This article is part of a series about the new cross-border investors wielding influence in Silicon Valley and China.
In San Francisco’s financial district, venture capitalist Matt Cheng sat in the office cafeteria of video-streaming company Twitch last month. Over lunch, Mr. Cheng explained to the Amazon-owned firm’s executive how Chinese shopping apps use live videos to promote their merchandise. It was one of his seven appointments that day. That night in a car to the airport, Mr. Cheng got on the phone with an education startup founder in China to give fundraising tips.
His day typifies the pace of a new breed of venture capitalists making a mark in Silicon Valley. Cross-border investing used to be about American VCs going to Europe or China. But now, China-based investors are crossing the borders to invest in the U.S. and elsewhere.