Silicon Dragon Digest: October 23, 2017
 PEOPLEGrace Yun Xia has jumped from Tencent, where she scouted for deals in Southeast Asia, to Jungle Ventures, one of Singapore’s larger VCs with a fund of $100 million. At Jungle, she plans to help portfolio companies strategize for a leap into China. See photo, Jungle’s Amit Anand and Vaishali Cooper with Grace (center).TRENDS Artificial intelligence is this season’s buzzword in venture circles. But the concern from investors in this technology sector is that the hype exceeds the expectations so far. That imbalance may shrink though in the next five years as the promise of AI comes to fruition, and more venture investors and young company entrepreneurs work together to help it scale in practical ways. Read Forbes: AI Hype? DEALS The $4 billion raised by China’s Meituan-Dianping puts the e-commerce service platform in the stratosphere as the world’s fourth-largest startup by valuation, at a lofty $30 billion. An investor group from Tencent led the deal, with China Everbright, Priceline Group and Sequoia Capital China. Meituan-Dianping is the result of a $15 billion merger in 2015 of the two, both backed by Alibaba. IPOs EXITS INDIA / SOUTHEAST ASIA NOTEWORTHY |
 FUNDSThe Hong Kong government has allocated $256 million for its Innovation and Technology Venture Fund to foster VC investment and boost the startup ecosystem in Hong Kong, which grew 24% in 2016, with fintech, healthtech, IoT and smart city technologies leading. VCs interested in becoming an investment partner with ITVF can apply up until January 15, 2018. The selection process for VC firms, both in Hong Kong and overseas, will be handled by an independent committee of business execs, investors and academics. |
