China-based CVCs have returned to backing large startup financing rounds, helping to boost deal volume in China as foreign investors exit the country.

Alibaba marketplace logo Source: Creative Commons
China-based technology group Alibaba is back to direct investing with a focus on artificial intelligence (AI).
Alibaba Cloud has just backed 01.AI at a valuation topping $1bn to develop an open source AI available in multiple languages.
This is Alibaba’s third direct AI deal in a month. It took part in a financing round for Zhipu Huazhang...

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James Mawson

James Mawson is founder and chief executive of Global Venturing.
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