You will learn: 1) China by the Numbers 2) How to Navigate the China Funding Sea 3) 7 Questions You Must Ask Your China Investors

1. CONFIDENTIAL
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Scaling Globally: Navigating China Money
Edith Yeung | @edithyeung

2. CONFIDENTIAL
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Edith Yeung is the Head of 500 Startups Greater China
and 500 Startups Mobile Collective. She has invested
in over 35 mobile, VR, AR, AI and machine learning
startups in last two years.
Before 500, Edith was the VP of Marketing & Business
Development for Dolphin Browser. Dolphin Browser is
a Sequoia-backed mobile browser with over 150M
installs worldwide. She also founded RightVentures -
seed stage investment firm focusing on mobile and
consumer internet companies. Prior, she led many
operational roles at Oracle, Siebel, AT&T, Symantec,
Telstra, Cisco, Autodesk, etc.
Edith Yeung | @edithyeung | edith.co

3. CONFIDENTIAL
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Since July 20101,540+ Portfolio Companies
500 Startups Is the Most Active Seed Investor in
the World1
$275M in AUM2
The various geographies highlighted in the map result from investments we have made across all 500 Startups funds.
1. CB Insight https://www.cbinsights.com/blog/2015-early-stage-investors/
2. Approximated as of 5/31/2016 and includes the following 500 Startups funds: (a) 500 Startups, L.P. and 500 Startups-A, L.P. (together, “Fund I”), (b) 500 Startups II, L.P. and 500 Startups II-A, L.P. (together,
“Fund II”), (c) 500 Startups III, L.P. and 500 Startups III-A, L.P. (together, “Fund III”), (d) 500 Startups IV, L.P. and 500 Startups IV-A, L.P. (together, “Fund IV”), (e) 500 Startups Annex Fund,
3. L.P. (“Annex”), (f) 500 Luchadores, L.P. (“Luchadores”), (g) 500 Durians, L.P. (“Durians”), (h) 500 Mobile Collective, L.P. (“Mobile Collective”), (i) 500 Kimchi, L.P. (“Kimchi”), (j) 500 TukTuks, L.P.
(“TukTuks”), (k) 500 Startups JP, L.P. ("Japan”), (l) 500 Startups Istanbul, L.P. ("Istanbul”), (m) 500 Nordics, L.P. (“Nordics”), (n) 500 Falcons, L.P. (“Falcons”), (o) 500 Kulfi, L.P. (“India”), and (p) 500
Fintech, L.P. (“Fintech”), and (q) 500 Startups Canada, L.P. (“Canada”).

4. CONFIDENTIAL
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3 Unicorns ($1B+ in valuation)
Companies are a select sampling of investments across 500 Startups funds and will not be held in Fund IV. While Fund IV has not invested in the rounds of financing shown on this slide, at least one 500
Startups fund has invested in one or more rounds of financing for each of these companies. The valuations listed herein are estimated as at March 31, 2016 based on 500 Startups Valuation Policy as set out in
the Appendix to this presentation. These numbers provide a snapshot of estimated valuation as at a particular time and may change. Further detail with regard to financing of companies listed on this slide can
be found on Crunchbase. A full list of 500 Startups companies is available upon request.
30+ Centaurs ($100M ~ $999M in valuation)
* indicates companies that have already exited
3 Unicorns ($1B+ in valuation) and 30+ Centaurs
($100M-999M in valuation)
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5. CONFIDENTIAL
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Edith Yeung | @edithyeung | edith.co
China by the Numbers

6. CONFIDENTIAL
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Edith Yeung | @edithyeung | edith.co
$231 Billion
Government-backed venture funds raised
Source: http://origin.www.uscc.gov/sites/default/files/Research/Chinese_Investment_in_the_United_States_Rhodium.pdf

7. CONFIDENTIAL
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Edith Yeung | @edithyeung | edith.co
$140 Billion
In 2016, China became the second-largest global
acquirers behind the US with US$140B in
completed M&A transactions
Source: http://www.usmergers.whitecase.com/executive-summary

