It is widely acknowledged that China and the U.S. offer two of the richest soils to foster rapid growth in internet startups. In their first endeavors to tap China, the U.S. VCs usually split their capital into three parts for Taiwan, Hong Kong and the Chinese mainland. In most cases, the Chinese mainland is the place that generates the best results. Cai Wensheng, aka Mike Cai, a season angel investor in China, shared this opinion with us at Asia Beat Xiamen on March 17.

If you are interested in China’s startup scene, you must have heard of Mike Cai, who was known for his shrewdness as an angel investor. After making his first fortune from a domain name investment, Cai set up his own startups from scratch. One of his most successful endeavors is web directory 265.com, a clone of Hao123.com which was acquired by Chinese search giant Baidu in 2004. Gradually the young entrepreneur turned to a renowned angel investor. His portfolio companies include Chinese hit services Meitu (photo-centered startup), Baofeng (video player developer and video content provider), CNZZ (online data service), 58.com (classified site), Feiyu Technology (mobile and web game developer) and Falshget Downloads.

At the Asia Beat conference this year, the legendary angel investor shared with us some of his insights on entrepreneurship and investment in China.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.