As Beijing was bearing down on its technology industry, banning lucrative business models and freezing new foreign listings, Neil Shen stepped up to a podium in the Chinese capital with a message to fellow entrepreneurs: align your companies with the country’s direction.
Sequoia China’s billionaire founder implied his venture capital group was already in tune: 80 per cent of the companies it has invested in recently were in “artificial intelligence, advanced manufacturing and other hard tech fields”, he told the conference.
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