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Reference News reported on July 16 According to the Hong Kong South China Morning Post website on July 14, the founder of Shanghai-based venture capital firm 01 Ventures said that Chinese start-ups with global ambitions remain attractive investment targets.

According to the report, Wu Yunlong, founding managing partner of Zero One Venture Capital, said in an interview that despite various challenges, China's economy will still grow by 5.2% in 2023, contributing about 30% of the global manufacturing value added, which puts Chinese companies in a favorable position for global expansion.

"In recent years, many Chinese companies have gone overseas. They have built factories in places like Vietnam or Mexico, brought automation technology to these countries, and sold their products locally, which is creating huge opportunities for investors like us," he said.

Zero One Ventures, which focuses on robotics, consumer electronics, and B2B products and platforms, plans to invest in about 10 companies in the next two years, he said, adding that the average investment size in each of those companies is expected to be $2 million to $3 million.

Wu Yunlong said that low valuations, coupled with cautious global investors, are creating a "buyer's market" for fund managers. "Globally, venture capital has raised too much money in the past few years. But now, there is no longer any investment that ignores fundamentals for the sake of growth, which creates excellent buying and investment opportunities for us."

The report said that Zero One Ventures was originally mainly a backer of early-stage companies that have not yet achieved revenue, but now it is also increasingly investing in companies that can generate stable cash flow. Wu Yunlong said that the company's current investments cover Pre-A round to B round of financing.

He said: "You must have the courage to be a contrarian." (Compiled by Feng Xue)

On July 5, at the 2024 World Artificial Intelligence Conference, an artificial intelligence company launched a dancing robot called "embodied intelligent entity", which attracted a large number of visitors. (Xinhua News Agency)