Google Capital in debut China VC investment
Google's discomfort at the growing level of censorship imposed on US internet players by the Chinese authorities after 2008 saw the company withdraw from the M&A scene. There were no deals at all until last week, when Google Capital – a $300 million growth-stage VC fund launched earlier this year – made its first foray into China.
The lucky recipient was Suzhou-based optical transceiver manufacturer InnoLight Technology. Google Capital co-led a $38 million Series C round for the company alongside Lightspeed China Partners. "We...