In October, the co-working office space company WeWork capped off a $690M Series F round at a valuation over $16 billion. The mega-round didn’t primarily come from investors based in the US, but rather those in China including hotel group JinJiang International, Beijing-based PE firm Hony Capital and its parent, Legend Holdings.
WeWork isn’t alone. According to CB Insights data, over one-quarter (26%) of all US-based unicorns count an investor based in the Greater China Region (China, Taiwan, Hong Kong). These investors range from some of the largest internet companies in the world (Baidu, Alibaba, and Tencent) to institutional investors and VCs (Hillhouse Capital and Horizons Ventures) to a host of others.
For more cross-border investment data, check out the CB Insights Venture Capital Database.
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