For entrepreneurs looking for funding their startups this year, they might found the climate is much less forgiving than last year. I remember last summer almost anything can get a decent valuation. But this year, the VCs are much more cautious.

What are on the VCs’ minds these days? To find out, interested parties might like to join the event organized by Silicon Dragon next week. It said it has invited all the top VCs in Shanghai, including Steamboat Ventures, Qiming Ventures, GGV Capital, Morningside Ventures and Ceyuan Venture. Fritz Demopoulos, founder of Qunar will also be there, representing Queen’s Road Capital, an angle fund he recently founded.

As representatives of the entrepreneurs, David Li of YY and Feng Hong of Xiaomi Technology will also join the discussion. I guess a lot of people will be interested to know how Xiaomi fetched a US$4billion valuation, under current market condition.

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Sherman So

Author of Red Wired: China's Internet Revolution, the first book to completely survey the nature of China's internet. (http://redwiredrevolution.com/) She previously was the lead China technology reporter...