Technology

Answer

Supporting Evidence

"China’s MSA Capital Explores Egypt Further, Backs 20-minute Delivery Startup, Rabbit, In $11m Pre-seed" Link Link China’s MSA Capital Again Leads $33m Funding Round In Egyptian Ecommerce Startup, Capiter. Link After previously investing in Egyptian startups Homzmart, SWVL, Flextock, Nowpay, Cassbana, and Capiter, the China-based venture capital firm is part of the latest $11m pre-seed investment in Cairo-based 20-minute grocery delivery startup, Rabbit.

1. https://afrikanheroes.com/2021/11/10/chinas-msa-capital-explores-egypt-further-backs-20-minute-delivery-startup-rabbit-in-11m-pre-seed/
2. https://afrikanheroes.com/2021/09/13/chinas-msa-capital-again-leads-33m-funding-round-in-egyptian-ecommerce-startup-capiter/
3. https://afrikanheroes.com/2021/11/10/chinas-msa-capital-explores-egypt-further-backs-20-minute-delivery-startup-rabbit-in-11m-pre-seed/
4. https://afrikanheroes.com/2021/11/10/chinas-msa-capital-explores-egypt-further-backs-20-minute-delivery-startup-rabbit-in-11m-pre-seed/

Answered by 1 anonymous expert, and has been reviewed by Aksana Akhmedova

Answer

Supporting Evidence

1. https://www.foi.se/rapportsammanfattning?reportNo=FOI-R--5474--SE

Answered by 1 anonymous expert, and has been reviewed by Richard Turcsányi

Answer

Supporting Evidence

The country is a major tech hub and hosts up to 40 Chinese tech companies.

1. https://www.politico.eu/article/ireland-big-tech-china-economy/

Answered by 2 anonymous experts, and has been reviewed by Richard Turcsányi

Answer

Supporting Evidence

Pakistan’s e-commerce industry is still in its infancy. Experts say it has potential and interest from PRC firms to attract financing. Last year, the two countries agreed on a project fostering collaboration between 200 startup enterprises across various IT sectors, including the Internet of Things (IoT), cloud technology and others.

1. https://tribune.com.pk/story/2434562/china-pakistan-project-to-boost-trade-investment;
2. https://www.bolnews.com/latest/2021/12/pakistan-ushers-in-new-era-of-startups-chinese-official/

Answered by Shahzeb Jillani, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

According to the annual survey by the Brazil-China Business Council on Chinese investments in Brazil, the Information Technology segment stood out in 2022, coming in second place in the number of ventures, with a share of 25%. The investments made in national startups and fintechs involve Tencent, which increased its stake in Nubank and made investments in several national businesses, such as the startup Quinto Andar and the fintechs Cora, Omie and Frete; the Ant Group, which acquired the loyalty and digital currency platform Dotz; and the MSA Capital fund, which invested in Brazilian startups Cayena and Favo.

1. https://www.cebc.org.br/2023/08/29/numero-de-projetos-chineses-no-brasil-bateu-recorde-em-2022/
2. https://blog.cubo.network/investimento-chin%C3%AAs-em-startups-brasileiras

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

Tencent is the biggest investor in gaming development sector with recent investment in 2024 including buying more than 60% shares of Polish studio Techland for over a 1,5 billion USD

1. https://wnhub.io/news/investment/item-42715

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

Tencent Holdings is still a shareholder in VNG Corporation, which owns Zalo (WeChat/WhatsApp like messenger app) and Tiki.vn (e-shop) (see link 1, 2 and 3). It also holds shares in SEA company, which owns Shopee.com (one of the biggest e-shop in SE Asia) (link 4). Therefore, this Indicator deserves a “More than a few” rating and a “Significant” rating.

1. https://theinvestor.vn/chinese-giant-tencent-holdings-leaves-huge-imprint-at-vietnams-vng-corporation-d6827.html
2. https://www.vietnam.vn/vng-lan-dau-he-lo-tencent-ant-group-la-co-dong/
3. https://www.brandsvietnam.com/14666-Nguoi-khong-lo-bi-an-dung-sau-cac-thuong-vu-dau-tu-vao-thuong-mai-dien-tu-Viet-Nam
4. https://www.scmp.com/business/article/3189204/sea-owner-shopee-e-commerce-platform-reports-wider-loss-after-tencent-cuts
5. https://www.huawei.com/en/news/2021/7/100-million-huawei-cloud-spark-founders-summit

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

Chinese companies have partner NETone a state entity to invest in ICT

1. https://globalvoices.org/2023/02/28/undertones-zimbabwes-cyberpunk-cities-fueled-by-china/

Answered by Ernest Mudzengi, and has been reviewed by Andronicus Sikula and Dr. Obert Hodzi

Answer

Supporting Evidence

There is a grow of PRC-connected venture capital (VC) investing in Malaysian tech start-up. Therefore; this Indicator deserves a "More than a few" rating. According to the observation of a piece (Ashiqin Ariffin, 15 May 2023), this would invite a "reglobalization", that would want to express a shift of globalization from the conventional idea of the West or Centre towards the East. Therefore, this Indicator deserves a "Significant" rating.

1. https://www.nst.com.my/business/2023/05/909449/malaysia-has-what-it-takes-be-tech-hub-linking-china-southeast-asia

Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

As the Philippine’s largest trade partner and export market, China is also a major investor in several startups in the country in industries like fintech, renewable energy. This includes KKR and Tencent, which invested in Voyager Innovations (PayMaya) as well as Coins.ph; Alibaba backing GCash; while nine Chinese firms, including state-owned China General Nuclear Power Group, pledged US$14 billion in renewable energy development in the Philippines. Therefore, this Indicator deserves a "More than a few" rating. Some of these companies have gone on to hold a lion's share in the market, particularly GCash. Therefore, this Indicator deserves a "Significant" rating.

