of China seed money set aside for US
A group of China private equity investors set aside $400m to pour into
early investments in new US businesses, marking a large rise in the
amount of capital chasing seed investments.
The investment vehicle represents a step up from an earlier $25m fund
raised to back investments through AngelList, an internet-based service
for organising seed investments.
Interest in backing high-growth tech start-ups has brought large amounts
of money to established private companies that have proved they have a
workable model. 投資者對投資高成長性科技創業企業的興趣，為那些已證明自身模式可行的成熟私人企業吸引來了大筆資金。
But it has been harder for outsiders to get in on the newest business
ideas at the earliest stage. 但對外部投資者而言，在最早期階段參與最新商業構想歷來難度更大。
Seed investments are usually done in amounts of less than $1m, and are
made by individuals, known as angels, making it hard for institutional
investors with more capital to get involved.
The total amount of seed-stage investments in the US last year was
$1.33bn, according to research firm CB Insights, though that was still
up about 50 per cent from the year before. 研究公司CB
Naval Ravikant, AngelList founder, said the availability of much larger
amounts of money was a result of the excess liquidity in financial
markets. AngelList創始人納瓦爾?拉維康特(Naval Ravikant)說，更高額種子投資的出現，緣于金融市場的過度流動性。
The new fund is almost twice as big as the $205m that has been invested
through AngelList in the past two years. AngelList創始人納瓦爾?拉維康特
AngelList said it was led by China Science and Merchants Capital and
included the three biggest private equity investors in China.
Mr Ravikant said it was independent of the online marketplace but was
committed to putting the entire amount to work in AngelList investments.
“It’s up to us to make sure it doesn’t create a bubble,” he said of the
China investment vehicle.
The fund might have topped $1bn but was capped to limit its impact on
the seed market, he said. “我們負責確保不引發泡沫，”他在談起這只中國投資基金時表示。