8. CONFIDENTIAL
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Edith Yeung | @edithyeung | edith.co
48 Deals
Baidu, Alibaba, Tencent and JD.com invested
$5.6B in 48 US tech deals in the past 48 months
Source: http://www.cnbc.com/2017/03/08/chinas-tech-giants-are-pouring-billions-into-us-start-ups.html

9. CONFIDENTIAL
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Edith Yeung | @edithyeung | edith.co
$8.6 Billion
Supercell, Maker of Clash of Clans
was acquired by Tencent for $8.6 Billion.
Source: http://www.cnbc.com/2017/03/08/chinas-tech-giants-are-pouring-billions-into-us-start-ups.html

10. CONFIDENTIAL
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Edith Yeung | @edithyeung | edith.co
$798.5 Million
Alibaba invested in Magic Leap
Source: https://www.cbinsights.com/blog/china-investment-us-tech-startups/

11. CONFIDENTIAL
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Edith Yeung | @edithyeung | edith.co
How to Navigate the
China Funding Sea

12. CONFIDENTIAL
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/ Who are the most active early stages Chinese Investors?
Edith Yeung | @edithyeung | edith.coSource: Zero2IPO report
1. Zhen Fund
2. Innovation Works
3. K2VC
4. Legal Star Capital
5. Longling Capital
6. Angel Plus
7. Innovation Angel Funds
8. Ameba Capital
9. Unity Ventures
10. Plum Angel Ventures Capital

13. CONFIDENTIAL
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/ 2017 China Investment & M&A Focus & Predictions
Edith Yeung | @edithyeung | edith.coSource: CBInsights
• Artificial Intelligence
• Machine Learning
• Deep Learning
• Robotics
• Autonomous Car
• FinTech
• Healthcare &
Genomics

14. CONFIDENTIAL
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/ Who are the most active technology/entertainment
acquirers?
Edith Yeung | @edithyeung | edith.coSource: CBInsights
• Alibaba's Ant Financial
acquires MoneyGram for
$880M
• Tencent acquires Supercell for
$8.6B
• HNA Group acquires Ingram
Micro for $6.07B
• Wanda acquires Legendary
Entertainment for $3.5B
• Haier acquires GE Appliance
Business for $5.6B
• Miteno acquires Media.net for
$900M
• Orient Hontai Capital acquires
AppLovin for $1.4B

15. CONFIDENTIAL
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Edith Yeung | @edithyeung | edith.co
7 Questions You Must Ask
Your China Investors

16. CONFIDENTIAL
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/ 1. Do you really need a go-to China market strategy?
Edith Yeung | @edithyeung | edith.co

17. CONFIDENTIAL
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/ 2. Does this investor have true domain knowledge in
China?
Edith Yeung | @edithyeung | edith.co

18. CONFIDENTIAL
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/ 3. Have they previously invested in US startups?
Edith Yeung | @edithyeung | edith.co

19. CONFIDENTIAL
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Edith Yeung | @edithyeung | edith.co
4. Have they previously invested in Chinese startups in
your vertical?

20. CONFIDENTIAL
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/ 5. What is their distribution & hiring strategies for you in
China?
Edith Yeung | @edithyeung | edith.co

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/ 6. What is their decision-making process?
Edith Yeung | @edithyeung | edith.co

22. CONFIDENTIAL
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/ 7. Do they have the US dollar?
Edith Yeung | @edithyeung | edith.co

23. CONFIDENTIAL
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Edith Yeung | @edithyeung | edith.co
China is Calling

24. CONFIDENTIAL
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/ You can find me at:
• Email edith@500startups.com
• Twitter @edithyeung
• Newsletter http://www.edith.co/#newsletter
• Slide https://www.slideshare.net/EdithYeung
Edith Yeung | @edithyeung | edith.co