Month: February 2019

Two of the top five most active corporate VCs last year were Chinese

Two Chinese firms ranked in the top five corporate venture capital groups last year, in terms of number of companies in which they invested, according to a new report from CB Insights. Corporate venture capital refers to a type of funding where corporations use investment arms to buy into start-ups. For example, Microsoft invests into enterprise software start-ups through M12, its corporate venture capital subsidiary. CB Insights’ “2018 Global CVC Report” said such firms participated in $52.95 b

Two Chinese firms ranked in the top five corporate venture capital groups last year, in terms of number of companies in which they invested, according to a new report from CB Insights. Corporate venture capital refers to a type of funding where corporations use investment arms to buy into start-ups. For example, Microsoft invests into enterprise software start-ups through M12, its corporate venture capital subsidiary. CB Insights’ “2018 Global CVC Report” said such firms participated in $52.95 b
Two of the top five most active corporate VCs last year were Chinese Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: saheli roy choudhury, str, afp, getty images
Keywords: news, cnbc, companies, startups, ranked, firms, active, chinese, capital, report, investment, corporate, legend, funding, vcs, venture, ventures

Two of the top five most active corporate VCs last year were Chinese

Two Chinese firms ranked in the top five corporate venture capital groups last year, in terms of number of companies in which they invested, according to a new report from CB Insights.

That was despite the ongoing trade tensions between Washington and Beijing as well as worries over an economic slowdown in China.

Corporate venture capital refers to a type of funding where corporations use investment arms to buy into start-ups. For example, Microsoft invests into enterprise software start-ups through M12, its corporate venture capital subsidiary.

CB Insights’ “2018 Global CVC Report” said such firms participated in $52.95 billion worth of funding across 2,740 deals last year. To be clear, those numbers do not include strategic investments that companies made directly into start-ups.

Chinese internet giant Baidu’s investment unit, Baidu Ventures, and Legend Capital, a subsidiary of Chinese conglomerate Legend Holdings, ranked in the top five behind Google Ventures, Salesforce Ventures and Intel Capital.

Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: saheli roy choudhury, str, afp, getty images
Keywords: news, cnbc, companies, startups, ranked, firms, active, chinese, capital, report, investment, corporate, legend, funding, vcs, venture, ventures

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Global investors are coming back to Chinese markets, says JP Morgan executive

Investors are expecting a bottoming out for Asian economies in the next few months, boosting recent gains in regional markets including those in China, a J.P. Morgan Chase executive said Tuesday. Equity market investors are looking ahead for more positive news, said Ulrich, with Beijing’s stimulus measures set to have a more pronounced impact on corporate earnings in May and June. Global institutional investors are looking at fast-growth industries such as technology, new energy vehicles, artifi

Investors are expecting a bottoming out for Asian economies in the next few months, boosting recent gains in regional markets including those in China, a J.P. Morgan Chase executive said Tuesday. Equity market investors are looking ahead for more positive news, said Ulrich, with Beijing’s stimulus measures set to have a more pronounced impact on corporate earnings in May and June. Global institutional investors are looking at fast-growth industries such as technology, new energy vehicles, artifi
Global investors are coming back to Chinese markets, says JP Morgan executive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: huileng tan, wang gang, visual china group, getty images
Keywords: news, cnbc, companies, coming, measures, jp, chinese, months, investment, investors, slowdown, looking, executive, global, market, ulrich, markets, morgan

Global investors are coming back to Chinese markets, says JP Morgan executive

Investors are expecting a bottoming out for Asian economies in the next few months, boosting recent gains in regional markets including those in China, a J.P. Morgan Chase executive said Tuesday.

That comes as Beijing recently took policy measures — such as fast-tracking infrastructure projects and cutting taxes and banks’ reserve requirements — to boost growth.

“Even though, so far, the results have not been extremely apparent, but in the next several months I think these measures will begin to bear fruit,” said Jing Ulrich, managing director and vice chairman for Asia Pacific at J.P. Morgan Chase.

Equity market investors are looking ahead for more positive news, said Ulrich, with Beijing’s stimulus measures set to have a more pronounced impact on corporate earnings in May and June.

Indeed, many global investors who have been underweight on China — due to a host of concerns including high debt levels, slowing growth and bond defaults — are now coming back into the market because of its lower valuations compared to a few years ago, Ulrich told CNBC.

The Shanghai composite has jumped more than 10 percent so far in 2019.

Global institutional investors are looking at fast-growth industries such as technology, new energy vehicles, artificial intelligence and the internet, said Ulrich.

“These areas are very resilient despite a slowdown in the general economy,” she said.

Also driving investment is personal consumption growing at a “very healthy” clip even amid a slowdown in Chinese GDP growth, she said.

Ulrich tipped areas such as health care and education as standout industries for investment even in the current state of the global economy.

“Technology, consumption will be performing much better compared to the old economy counterparts where you have over-capacity and over-leverage,” she said.

—Reuters contributed to this report.

Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: huileng tan, wang gang, visual china group, getty images
Keywords: news, cnbc, companies, coming, measures, jp, chinese, months, investment, investors, slowdown, looking, executive, global, market, ulrich, markets, morgan

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Europe’s largest bank, HSBC, misses expectations in 2018 earnings

HSBC, Europe’s largest bank, on Tuesday delivered a financial report card that missed expectations on several fronts following a challenging fourth-quarter when markets globally experienced a sharp sell-off and reduced activity. The bank’s reported pre-tax profit for the whole of 2018 was $19.89 billion, 15.9 percent higher than the previous year. Reported revenue last year was $53.78 billion, 4.5 percent higher than 2017. The lower-than-expected revenue growth also resulted in HSBC missing its

HSBC, Europe’s largest bank, on Tuesday delivered a financial report card that missed expectations on several fronts following a challenging fourth-quarter when markets globally experienced a sharp sell-off and reduced activity. The bank’s reported pre-tax profit for the whole of 2018 was $19.89 billion, 15.9 percent higher than the previous year. Reported revenue last year was $53.78 billion, 4.5 percent higher than 2017. The lower-than-expected revenue growth also resulted in HSBC missing its
Europe’s largest bank, HSBC, misses expectations in 2018 earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: yen nee lee, matt cardy, getty images
Keywords: news, cnbc, companies, largest, ratio, expectations, 2018, jaws, reported, europes, misses, share, revenue, bank, higher, earnings, hsbc, billion, positive

Europe's largest bank, HSBC, misses expectations in 2018 earnings

HSBC, Europe’s largest bank, on Tuesday delivered a financial report card that missed expectations on several fronts following a challenging fourth-quarter when markets globally experienced a sharp sell-off and reduced activity.

The bank’s reported pre-tax profit for the whole of 2018 was $19.89 billion, 15.9 percent higher than the previous year. Reported revenue last year was $53.78 billion, 4.5 percent higher than 2017.

The London-headquartered bank was expected to record a 23.8 percent jump in reported pre-tax profit to $21.26 billion for 2018, according to forecasts compiled by Refinitiv. Revenue for the year was projected to be 6.28 percent higher at $54.674 billion, data by Refinitiv showed.

HSBC said it will pay a full-year dividend of $0.51 per share, but did not announce a new share buy-back plan as some analysts had hoped.

The bank’s Hong Kong-listed shares fell by around 2 percent after the lunch break.

Other financial metrics that analysts and investors were watching:

Net interest margin, a measure of lending profitability, was 1.66 percent as of Dec. 31, 2018. That’s higher than the 1.63 percent seen a year ago.

Earnings per share for 2018 was $0.63, higher than $0.48 a year ago.

Common equity tier 1 ratio — a proportion of the bank’s core capital to assets — as at Dec. 31 last year was 14 percent, compared to 14.5 percent at end-2017.

Despite missing forecasts, HSBC Group Chief Financial Officer Ewen Stevenson said he was “very pleased” with the latest set of results. He added that the difficult trading environment at the end of 2018 resulted in lower fourth-quarter revenue compared to the previous three months.

Stevenson was referring to the sharp sell-off in global marketsin the fourth-quarter last year, which led to trading revenue losses in many banking groups.

“We were very much hit by adverse markets in November and December, which meant that we saw revenue drop by about a billion dollars relative to [the third-quarter],” Stevenson told CNBC’s Joumanna Bercetche on Tuesday.

The lower-than-expected revenue growth also resulted in HSBC missing its positive “jaws” target for 2018. The jaws ratio is positive when revenue grows faster than costs. HSBC’s jaws for the year was minus 1.2 percent.

“We were very disappointed to have missed that jaws target for the year,” the CFO said, adding that the bank will continue to work toward achieving a positive jaws ratio in 2019.

Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: yen nee lee, matt cardy, getty images
Keywords: news, cnbc, companies, largest, ratio, expectations, 2018, jaws, reported, europes, misses, share, revenue, bank, higher, earnings, hsbc, billion, positive

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Global miner BHP Group first-half profit falls 8% as copper earnings slump

The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally. Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Macken

The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally. Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Macken
Global miner BHP Group first-half profit falls 8% as copper earnings slump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: cnbccom with reuters, peter hendrie, photographers choice, getty images
Keywords: news, cnbc, companies, number, miner, slump, firsthalf, mackenzie, copper, line, group, bhp, profit, earnings, billion, global, fell, falls, tax

Global miner BHP Group first-half profit falls 8% as copper earnings slump

The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally.

Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. That missed consensus estimates compiled by Vuma Financial of $4.209 billion.

“Profit is often the most difficult thing for people to forecast. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Mackenzie, CEO of BHP Group, told CNBC’s Karen Tso on Tuesday.

“I would say, apart from earnings, this in line or slightly better in line than what peopled forecasted,” Mackenzie said.

