintsurashvili and Mariam Usenashvili
Explore Armenia >Tajikistan
No
Answer ( 0 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Not Found
Answered by Umedjon Majidi, and has been reviewed by Ani Kintsurashvili
Explore Tajikistan >Senegal
No
Answer ( 0 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
No evidence to suggest this
Answered by Christian Ngnie, and has been reviewed by Fadel Thior
Explore Senegal >Bolívia
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
No comments.
Answered by Eloisa Larrea Montaño, and has been reviewed by another 2 anonymous experts.
Explore Bolívia >Uruguay
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Chinese investments in technology startups is not large in Uruguay.
Answered by 1 anonymous expert, and has been reviewed by another 2 anonymous experts.
Explore Uruguay >Paraguay
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Not Found
Supplementary Notes
Due to the nature of the Paraguayan market, the financing of this type of activity is focused on public institutions and cooperation organisations. The emergence of private platforms for this type of activity is also observed, but their development is still incipient.
Answered by 1 anonymous expert, and has been reviewed by another 2 anonymous experts.
Explore Paraguay >Colombia
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
There are no reports of Chinese financial institutions investing in tech start-ups in Colombia.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Colombia >Venezuela
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
no evidence of this was found.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Venezuela >Estonia
No
Answer ( 0 / 4 )
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
No evidence available.
Answered by Frank Jüris, and has been reviewed by another 1 anonymous expert.
Explore Estonia >Czech Republic
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
No evidence of that available.
Answered by Tobiáš Lipold and 1 anonymous expert, and has been reviewed by Martin Hála
Explore Czech Republic >Bosnia and Herzegovina
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
There is no available data that would prove PRC-connected investments in technology start-ups. Additionally, a recent media article that focused on PRC’s influence on Balkans claims that “In Bosnia, for the time being, only infrastructure projects are implemented with Chinese money”.
Answered by Tobiáš Lipold, Amina Celikovic, Selma Asceric, Darko Brkan, Emir Velic, Semir Dzebo, Aldin Karahasanovic and Emir Muric, and has been reviewed by another 1 anonymous expert.
Explore Bosnia and Herzegovina >Poland
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
No major VC investments in Polish startups in the period covered by the report have been identified. Some startups described as Polish - Chinese enterprises - the most famous example is Cosmoe - are registered and operating outside Poland. Foreign investor participation in funding Polish startups is very limited and even if the PRC-related entities invested in the Polish startups their share in overall startups investments would be marginal.
- https://pfrventures.pl/dam/jcr:97b2797b-5c3c-4f0a-8e38-ba42098244bf/Polskie%20Startupy%202020%20COVID%20EDITION.pdf
- https://cosmose.co/
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Poland >Turkey
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Not Found
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Turkey >Serbia
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Not Found
Supplementary Notes
We found no evidence of the presence of PRC-connected venture capital in technology start-ups, nor did experts familiar with the sector have any knowledge of the presence of such capital, but it cannot be ruled out that it has some small presence in Serbia.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Serbia >Montenegro
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Not Found
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Montenegro >Sierra Leone
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
No available data on this question
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Sierra Leone >Ghana
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
According to Crunchbase, none of Ghana's fintech startups has chinese investors except Jetstream which is a logistics startup with investment from china's MSA Capital
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Ghana >Zambia
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
The information was hard to come by all participants
Supplementary Notes
A worker at Lady M, based on the Copperbelt Province had based this on a rumour that start ups, especially those involved in transport (such as Ulendo) were supported by Chinese venture-capital interests. Further verification did not establish this as fact. Final answer: No
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Zambia >Slovakia
No
Answer ( 0 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Not Found
Answered by Filip Noubel, and has been reviewed by another 1 anonymous expert.
Explore Slovakia >Lithuania
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
No evidence found.
Answered by Konstantinas Andrijauskas, and has been reviewed by Vida Macikenaite and Linas Didvalis
Explore Lithuania >Hungary
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
NA
Supplementary Notes
There is no evidence to suggest otherwise.
Answered by 2 anonymous experts, and has been reviewed by Kristína Kironská
Explore Hungary >North Macedonia
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Not Found
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore North Macedonia >Afghanistan
No
Answer ( 0 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Not Found
Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.
Explore Afghanistan >Turkmenistan
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Not Found
Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.
Explore Turkmenistan >Costa Rica
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Según datos del Ministerio de Comercio Exterior (Comex) de Costa Rica, la inversión extranjera directa (IED) en el país, proveniente de la RPC fue de un 0,1% para el periodo 2012-2021, y en este último año se registró una inversión de US$1 millón, principalmente orientada en los sectores financiero (62,6%) e inmobiliario (37,4%).
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Costa Rica >Panama
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
Aunque Huawei anunció el lanzamiento de un programa de incentive para “startups” tecnológicas se desconoce la inversión realizada en Panamá en este sentido.
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Panama >Moldova
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
The start-up sector in Moldova is underdeveloped and likely presents no economic or strategic interest for the PRC
Answered by Eugen Muravschi, and has been reviewed by another 1 anonymous expert.
Explore Moldova >Ukraine
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
expert interview
Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.
Explore Ukraine >Azerbaijan
No
Answer ( 0 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
No Evidence Found.
Answered by Gubad Ibadoghlu and Vusal Guliyev, and has been reviewed by Ani Kintsurashvili
Explore Azerbaijan >Belarus
No
Answer ( 0 / 4 )
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
No direct evidence found.
Supplementary Notes
Right now, there are more than 60 companies active in the park, including as many as 33 from China, and only 12 from Belarus (the rest are Western companies, mainly from Germany). China has invested more than USD2bn in the “Great Stone” industrial park, and according to the Chinese embassy in Minsk the total invested amount is ultimately expected to reach USD5.5bn. Initially, when China first entered Belarus with its investments, the elites in Minsk hoped that their value across the country could reach USD30bn. This was classic wishful thinking because that amount is equal to half of the country’s annual GDP. Even so, the cumulative value of Chinese loans, grants and investments is estimated by the renowned Chinese Academy of Social Sciences in Beijing at USD20bn. Link Technology is a prominent theme. In addition to Great Stone, Belarus and China have signed an agreement to establish a research and development centre with a focus on smart technologies, computer semantics and artificial intelligence systems. Chinese investment has also gone into Belarusian railways, infrastructure, construction and manufacturing. China is now Belarus’s third most significant trading partner after Russia and Ukraine, with trade expected to top $3.5 billion in 2018—just a drop in a very large bucket for China, but highly significant for Belarus- Link
- https://www.obserwatorfinansowy.pl/in-english/business/what-is-china-doing-in-belarus/
- https://www.aspistrategist.org.au/china-belarus-and-the-bear-in-the-room/
Answered by 1 anonymous expert, and has been reviewed by Salome Svanidze
Explore Belarus >Nicaragua
No
Answer ( 0 / 4 )
Answer
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No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supporting Evidence
No such incident occurred.
Answered by Hernan Alberro, and has been reviewed by another 1 anonymous expert.
Explore Nicaragua >Kyrgyzstan
Skip
Answer
Skip
No
Few, but insignificant
More than a few, but insignificant
Few, but significant
More than a few, and significant
Supplementary Notes
Tech entrepreneurs in Kyrgyzstan say China’s Belt and Road scheme can help their country’s start-up culture. Link
Answered by Bakytbek Satybekov, and has been reviewed by Ani Kintsurashvili and Mariam Usenashvili
Explore Kyrgyzstan >
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