![]() ![]() Instead, investing in startups is becoming a sensation among Chinese movie stars and singers, and VC gold rush has become the new source of FOMO (fear of missing out). Hu is not the only celebrity-turned investor in China. "We are able to invest with cheaper prices." "Fame and resource superiority that celebrities have could be turned into bargaining power," Hu said in an email interview to CNBC. Meanwhile, mechanical parking systems manufacturer Dayang Parking, in which the fund invested in February 2016, is currently valued around 1.04 billion RMB (about $151 million) and is lining up for an IPO. Those include projector maker Jiangsu Inovel Display Technology and entertainment company Beijing Wishart Culture Media, which are both now listed on China's National Equities Exchange and Quotations - also known as the New Third Board. In 2014, Hu was ranked by Fortune as one of China's "40 Under 40" business leaders.īy the end of 2016, 83 percent of companies that the fund invested in had completed additional rounds of funding. Since 2013, Haiquan Fund has already invested in nearly 50 startups - as either an angel or a VC - and it manages between 1.2 billion and 1.3 billion RMB (between $175 million and $189 million).
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