1. https://techcrunch.com/2021/06/27/paymaya-owner-voyager-innovation-raises-167m-from-kkr-tencent-and-ifc-will-launch-digital-bank-in-the-philippines/
2. https://www.rappler.com/brandrap/data-stories/225782-mobile-payments-leading-philippines/
3. https://pandaily.com/tencent-ramps-up-investment-in-philippine-fintech-startup-voyager-innovation/
4. https://asia.nikkei.com/Business/Business-trends/Philippine-e-payment-apps-bank-on-Alibaba-and-Tencent-for-growth
5. https://www.eco-business.com/news/chinese-investment-in-philippines-renewables/
6. http://coins.ph/

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

PRC-affiliated companies made substantial investments in tech startups in Canada. NetEase (网易) acquired the Canadian game company SkyBox Labs in January 2023. Horizons Ventures (维港投资), an investment firm established by Hong Kong business mogul Ka-shing Li, led a $15 million investment round in Promise Robotics, a Canadian AI startup based in Toronto.

1. https://startup.aliyun.com/info/1057167.html
2. https://www.reuters.com/legal/transactional/chinas-netease-buys-halo-co-developer-skybox-labs-global-expansion-drive-2023-01-06
3. https://www.venturecapitaljournal.com/ai-company-promise-robotics-inks-15m-series-a

Answered by 1 anonymous expert, and has been reviewed by Terry Glavin

Answer

Supporting Evidence

Chinese investment in Germany and take-overs have declined in recent years but the PRC is increasingly targeting high-technology start-ups and firms.

1. https://www.ey.com/de_de/news/2023/02/weniger-chinesische-firmenuebernahmen-in-deutschland

Answered by Angela Stanzel, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

Among the Chinese investors in British technology start-ups, Tencent might be the most significant one. Its portfolio covers British digital bank and unicorn Monzo, valued at £3.7 billion; Lighthouse Games, one of the UK's biggest AAA studios; First Light Fusion, which has pioneered a novel approach to generating energy by nuclear fusion; Congenica, a pioneer in genomic studies of rare diseases, developing software that enables data analysis 20 times faster than industry averages; and Hadean, which is building simulation software for the British Army, allowing tens of thousands of virtual soldiers onto digital battlefields. The above cases show that PRC-related enterprises have invested in many industry leaders in the UK, so this indicator deserves a 'Significant' rating.

1. https://www.reuters.com/markets/europe/chinas-tencent-builds-stake-uk-digital-bank-monzo-2021-12-31/
2. https://www.bloomberg.com/news/articles/2022-04-04/u-k-startup-s-big-friendly-gun-achieves-fusion-breakthrough
3. https://internationalfinance.com/tencent-buys-stake-in-uk-based-genomics-startup-congenica/
4. https://www.gamesindustry.biz/tencent-investment-marks-new-beginning-for-uk-studio-lighthouse-games
5. https://www.telegraph.co.uk/business/2022/08/07/chinese-tech-giant-invests-alongside-cia-fund-british-army-software/

Answered by Leo Shaw, and has been reviewed by Sam Dunning and Andrew Yeh

Answer

Supporting Evidence

The most well-known Kazakh projects that have succeeded globally are Nommi — the 4G Hotspot with Unlimited Wi-Fi, and Robo Wunderkind — a robotics kit designed for children. Kazakhstan is set to launch a 5G pilot in 2018, with the fifth-generation network expected to be fully operational within the next two years. Link China supports technological start-ups in Kazakhstan. A corresponding memorandum was signed with the Chinese technological and scientific park Zhongguancun (Chinese Silicon Valley) and Astana Hub as part of international cooperation with SCO member countries. Link

1. https://techcrunch.com/sponsor/unlisted/why-kazakhstan-could-be-an-interesting-market-for-your-startup/
2. https://profit.kz/news/57346/Kitaj-podderzhit-tehnologicheskie-startapi-Kazahstana/

Answered by Danil Bekturganov and Tatyana Sedova, and has been reviewed by Aksana Akhmedova

Answer

Supporting Evidence

In february 2023, Huawei started an investment plan called "SPARK" to finance mexican startups. The amount that will be invested is 1.6 million of US$. This project will be developed with the main Mexican Cooperation Agency (AMEXCID). Therefore, this Indicator deserves a "few, significant" rating".

1. https://expansion.mx/tecnologia/2023/10/04/china-invertir-startups-mexico-huawei#:~:text=El%20panorama%20emprendedor%20est%C3%A1%20en,1.6%20MDD%2C%20adem%C3%A1s%20de%20mentor%C3%ADas
2. https://www.eleconomista.com.mx/tecnologia/Huawei-y-Amexcid-invertiran-1.6-millones-de-dolares-en-startups-mexicanas-20230509-0077.html
3. https://infomercado.net/mexico/huawei-apuesta-1-6-millones-dolares-por-startups-mexicanas/

Answered by 1 anonymous expert, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano

Answer

Supporting Evidence

Chinese investments in the Bulgarian start-up environment are limited. One example - albeit of Chinese purchase, rather than investment, of a Bulgarian IT company: in 2018, China’s IT company ThunderSoft bought Bulgarian software firm MM Solutions for $37 million, which ranks as the third biggest foreign takeover in the Bulgarian software industry. Through the purchase the Chinese buyer has been enabled to apply the optical technology of MM Solutions to wide uses – including products for smart cars and the Internet of Things and thus become a world leading supplier of visual solutions. Therefore, this indicator deserves a few but significant response.

