China VCs tell start-ups to focus on sustainability - AVCJ Forum
China VC investors are reminding portfolio companies to pursue profitability rather than sky-high paper valuations as the market continues to rationalize following an explosion of activity in recent years.
"We haven't seen many companies have raise down rounds," James Mi, co-founder of Lightspeed China Partners, an early-stage investor, told the AVCJ Forum in Hong Kong. "But for companies at growth and later...
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