Chinese VC’s search for ways to profit from foreign startups

Glory Capital sits in a building overlooking the gleaming glass-and-steel high-rises in Shanghai’s northeast district of Yangpu, home to 14 higher education institutions including top ranked Fudan University and Tongji University.

Founded by Eric Yang and Jerry Bai in 2015, it’s not a typical Chinese venture capital (VC) firm: The partners launched one fund with RMB 250 million ($36 million) for investing in Chinese startups, and a second fund of around $10 million earmarked for Israeli startups that Eric and Jerry are betting have a real shot in China’s hyper competitive tech market.

They boast a small stake in some Israel-based high flyers, some of which have raised tens of millions of dollars from VC funds, such as Innoviz, a developer of LiDAR remote sensing solution for autonomous vehicles, and Intuition Robotics, maker of social companion artificial intelligence for older adults.

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