1. https://www.capital.bg/biznes/kompanii/2018/02/01/3122455_purviiat_kitaiski_kupuvach_na_bulgarska_it_kompaniia/

Answered by Rumena Filipova, and has been reviewed by Matej Šimalčík

Answer

Supporting Evidence

In 2023, Chinese battery produces Gotion announced purchase of local battery start up InoBat and construction of joint battery production facility.

1. https://www.inobat.eu/newsroom/the-battery-gigafactory-is-one-step-closer-gotion-high-tech-and-inobat-will-build-it-together/

Answered by Matej Šimalčík, and has been reviewed by Richard Turcsányi

Answer

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

1. https://www.helsinkifintech.fi/news/tencent-bets-on-finnish-fintech-enfuce/

Supplementary Notes

It is likely that this is done also more broadly but this is difficult to verify from public reports.

Answered by 1 anonymous expert, and has been reviewed by Richard Turcsányi

Answer

Supporting Evidence

There aren't many examples of PRC-connected venture capital investments or PRC-affiliated financial firms that invest or buy out Greek technology start-ups. Therefore, this Indicator deserves a "Few" rating. However, the fact that China targets some of Greek technology start-ups, indicates that it aims to acquire or even usurp foreign technological data, patents and know-how, in order to promote state strategies, utilization of dual-use technologies for military development. Therefore, this Indicator deserves a "Significant" rating.

1. https://www.enterprisegreece.gov.gr/en/invest-in-greece/sectors-for-growth/ict
2. https://www.trendingtopics.eu/greek-fintech-provider-viva-wallet-raises-80m-from-tencent-ebrd-to-expand-its-sme-centric-neobank/
3. https://www.ellines.com/en/entrepreneur/43610-the-award-winning-greek-travel-tech-startup/
4. https://www.ekathimerini.com/economy/236832/greek-ceo-sells-berlin-based-startup-for-90-mln-euros/
5. https://www.trendingtopics.eu/the-greek-microelectronics-startup-adveos-acquired-for-7-5m-by-a-chinese-tech-corporation/

Supplementary Notes

The Greek programme 'Enterprise Greece' is seeking to attract more foreign investment for Greek enterprices, including start-ups. China is featured as a promising investment partner as one of the major Asia ICT markets.

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

Opay, Palmpay and others among startups invested in by Chinese investors. Therefore this indicator deserves a yes response.

1. https://africansonchina.com/how-are-chinese-investments-impacting-african-startups/#:~:text=Notable%20among%20the%20African%20startups,Opay%20at%20US%242%20billion.

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

MiraclePlus is one of the 15 venture capital funds that invest in startups based in Ethiopia. A report made by Quartz also shows that Shenzhen companies are fueling Ethiopia’s burgeoning startup scene. beU Delivery, one of the largest food delivery platforms in Ethiopia, has raised $300,000 from the China-based accelerator MiraclePlus (formerly Y Combinator China)

1. https://shizune.co/investors/vc-funds-ethiopia#vc-funds-ethiopia-organization-miracleplus
2. https://www.miracleplus.com/en/about/
3. https://www.bloomberg.com/profile/company/1786828D:CH
4. https://www.youtube.com/watch?v=_3z9Rc5joVE
5. https://shega.co/post/beu-delivery-raises-300000-from-chinese-accelerator/

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

There is evidence that PRC connected venture capital have invested in two Kenyan startups. MSA Capital has invested in Kenya's Wapi Pay a startup facilitating cross-border payments between Africa and Asia. China’s Tencent Investment has invested in Kakua - an edutainment platform. Therefore, this indicator deserves a "Few" rating. Wapi Pay seeks to expand across the African continent. Therefore, this indicator deserves a "Significant" rating.

1. https://afrikanheroes.com/2021/08/04/why-this-china-based-fund-backed-a-2-2m-pre-seed-round-for-2-year-old-kenyan-fintech-wapi-pay/
2. https://techtrendske.co.ke/2022/07/01/kenyan-edutainment-startup-kakua-has-raised-6m-in-series-a-funding/

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

There could be, limited evidence.

1. https://asialink.unimelb.edu.au/insights/timor-lestes-china-relations-looking-for-economic-partners

Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

In September 2023, during the Huawei Connect 2023 forum in Shanghai, the newly appointed Minister of Digital Economy and Society (MDES) met with representatives from over 20 Chinese technology companies. He extended invitations for these companies to open offices in Thailand, aiming to boost investment and foster cooperation in emerging technologies within the country.

1. https://www.bangkokpost.com/business/general/2650922/huawei-to-build-ai-cloud-training-centre-in-thailand.

Answered by Pravit Rojanaphruk, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

Increased Chinese investment in Indonesia in the technology sector has encouraged joint ventures between Chinese and Indonesian companies in large start-ups such as JD.Id and Gojek Indonesia. Significant Chinese investments in Indonesia include Alibaba's and Tencent's in e-commerce and tech. This showcases their strategic interest in Indonesia's digital market.

1. https://lseideas.medium.com/chinas-digital-silk-road-in-indonesia-progress-and-implication-b6996172262a
2. https://www.fmprc.gov.cn/mfa_eng/gjhdq_665435/2675_665437/2716_663436/

Answered by Muhammad Zulfikar Rakhmat, and has been reviewed by Yeta Purnama

Answer

Supporting Evidence

The stock of Chinese venture capital in the US reached $3.5 billion in 2022, according to the Foundation for Defense of Democracies. However, the total value of the US venture capital market is between $200-$300 billion. Therefore, this Indicator derserves a "Few" rating. That said, PRC firms often invest in strategically significant technology sectors. Therefore, this Indicator deserves a "Significant" rating.

