What does it take to launch a VC fund in China? What are the differences between RMB funds and USD funds? And how can VC funds exit themselves?
We invited Chris Lerner, Managing Partner at MSA Capital, to join us to share his experience on starting and running a successful venture fund, and also how MSA Capital has supported startups to grow and expand to different markets. Founded in 2014, MSA Capital is an independent global private equity and venture capital firm with over $1.5 billion assets under management. Most notably, 60% of its 26 early stage investments have become super unicorns.
We also extended the conversation from a “cross-border” perspective by discussing about the potential opportunities for foreign startups and foreign VCs to enter China.
Show Notes:
2:48 Introduction to MSA Capital
5:22 What has kept Chris Lerner living in China
9:12 What makes the Chinese VC industry different
13:10 The DNA of Chinese corporate VCs (CVCs)
15:13 Conflicts happen when startups work with different CVCs
17:38 What takes to launch a VC fund
19:57 Who is investing in VC funds in China
24:40 The difference between RMB funds and USD funds
27:44 How VC funds can exit themselves in China
31:38 The trends of consolidation for financial returns
33:18 What support MSA Capital provides to startups
38:13 Potential opportunities for foreign startups to enter China
41:18 The opportunity of foreign VCs to enter China
42:32 How to contact Chris Lerner
Many thanks to our guests Chris Lerner; host Oscar Ramos; producers Eva Shi and Sagar Chaudhary; editor David; organizer Chinaccelerator; and sponsor People Squared. Be sure to check out our website www.chinaccelerator.com
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