VCs target new media in China

We posted a while back on the apparent imbalance of VC funds flowing into India and China in our industry. Thanks, then to PanAsianBiz.com for pointing us towards a Xinhua piece on a report which is predicting $2.5 billion in VC funding in China this year. What particularly caught our eye was the fact that the report, produced by Zero2IPO, earmarks "new media" as one of the four key areas likely to receive the most VC attention. The others were IT, telecoms and semiconductors.

Zero2IPO is based in Beijing and describes itself as a leading service provider to China's venture capital and private equity industries. It has organised 12 China Venture Capital Forums and 50 "Z-Club" events and was founded by Gavin Ni in 1999. Interesting company.