1. https://www.wired.com/story/chinese-venture-capital-silicon-valley-party-over/#:~:text=In%20total%2C%20the%20amount%20that,Group%2C%20an%20economic%20research%20firm
2. https://www.statista.com/statistics/277501/venture-capital-amount-invested-in-the-united-states-since-1995/
3. https://www.fdd.org/analysis/2022/09/15/the-weaponization-of-capital-chinas-private-equity-venture-capital/

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

In 2017, Tencent invested in Airwallex, a Melbourne-based fintech start-up, during its Series A round. The participants in its Series B round included Sequoia China and China's Hillhouse. Another notable case is Canva, an Australian graphic design platform, which received funding from Sequoia China in 2018 and has become a unicorn with a current valuation of $40 billion. Since some of the startups have become industry leaders, these investments should be considered significant.

1. https://techcrunch.com/2018/07/03/airwallex-raises-80m/
2. https://techcrunch.com/2018/01/08/new-sequoia-china-investment-values-australian-design-company-canva-at-1-billion/
3. https://www.cnbc.com/2023/05/09/canva-disruptor-50.html

Answered by Leo Shaw, and has been reviewed by Kevin Mooney and Andrew Yeh

Answer

Supporting Evidence

A great variety of startups have appeared in Peru, with the technological branch being the one that grows slowly due to lack of financing in technological development. Despite this, they participate in technological contests developed by China. Therefore, this Indicator deserves a “More than a few” rating. Startups obtain public financing through public contests or are financed by private companies. Peruvian startups that receive financing from Chinese companies are few. Therefore, this Indicator deserves an “Insignificant” rating.

1. https://andina.pe/agencia/noticia-startup-peruana-recibe-inversion-250000-aceleradora-china-804778.aspx

Answered by Jack Lo Lau and Jorge Jesús Chávez Ortíz, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano

Answer

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. Therefore, this indicator deserves a ""more than a few"" rating. In 2019, Innoway arrived in Chile, but its presence has diluted in recent years and is not longer showed as a ""Startup Chile"" Partner. Therefore, this indicator deserves an ""Insignificant"" rating. "

1. https://www.df.cl/tendencias/df-lab/hub-de-innovacion-chile-china-debuta-con-pitch-de-emprendedores-chilenos
2. https://www.df.cl/df-lab/innovacion-y-startups/la-nueva-estrategia-de-la-aceleradora-magical-startups-levantar-capital

Answered by Sascha Hannig Núñez, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano

Answer

Supporting Evidence

yes

1. https://intracen.org/fr/nouvelles-et-evenements/nouvelles/new-report-guide-to-chinese-private-investment-in-africa-en

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

China’s Huawei Launches “Huawei Spark” To Support Startups In Algeria September 2022. The startup "FARM AI" managed to get the second place in the international competition organized by the Chinese firm Huawei, for having created an innovative solution to the fungal disease using artificial intelligence (AI). Jan 2023

1. https://afrikanheroes.com/2022/09/13/chinas-huawei-launches-huawei-spark-to-support-startups-in-algeria/
2. https://www.aps.dz/en/economy/46335-algerian-startup-offering-solutions-in-agriculture-awarded

Answered by 1 anonymous expert, and has been reviewed by Filip Noubel

Answer

Supporting Evidence

Cathay Group was founded by a French and Chinese investor Cai Mingpo. Hard to say if there is an affiliation to PRC government

1. https://www.cathaycapital.com/the-next-tech-battle-france-the-global-ai-race/

Answered by 1 anonymous expert, and has been reviewed by Filip Noubel

Answer

Supporting Evidence

China Belgium Technology Center (CBTC) is a business and tech park financed by Chinese capital.

1. https://www.cbtc.eu/en/china-belgium-technology-center/

Answered by 1 anonymous expert, and has been reviewed by Richard Turcsányi

Answer

Supporting Evidence

As a major financial hub, Singapore services many PRC financial firms and family offices. These entities are active in the start-up environment in Singapore. PRC-related tech firms like TikTok, Alibaba, and SHEIN have established Singapore as headquarters. PRC technology firms have significant statkes in Singapore firms like Shopee and Lazada. Ant Group even has a digital bank. Observers suspect PRC technology firms of using Singapore as a platform to de-emphasize their PRC links and perhaps gain access into markets that require more scrutiny. Terms like "Singapore-washing" or "Singapore-cukooing" describe this phenomenon. The PRC is a major, but not the top, source of FDI and trade partner in services in Singapore through such investments.

