Bostonians Take China
People love and hate IDG overlord Patrick McGovern, but few can argue that he gets a lot of things right. BusinessWeek gets the story about how McGovern’s VC arm was one of the first to set up shop in China in the early 90’s. “It has earned a 42% internal rate of return on the $170 million it has put into China since its founding. Even better, its early entry and active support of Chinese entrepreneurs has given it an enviable reputation as the place to go to get financing for a tech startup. As a result, IDG has first crack at many deals in what is becoming one of the world’s hottest markets.” As with most coverage of IDG, BusinessWeek notes the potential conflict of interest faced by IDG publications when covering IDG portfolio companies.
View – IDG Ventures
Read – Mining the Middle Kingdom (BusinessWeek)