In China, Apps Are Out—Infrastructure Is In
Whether the U.S. government will allow U.S. investors to back funds focused on China’s strategic priorities remains an open question.
Recently, in Shanghai’s gritty industrial district, venture capitalist Ian Goh put on a gas mask to observe robots pack exactly 40 kilograms of wheat flour into each bag. It was all part of his due diligence on a Chinese startup, Innotime, that makes packaging robots.
In a hunt for new investment opportunities, Goh, who is a managing partner and co-founder of local venture capital firm 01VC, has also visited a coal mine, a construction site, a cargo terminal and a medical testing lab. Not on his list: the next blockbuster app for China’s 1.4 billion consumers.