1. https://asia.nikkei.com/Spotlight/DealStreetAsia/China-s-top-venture-capital-companies-flock-to-Singapore
2. https://www.techinasia.com/china-vc-singapore-southeast-asia-startup
3. https://www.businesstimes.com.sg/international/china-venture-capital-private-equity-funds-rattled-proposed-changes
4. https://www.ft.com/content/49134abc-60d0-4a39-9903-361f720c9081
5. https://www.rikvin.com/blog/top-22-venture-capital-firms-and-angel-investors-in-singapore/
6. https://businesschina.org.sg/en-us/event-highlights/accelerate-china-asean-venture-capital-investment-and-start-up-innovation-beyond-covid-19
7. https://www.alibabagroup.com/en-US/about-alibaba-businesses-1492015707334901760
8. https://www.straitstimes.com/business/economy/shopee-owners-chief-forrest-li-named-businessman-of-the-year
9. https://www.techinasia.com/shein-shifts-parent-firm-singapore-sources
10. https://fashionunited.uk/news/business/shein-reportedly-expands-singapore-office-relocates-administrative-home/2022021861462
11. https://www.straitstimes.com/business/property/tiktok-owner-bytedance-moving-to-bigger-singapore-office-at-one-raffles-quay-amid
12. https://www.reuters.com/article/idUSKBN2620FO/
13. https://vulcanpost.com/758901/tiktok-hiring-600-jobs-singapore/
14. https://www.channelnewsasia.com/business/singapore-tallest-building-alibaba-perennial-axa-tower-guoco-2860921
15. https://www.straitstimes.com/business/companies-markets/chinas-tencent-picks-singapore-as-asia-hub-after-india-us-bans
16. https://www.straitstimes.com/business/fintech-giant-ant-group-opens-new-office-in-s-pore-set-to-expand-offerings
17. https://www.edb.gov.sg/en/about-edb/media-releases-publications/ant-group-expands-singapore-presence-and-launches-ant-international-foundation.html
18. https://www.alibabacloud.com/trust-center/singapore
19. https://www.japantimes.co.jp/business/2024/02/22/companies/china-picking-singapore-over-hong-kong/
20. https://www.japantimes.co.jp/commentary/2024/02/22/world/singapore-china-trade/
21. https://sg.finance.yahoo.com/news/sequoias-china-units-move-singapore-005912043.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAANSNeB3tdB9OiBjecdqEtVZj5w184mwf3tGL4rsiXTMB6oLGT1f5wW9cU2dLuumdwmqkpvV6_bJDUm0vaLaWPO6M1onH_VfluYLziq7EkPtW7icp2WR8eNrY3NjZdmkw8iantwrIEodD5MwG6H-KG_LLRxi4D6Btl5FRvzd4rO_r
22. https://www.thinkchina.sg/big-read-how-chinese-enterprises-de-risk-singapore-washing-amid-china-us-tensions
23. https://www.ft.com/content/b66e2f92-1b92-47af-8f4b-f2a1abcedfbd
24. https://www.ft.com/content/a0c11e3e-ab72-4b4b-a55c-557191e53938
25. https://www.asiasentinel.com/p/singapore-pay-price-china-cuckooing
26. https://www.edunion.org.tw/category/chinas-crony-capital-watch/shopee/
27. https://www.edunion.org.tw/edutw/【目錄】蝦皮/
28. https://www.edunion.org.tw/newsrelease/潘杰賢收購蘋果新聞網-上海合夥人與中國黨政/
29. https://watchout.tw/reports/0FAjbPK7iCak1GlkbWGs
30. https://tw.news.yahoo.com/蘋果新買家有中資-潘杰賢-張鐘予是新加坡人-非神秘金主-034252917.html
31. https://www.singstat.gov.sg/modules/infographics/economy
32. https://tablebuilder.singstat.gov.sg/table/TS/M083801
33. https://tablebuilder.singstat.gov.sg/table/TS/M083811
34. https://tablebuilder.singstat.gov.sg/table/TS/M060261
35. https://tablebuilder.singstat.gov.sg/table/TS/M060271
36. https://asianbankingandfinance.net/news/ant-group-unveils-new-singapore-office-launches-foundation
37. https://vulcanpost.com/846006/ant-group-ceo-eric-jing-singapore-expansion-going-global/

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

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. According to its website, 38 of Taiwanese startups are in the program.

1. https://tw.news.yahoo.com/第三波陸資開放-納入創投-213000073.html
2. https://www.ondinecap.com
3. https://www.ent-fund.org/tc/portfolio/tw

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

Yes, for example, there are a couple of them.

1. https://krif.fund/about/
2. https://rcvf.generation-startup.ru/#

Answered by 1 anonymous expert, and has been reviewed by another 3 anonymous experts.

Answer

Supporting Evidence

PRC-connected VC, including Legend Capital, Sequoia Capotal China, IDG Capital China have invested in a number of Korean startups. Nonetheless, due to the lesser market size, South Korean startups are not as popular with Chinese VCs as American or Israeli startups. Companies such as Tencent (technically not a VC) have actively invested in Korean startups.

1. https://www.financeasia.com/article/korean-education-startup-secures-funding-from-china/454882
2. https://www.yahoo.com/entertainment/china-legend-capital-invests-korean-vfx-firm-dexter-153003660.html
3. https://www.globalprivatecapital.org/newsroom/sequoia-capital-china-leads-usd173m-investment-in-south-korean-fintech-app-operator-viva-republica/
4. https://pitchbook.com/profiles/fund/11711-17F

Answered by Muhammad Zulfikar Rakhmat, and has been reviewed by Yeta Purnama

Answer

Supporting Evidence

Yes, however this remains at a very early stage.

1. http://m.en.freshnewsasia.com/index.php/en/localnews/21234-2021-02-12-10-13-58.html
2. https://www.khmertimeskh.com/501410408/camtech-officially-opens-focusing-on-science-and-tech-assisted-by-china/

Supplementary Notes

Techo Startup Center Signs MoU with Huawei Cambodia to Enhance the Collaborative Environment for Innovators with Cloud and Artificial Intelligence (AI) Technical Assistance

Answered by Bradley J. Murg, and has been reviewed by another 2 anonymous experts.

Answer

Supporting Evidence

The INSS documented 18 investments in Israeli companies by PRC-related entities in 2022.

