U.S. Venture Capital Firm Is Still Betting on China

(Beijing) – A Silicon Valley-based venture capital firm that was an early entrant in China says it will continue to bet on Internet- and mobile technology-driven businesses in the country, despite concerns that market turmoil will affect private fundraising this year.

GGV Capital, an early backer of e-commerce giant Alibaba Group Holding Ltd., has invested in more than 50 start-ups in the country over the past 15 years. Despite concerns that some Internet-related businesses, such as online-to-offline service providers and mobile application developers, have been overvalued by investors, creating the risk of a bubble, Hans Tung, a managing partner of GGV Capital, said he is still optimistic about investing in China's mobile Internet companies.