Haiyin Capital, a Beijing, China-based venture capital firm, and the National Council of Entrepreneurial Tech Transfer (NCET2), a Washington, D.C.-based association of entrepreneurial students and university startup officers, have teamed up to form a joint venture to provide Chinese venture funding to startups formed at American universities.
The American-Chinese University Growth Fund will provide at least $1 billion of funding from Chinese investors to American university startups over the next decade.
Led by Tony Stanco, executive director, NCET2 produces an initiative called the “University Startups Demo Day” where American universities submit startups they create based on the $37 billion of university research funded annually by the federal government. Every six months, 200 of those submitted companies are scored by a Corporate Selection Committee consisting of a rotating group of Fortune 500 member companies to select the 40 “Best University Startups” with industry alignment for presentation at the Demo Day. The next University Startups Conference and Demo Day is in Washington, D.C. on April 18-19, 2017.
The American-Chinese University Growth Fund will be the sole source syndicator of venture capital from China to invest in these startups alongside American venture capital firms.
To ensure that the deals are strictly for financial returns and to protect U.S. strategic technologies and assets, NCET2 will work closely with the Committee on Foreign Investments in the U.S.(CFIUS), Congress, the White House and the Department of Defense to clear each transaction.
Led by Yuquan Wang, Founding Partner, Haiyin Capital actively invests worldwide in technology teams whose innovations are poised for global impact. The firm has invested in more than a dozen hi-tech companies in the US, mostly university spin-offs, including medical devices companies such as Wicab, Cerevast and MC10, robotic companies such as Soft Robotics and Hanson Robotics, and energy companies such as WiTricity and 1366 Tech.