1. https://www.inss.org.il/publication/number-of-deals-and-investment/
2. https://en.globes.co.il/en/article-transport-planning-co-optibus-raises-100m-at-13b-valuation-1001412135
3. https://www.sportsvideo.org/2023/03/13/pixellot-inks-new-partnership-with-chinas-baidu-to-transform-local-sports-through-ai/
4. https://www.nasdaq.com/articles/israels-storedot-moves-closer-to-2024-production-of-fast-charge-batteries
5. https://agfundernews.com/future-crops-tencent-leads-funding-for-soil-based-vertical-farms

Answered by The Institute for National Security Studies (INSS), and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

With the assistance of Chinese entrepreneurs in Uzbekistan, the production of electrical products, mobile phones, and construction equipment has been established. Huawei has implemented 20 projects for the development of telecommunication networks in Tashkent and various regions of Uzbekistan. Additionally, modems, smartphones, and other equipment produced in collaboration with ZTE Corporation are in high demand both domestically and internationally.

1. https://invest.gov.uz/investor_for/kitaj-2/

Answered by Farkhod Tolipov, and has been reviewed by Ani Kintsurashvili

Answer

Supporting Evidence

“Over 100 developers and startups attend HUAWEI developer day in Jordan.” Link Huawei launched cloud services in Jordan and announced the establishment of a program to support small- and medium-sized startups through advanced cloud services and communication platforms in partnership with international investors. Link

1. https://mystartupworld.com/over-100-developers-and-startups-attend-huawei-developer-day-in-jordan/
2. https://petra.gov.jo/Include/InnerPage.jsp?ID=45401&lang=ar&name=en_news

Supplementary Notes

No new evidence was found.

Answered by 1 anonymous expert, and has been reviewed by Aksana Akhmedova

Answer

Supporting Evidence

Only one investment by a Chinese venture fund in an Austrian start-up has been identified. Therefore, this indicator deserves a "Few" rating. In 2020 the Austrian medtech start-up Medicus AI received an EUR 1.2 million investment from the Chinese venture capital firm Sunhope Capital VC. Recent reports on VC investments in Austrian start-ups do not document significant Chinese investments. Therefore, this indicator deserves an "Insignificant" rating.

1. https://www.ey.com/de_at/news/2024/02/at-presse-start-up-invest-barometer-2023
2. https://investinaustria.at/en/news/2020/01/medicus-ai-million-investment-chinese-vc.php

Answered by 2 anonymous experts, and has been reviewed by Alfred Gerstl

Answer

Supporting Evidence

There are some cases of Portuguese technology start-ups such as the unicorn "Farfetch" that started with investment by Tencent (and in its Chinese operation with Alibaba).Therefore, this indicator deserves a "Few" rating. Nonetheless, the most recent news reveal that Farfetch is struggling and there are huge doubts about its future. Therefore, this indicator deserves an "Insignificant" rating.

1. https://observador.pt/2020/01/30/farfetch-unicornio-com-adn-portugues-angaria-250-milhoes-de-dolares-de-investimento/
2. https://www.sabado.pt/ultima-hora/detalhe/farfetch-mantem-silencio-e-reserva-sobre-nova-data-para-anuncio-dos-resultados-trimestrais

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

There is no recent information about such investments in Romania. While not a venture capital investment in a start-up, a Romanian gaming company was acquired by a company owned by Tencent a few years ago, while another was selected for a prize in Shanghai. These are very marginal and insignificant cases, though

1. https://www.startupcafe.ro/idei-antreprenori/miniclip-tencent-chinezi-preluare-green-horse-games-companie-romaneasca.htm
2. https://www.revistabiz.ro/start-up-romanesc-premiat-pentru-inovatie-in-china/

Answered by 1 anonymous expert, and has been reviewed by Mădălina Voinea and Sorin Ionita

Answer

Supporting Evidence

There are cases of PRC-connected companies and agencies that invest in technology start-ups in Italy, therefore the indicator deserves a "Few" rating. On the other hand, there is a clear EU policy to offer precedence to EU investors for promising tech start-ups, which Italian companies seem to take advantage of. Therefore, the indicator deserves an "Insignificant" rating.

1. https://www.wired.it/economia/start-up/2021/09/17/startup-cina-finanziamenti-europa-mappa/
2. https://www.wired.it/article/startup-fondo-unicorni-europa/

Answered by 1 anonymous expert, and has been reviewed by Mădălina Voinea and Sorin Ionita

Answer

Supporting Evidence

There are potential cases of such acquisitions or investment, though most of the visible ones are from before 2020. The Netherlands does not have a practice of screening investors in start-up companies. Therefore, the indicator deserves a "Few" and "Insignificant" indicator.

1. https://www.hightechxl.com/post/hightech-connect-china-first-of-its-kind-investment-summit-matches-dutch-tech-capital-from-china
2. https://nltimes.nl/2022/09/28/900-dutch-companies-owned-china-chinese-parent-experts-fear-espionage

Answered by 1 anonymous expert, and has been reviewed by Mădălina Voinea and Sorin Ionita

Answer

Supporting Evidence

There is a recently signed agreement between Huawei and Polish venture capital FundingBox to accelerate tech companies in Spain.

1. https://www.huawei.com/es/news/es/2023/Huawei%20lanza%20nuevas%20oportunidades%20de%20crecimiento%20para%20el%20ecosistema%20de%20startups

Answered by Hernan Alberro, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

This indicator deserves a 'few' rating based on the total foreign investments in technology startups in relation to investments from PRC-affliated entities. As such, the indicator is deemed as insignificant as the exposure is minimal with regards to investment. After the 2020 border clash, there hasn't been any significant changes in terms of investments.

