TechCrunch June 13, 2014
CTQuan, the Chinese equity crowdfunding site for startup companies, has raised roughly $4 million in a new round of financing, TechCrunch has learned. The Beijing-based company (and CrunchBase content partner) is similar to AngelList in its offering of investment information and a directory of Chinese startup companies, syndicated investment vehicles (which the company calls dynamic funds), and even its own fund for investments.
The company’s most recent financing, like its previous capital infusions, came from undisclosed angel investors in China. “I tried to stay away from traditional VCs,” says Li. “What we’re targeting is to replace them in early stage funding.”
Investments into CTQuan, and on the CTQuan platform, are all denominated in Renminbi, Li says. That includes investments into the company’s dynamic funds, which differ from AngelList syndicates in some ways.
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