Chinese consumers are becoming ever increasingly affluent. In 2015, 77 Chinese cities’ per capita GDP reached $10,000, and for top cities like Shenzhen, the per capita GDP was as high as $26,071. LB Investment, with their investment strategy as “TMT + Consumption Upgrade”, says it is more accurate to compare per capita GDP city by city, rather than country by country. When comparing city by city, some consumers in Chinese cities are ready to afford up-to-date lifestyles as those in advanced countries.

Among more than 500 foreign venture management firms in China, LB Investment ranks 36th on the list. LB Investment has $1 billion AUM (Assets Under Management) and LB Investment China manages about $150 million.

Not many know that LB Investment stems from LG Corp, owned by South Korea’s 4th largest conglomerate family, the Koo’s. Brian Koo (Bonchun Koo), the grandson of South Korean multinational corporate LG Corp founder Koo In-hwoi, founded LB Investment in 1996. LB Investment China was later established in Shanghai in 2007. Besides the legacy VC funds, LB Investment also manages Private Equity growth stage venture funds.

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Eva Yoo

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com