1. https://scroll.in/article/1010783/china-has-invested-a-lot-less-in-indian-startups-than-you-thought-it-did
2. https://web.archive.org/web/20240108065245/https://scroll.in/article/1010783/china-has-invested-a-lot-less-in-indian-startups-than-you-thought-it-did

Answered by 1 anonymous expert, and has been reviewed by Tenzin Dalha

Answer

Supporting Evidence

Chinese venture capital investments are apparent in South Africa, but reportage on the fact has been lacking, particularly who is behind the investments for the period. This is likely due to the contraction of the sector in South Africa. Therefore, this Indicator deserves a "Few" and “Insignificant” rating.

1. https://empowerafrica.com/jumo-the-south-african-fintech-pioneering-the-future-of-financial-services-in-africa/
2. https://www.avca.africa/media/m3db4yt0/02175-avca-vc-report-2023_4-final-1.pdf

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

New Zealand tech startups tnd to be funded more by Australians, US citizens and New Zealanders. This has occurred less in the last four years due to problems in the PRC economy, or is being publicised less

1. https://web.archive.org/web/20240214035621/
2. https://ecommercenews.co.nz/story/tus-holdings-to-explore-investment-in-new-zealand-s-tech-sector
3. https://rdrr.nz/wp-content/uploads/2020/08/2020-07-HoldingAPenInOneHand-Brady.pdf

Answered by Catherine Churchman, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

Tencent has been told that it expects to continue investing in Japanese technology companies beyond 2022. Therefore, this Indicator deserves a "Few" rating. However, overall such investment is still limited. Therefore, this Indicator deserves an "Insignificant" rating.

1. https://toyokeizai.net/articles/-/584037
2. https://xtrend.nikkei.com/atcl/contents/18/00624/00014/

Answered by Ryohei Suzuki, and has been reviewed by Maiko Ichihara and Yuki Moritarni

Answer

Not Found

Answered by Valeri Chechelashvili, and has been reviewed by Ani Kintsurashvili

Answer

Not Found

Supplementary Notes

"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 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 a complementarity between China's technological development and the Baltics highly educated work force, 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"

1. https://likumi.lv/ta/lv/starptautiskie-ligumi/id/1784
2. https://merics.org/en/short-analysis/baltic-view-transatlantic-tech-relations-towards-china

Answered by Una Aleksandra Berzina-Cerenkova, and has been reviewed by Ani Kintsurashvili

Answer

Not Found

Answered by Artak Kyurumyan, and has been reviewed by Ani Kintsurashvili

Answer

Not Found

Supplementary Notes

No evidence was found.

Answered by 2 anonymous experts, and has been reviewed by Aksana Akhmedova

Answer

Not Found

Answered by Umedjon Majidi, and has been reviewed by Aksana Akhmedova

Answer

Not Found

Supplementary Notes

Tech entrepreneurs in Kyrgyzstan say China’s Belt and Road Initiative can help boost their country’s start-up culture. Link

1. https://www.cnbc.com/2018/01/29/belt-and-road-tech-entrepreneurship-in-kyrgyzstan.html

Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili

Answer

Not Found

Supplementary Notes

No evidence was found.

Answered by 2 anonymous experts, and has been reviewed by Aksana Akhmedova

Answer

Not Found

Answered by 1 anonymous expert, and has been reviewed by Ani Kintsurashvili

Answer

Not Found

Supplementary Notes

President of the Mongolian National Chamber of Commerce and Industry O. Amartuvshin said “I am glad that companies in the fields that Mongolians are interested, such as construction, housing, urban improvement, space technology, software, electronic systems, peanut processing, mining, and renewable energy, are included in this business group. I hope that this visit will pave the way for business cooperation between the two countries to be further developed in many new areas.” in his opening remarks. Link

1. https://montsame.mn/en/read/323643

Answered by Dulamkhorloo Baatar, and has been reviewed by Ani Kintsurashvili

Answer

Supporting Evidence

There is no observation of the Indicator phenomenon

Answered by Alonso Illueca, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano

Answer

Supporting Evidence

There is no observation of the indicator phenomenon.

1. https://n9.cl/wbcze
2. https://n9.cl/xwnjq

Supplementary Notes

CINDE, Costa Rica's private foreign investment advisory agency, confirmed 28 new multinational companies in the country, none of which are Chinese-owned. The companies come from the United States, Finland, Switzerland, Peru and South Korea.

Answered by 1 anonymous expert, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano

Answer

Supporting Evidence

There is no observation of the Indicator phenomenon.

1. https://www.newswire.ca/news-releases/cgtn-china-venezuela-usher-in-a-new-era-of-bilateral-relations-892758236.html

Supplementary Notes

The Chinese Venezuelan relationship have been developed throug a model based on State-Stae relations. So, It is no common the developing of some investments in local technology start-ups.

Answered by 1 anonymous expert, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano

Answer

Supporting Evidence

No evidence was found that PRC financial companies or government entities invest in Ecuadorian technology startups.

Answered by Paúl Mena Mena, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano

Answer

Supporting Evidence

There is no evidence of Chinese firms partnering with small green startups.

1. https://www.lightcastlebd.com/insights/2023/07/bangladesh-startup-investment-report-2023-q2/

Answered by 1 anonymous expert, and has been reviewed by Filip Noubel

Answer

Not Found

Answered by Konstantinas Andrijauskas, and has been reviewed by Vida Mačikėnaitė-Ambutavičienė and Linas Didvalis

Answer

Supporting Evidence

There is no observation of the Indicator phenomenon.

Answered by 1 anonymous expert, and has been reviewed by Kristina Kironska

Answer

Supporting Evidence

This is highly unlikely due to a national law on investment screening to ensure a systematic assessment of foreign economic investments in terms of potential national security risks, including whether the investor is “controlled by a foreign government”.

