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The New Wave of Chinese Investors in Silicon Valley

Guo Wei, 29, arrives for a meeting at a Union Square coffee shop in San Francisco dressed in an unassuming plain T-shirt, loose sweatpants and a backpack. The only nod to the fact that he’s a minor celebrity in tech circles back home in China is a pair of dark sunglasses.

Yet, he’s among a new wave of young upstart Chinese investors transforming venture capital in Silicon Valley. They join more established players such as AngelList’s $400 million fund anchored by large Chinese private equity firm CSC Group and super-angel Xu Xiaoping’s ZhenFund.

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That’s not to say all Chinese investors have such good reputations. Some talk about venture tourism, which could hurt the Valley with too much easy money. “There’s a lot of money that wants to come from China to invest in U.S. startups—which is great for us,” said Adora Cheung, a partner at Y Combinator. She has not worked with Mr. Guo. “But these people don’t know where to put their money. It would be great if you can have someone trusted on both sides of the world.”

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“The number of Chinese investors showing up in YC demo day is about 20% higher than five years ago.”