信中利资本集团（the China Equity Group）董事长兼首席执行官汪潮涌说：“与美国投资人相比，中国投资人并不那么成熟，也没那么愿意承担风险。”总部位于北京的信中利是一家私募公司，目前投资总金额大约30亿美元。“很多投资人不能接受失败的风险，因此外资风投公司仍然处于主导地位。”
嘉宾们在财富全球论坛的“下一波高科技浪潮”分论坛上讨论了中国初创企业面临的机遇和挑战。Red Pagoda Resources公司为初创企业提供咨询服务，公司的首席执行官莫天安表示，每个初生的创业公司都面临着同样的问题：与有政治影响力的高端商界领袖和政府高层之间的关系网络不强。在一个政府高度参与经济活动的经济体中，这是初创企业的重大短板。与更年轻的创业人相比，30多岁的企业家具有更强大的社会资源，因此成功的可能性更大。莫天安说：“他们能找到可以帮上忙的人。”
The "fail your way to success" model has been gospel for Silicon Valley venture capitalists and private-company investors for a long time. But in mainland China, that notion hasn't fully caught on, said a group of influential investors speaking at Fortune's Global Forum in Chengdu, China. That makes it hard for some entrepreneurs to find funding.
"Renminbi investors are not as aggressive and mature as U.S. investors," says Wang Chaoyong, head of the China Equity Group, a Beijing-based private equity firm with some $3 billion in investments. "The concept of taking failure is still a problem, so foreign-funded VCs are still playing the dominant role."
The panel, called "The Next High Tech Wave," talked about the opportunities -- and challenges -- for startups in China. One issue for very young entrepreneurs, said Andy Mok, CEO of Red Pagoda Resources, which consults to startups, is that they are not as well-connected to politically powerful senior business and government leaders. That's a problem in an economy that still has a lot of state involvement. Older entrepreneurs in their 30s, Mok says, are a better bet because of their "social capital." "They know people you can call in favors from."
There also are plenty of positives, however, primarily the utterly massive opportunity in creating businesses aimed at the 760 million mobile users in China alone. Pressed for specific names of investments by moderator Adam Lashinsky, Mok named a few, including Chengdu Pinguo Technology, whose product is 360Camera, an Instagram rival that was the fastest app in the world to reach 100 million users. The government's willingness to subsidize innovation is another plus -- one that means we'll see many new technology breakthroughs in China in the years to come.