China startups: tougher to get capital - Andy Mok

Andy Mok

Getting funding has just gotten a bit harder for China´s booming startup scene, says VC Andy Mok in Bloomberg. “There’s a greater emphasis on revenue and profitability among startups that they are focusing much more on top line and cost control.”

Bloomberg:

For now, the pain should be confined mostly to smaller startups. China’s home to the largest herd of unicorns or billion-dollar startups outside of the U.S., with at least 79 private companies worth more than $1 billion, according to Shanghai-based IResearch. The U.S. in comparison has about 96, according to CB Insights. 

“There’s a greater emphasis on revenue and profitability among startups that they are focusing much more on top line and cost control,” said Andy Mok, managing director of Beijing-based headhunting firm Red Pagoda Resources LLC. “It’s shifted from growth at any cost to more scrutiny of traditional business metrics and they’re looking much more carefully at headcount.”

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