Chinese tech unicorns are having a harder time raising money, The Wall Street Journal reports, amid signs investors are growing wary of overhyped valuations.
Notably, there are some signs of anxiety over ride hailing giant Didi Chuxing. A fund managed by Davis Advisors LP this summer marked the value of its Didi stake 7% lower than what it valued the stake last year, according to the report.
And in secondary markets, Didi shares have changed hands at a slight discount to the last round of financing, according to the paper.
But investors have also shown themselves still hungry for big bets in China tech. Exhibit A: news and entertainment aggregator app-maker Bytedance is raising some $3 billion.