VC in China P2P: Revert to the norm?
China venture capital goes through fads and phases. A business model – perhaps already proven in another market – is rolled out locally. This precipitates a flood of copycats, plunging the market into a period of cutthroat competition. Consolidation follows as those that have managed to achieve scale prevail at the expense of those that have not. VC investors count their victories and defeats.
This dynamic is most apparent in distinct niches, with group-buying the obvious recent example. Early mover Lashou was on course for an IPO in late 2011 only for the wheels to fall off six months later....
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