In fact, the growth of these investments by Asian companies has been dramatic, culminating in a record $157 billion funneled into worldwide venture funding in 2017 alone. analysis by the Wall Street Journal Notably, a considerable portion—40% or $61 billion—originated from Asian investors, dwarfing their contribution from a decade ago and trailing U.S. venture firms' spending by a mere 3%.
Well-known venture capitalists like Andreessen Horowitz and Sequoia Capital now find themselves competing with ICOs and formidable Asian giants such as SoftBank and Tencent.
The competitive landscape is shifting, with Asian venture capitalists gaining access to booming tech companies that used to be the stronghold of U.S. firms, fueled in part by blockchain technology. released a blockchain guide for Chinese government officials.
Asian Markets are Open for Business
Asia has long been a fertile ground for blockchain and crypto innovation. Although China took an initially tough stance, it appears to have softened, with President Xi lauding blockchain as revolutionary.
Asian financiers hunting for opportunities span not just Silicon Valley but also local prospects, like SoftBank's Vision Fund eyeing a $100 million investment in China-based ZhongAn.
SoftBank is apparently looking to expand the use ZhongAn, a pioneer in leveraging blockchain across industries, has partnered with SoftBank, highlighting a joint ambition to harness tech advancements for international reach.
ZhongAn's blockchain initiative for tracking poultry in China aligns with Alibaba's vision to bolster transparency and accountability within the country's vast agricultural networks.
Looking abroad, especially in sectors like insurance and FinTech, ZhongAn's technologies hold promise, with the company's expansion strategically aligning with SoftBank's portfolio. Hong Kong Monetary Authority Previously, external investment entities have also explored deploying Chinese blockchain solutions on a global scale, evidenced by moves to integrate PingAn's trade finance platform.
Major Developments Seem Inevitable
Significant funding flows—exceeding $150 billion—are backing blockchain and other emerging sectors, showcasing Asia's pivotal role in global technological advancements.
Eric Ly, co-founder and former CTO of LinkedIn, recently emphasized Asia's essential role in the burgeoning FinTech sphere.
Acknowledging burgeoning interest and capital, it's clear Asia is not just a hub but a catalyst for future crypto and blockchain milestones.
The momentum seen from Asian investors may pose challenges for U.S.-based venture capitalists seeking to keep pace or tap into local Asian innovations.
Nicholas Say, an Ann Arbor native with extensive international experience, shares insights into future-facing technologies, drawing from his experiences across geographies.