1. https://www.retsinformation.dk/eli/lta/2021/842
2. https://scandasia.com/innovation-house-china-denmark-opens/

Answered by 2 anonymous experts, and has been reviewed by Kristina Kironska

Answer

Supporting Evidence

There is no observationof the indicator phenomenon.

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

There is no observation of the Indicator phenomenon

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

There is no observation of the Indicator phenomenon.

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

There is no observation of the indicator phenomenon.

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

There is no observation of the Indicator phenomenon.

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

The research found no clear indicator of this but it is difficult to rule it out completely since it is challenging to go through all funding of all startups in Iceland. There was no evidence that there are any PRC-connected venture funds focusing on Iceland.

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

The start-up sector in Moldova is underdeveloped and likely presents no economic or strategic interest for the PRC

Answered by 1 anonymous expert, and has been reviewed by Mădălina Voinea and Sorin Ionita

Answer

Supporting Evidence

We are not aware of any such cases

Answered by 1 anonymous expert, and has been reviewed by Mădălina Voinea and Sorin Ionita

Answer

Not Found

Answered by Hernan Alberro, and has been reviewed by Javier Melendez

Answer

Not Found

Answered by Hernan Alberro, and has been reviewed by another 1 anonymous expert.

Answer

Not Found

Answered by Hernan Alberro, and has been reviewed by Julieta Heduvan

Answer

Supporting Evidence

Not Found

1. NO LINK

Answered by Rahimullah Kakar, and has been reviewed by Niva Yau

Answer

Supporting Evidence

Not Found

1. NO LINK

Answered by Temur Umarov, and has been reviewed by Niva Yau

Answer

Not Found

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Not Found

Answered by 2 anonymous experts, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

There is no observation of the Indicator phenomenon.

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

There is no observation of the Indicator phenomenon.

Answered by Sriparna Pathak, and has been reviewed by Amish Mulmi

Answer

Supporting Evidence

There is no observation of the Indicator phenomenon.

Answered by 1 anonymous expert, and has been reviewed by Andronicus Sikula and Alfred Bulakali

Answer

Supporting Evidence

There is no observation of this phenomenon.

Answered by Ricardo Ferrer Picado, and has been reviewed by Hernan Alberro

Answer

Supporting Evidence

There is no observation of the indicator phenomenon. However, it is important to note that this phenomenon is projected.

1. https://www.gub.uy/ministerio-industria-energia-mineria/comunicacion/noticias/paganini-exploro-oportunidades-negocios-inversion-mision-oficial-china
2. https://www.ambito.com/uruguay/y-china-sellan-una-alianza-estrategica-comercial-n5881651
3. https://www.gub.uy/ministerio-educacion-cultura/comunicacion/noticias/acuerdo-cooperacion-ciencia-tecnologia-uruguay-china-para-co-creacion
4. http://spanish.peopledaily.com.cn/n3/2023/1121/c31619-20100480.html

Answered by Ricardo Ferrer Picado, and has been reviewed by Hernan Alberro

Answer

Supporting Evidence

There is no observation of the indicator phenomenon.

Answered by Eric Lemus, and has been reviewed by Julio Martinez and Alvaro Cruz

Answer

Supporting Evidence

While PRC invests in large national infrastructure projects theres no evidence of it investing in tech start ups in Uganda.

1. https://shizune.co/investors/financial-services-investors-uganda#financial-services-investors-uganda-person-tidjane-deme

Supplementary Notes

Uganda also participates in the China-Africa Investment Summit.But the purpose of this investment meeting is to connect Chinese investors with African green start-ups. Link Link Link

1. http://fc-ssc.org/en/events/detail/108
2. https://english.news.cn/20231110/c46203359e914f3784538883e4a49145/c.html
3. https://www.wwfkenya.org/

Answered by Agather Atuhaire, and has been reviewed by Abdou Rahim Lema

Answer

Supporting Evidence

There is no observation of the Indicator phenomenon.

Answered by Sérgio Chichava, and has been reviewed by Tomé Bambo

Answer

Supporting Evidence

There is no observation of the Indicator phenomenon.

Answered by 1 anonymous expert, and has been reviewed by another 1 anonymous expert.

Answer

Supporting Evidence

Its the other way around: Saudi invest in Chinese startups

1. https://www.al-monitor.com/originals/2023/12/saudi-pif-ups-investment-chinas-alibaba-backed-tech-fund

Answered by Muhammad Zulfikar Rakhmat, and has been reviewed by Yeta Purnama

Answer

Supporting Evidence

No, but the other way around

1. https://www.wamda.com/2020/07/qia-invests-beijing-based-zuoyebang

Answered by Muhammad Zulfikar Rakhmat, and has been reviewed by Yeta Purnama

Answer

Supporting Evidence

No conclusive information was found to answer this indicator. However, the subject has been mentioned by the Colombian government.

1. https://www.larepublica.co/economia/en-china-el-presidente-duque-invito-a-baidu-a-invertir-en-start-ups-locales-2890261

Answered by 1 anonymous expert, and has been reviewed by Team Fundación Andrés Bello - Centro de Investigación Chino Latinoamericano

Answer

Supporting Evidence

One of the experts has observed the phenomenon in question, but cannot provide or share the documentary evidence required to answer the Indicator in the affirmative.

Answered by Stefan Vladisavljev and 1 anonymous expert, and has been reviewed by Kristina Kironska

Answer

Supporting Evidence

The experts could not provide the convicing documents from the ground to support the evidence. While the local experts have observed the Indicator phenomena, they cannot provide the necessary documentary evidence to answer the Indicator in the affirmative.

Answered by 3 anonymous experts, and has been reviewed by another 1 anonymous expert.