Anybody who believes the tech bubble has already been worked through needs to take a look at the venture capital industry in China. Many of the funds were set up during two record years of funds raising in 1999 and 2000 but the collapse in tech valuations has caused many of the venture capitalists to sit on their hands.
In its recent China Venture Capital survey, CMS Cameron McKenna found that management of existing portfolios is the greatest focus. According to the survey, 50% of the respondents said this was their primary focus over the last 12 months.
China's difficult financial and regulatory environment is also felt to have played a role in stifling...