Underlying profit is watched by analysts and investors as a measure of the company’s performance exclusive of one-time gains and losses.

Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: cnbccom with reuters, peter hendrie, photographers choice, getty images
Keywords: news, cnbc, companies, number, miner, slump, firsthalf, mackenzie, copper, line, group, bhp, profit, earnings, billion, global, fell, falls, tax

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Bali’s new Starbucks flagship store has its own coffee farm and valet parking

Newly opened in January, the store aims to immerse its guests in a journey of discovering coffee while paying homage to one of the company’s biggest growing coffee regions, Sumatra. “We wanted to make sure that everyone visiting our store would have an opportunity — and even feel compelled — to learn more about coffee,” Scott Keller, senior vice president of store development and design in Asia Pacific, at Starbucks told CNBC. The store includes a nursery, greenhouse and outdoor area where custo

Newly opened in January, the store aims to immerse its guests in a journey of discovering coffee while paying homage to one of the company’s biggest growing coffee regions, Sumatra. “We wanted to make sure that everyone visiting our store would have an opportunity — and even feel compelled — to learn more about coffee,” Scott Keller, senior vice president of store development and design in Asia Pacific, at Starbucks told CNBC. The store includes a nursery, greenhouse and outdoor area where custo
Bali’s new Starbucks flagship store has its own coffee farm and valet parking Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: uptin saiidi
Keywords: news, cnbc, companies, sure, flagship, balis, starbucks, learn, vice, visiting, store, valet, told, farm, parking, ways, coffee, customers, wanted

Bali's new Starbucks flagship store has its own coffee farm and valet parking

Newly opened in January, the store aims to immerse its guests in a journey of discovering coffee while paying homage to one of the company’s biggest growing coffee regions, Sumatra.

“We wanted to make sure that everyone visiting our store would have an opportunity — and even feel compelled — to learn more about coffee,” Scott Keller, senior vice president of store development and design in Asia Pacific, at Starbucks told CNBC. “We considered different ways to engage our customers in that interactive journey.”

The store includes a nursery, greenhouse and outdoor area where customers can rake coffee beans. It also features digital screens which run interviews with some of its coffee farmers in the region.

Starbucks Reserve Dewata also offers multiple classes each day where customers can pay to learn more about coffee.

Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: uptin saiidi
Keywords: news, cnbc, companies, sure, flagship, balis, starbucks, learn, vice, visiting, store, valet, told, farm, parking, ways, coffee, customers, wanted

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New round of US-China trade talks to kick off in Washington on Tuesday

A new round of talks between the United States and China to resolve their trade war will take place in Washington on Tuesday, with follow-up sessions at a higher level later in the week, the White House said on Monday. The talks follow a round of negotiations that ended last week in Beijing without a deal but which officials said had generated progress on contentious issues between the two trading partners. The talks are aimed at “achieving needed structural changes in China that affect trade be

A new round of talks between the United States and China to resolve their trade war will take place in Washington on Tuesday, with follow-up sessions at a higher level later in the week, the White House said on Monday. The talks follow a round of negotiations that ended last week in Beijing without a deal but which officials said had generated progress on contentious issues between the two trading partners. The talks are aimed at “achieving needed structural changes in China that affect trade be
New round of US-China trade talks to kick off in Washington on Tuesday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: jason lee, afp, getty images
Keywords: news, cnbc, companies, trade, week, states, round, white, kick, uschina, china, washington, house, talks, united

New round of US-China trade talks to kick off in Washington on Tuesday

A new round of talks between the United States and China to resolve their trade war will take place in Washington on Tuesday, with follow-up sessions at a higher level later in the week, the White House said on Monday.

The talks follow a round of negotiations that ended last week in Beijing without a deal but which officials said had generated progress on contentious issues between the two trading partners.

The talks are aimed at “achieving needed structural changes in China that affect trade between the United States and China. The two sides will also discuss China’s pledge to purchase a substantial amount of goods and services from the United States,” the White House said in a statement.

Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: jason lee, afp, getty images
Keywords: news, cnbc, companies, trade, week, states, round, white, kick, uschina, china, washington, house, talks, united

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More and more signs point to slower spending in China. Analysts say not to worry

Plummeting car sales, sluggish retail sales data, a cooling housing market — those are all stoking fears of weakening consumer spending in China amid its slowing economy. But analysts say they’re not concerned, and expect Chinese shoppers to keep spending. On Monday, China’s top auto industry association reported that the country’s automobile car sales in January fell 15.8 percent from a year earlier to 2.37 million. That marked the seventh straight month of declining sales in the world’s larges

Plummeting car sales, sluggish retail sales data, a cooling housing market — those are all stoking fears of weakening consumer spending in China amid its slowing economy. But analysts say they’re not concerned, and expect Chinese shoppers to keep spending. On Monday, China’s top auto industry association reported that the country’s automobile car sales in January fell 15.8 percent from a year earlier to 2.37 million. That marked the seventh straight month of declining sales in the world’s larges
More and more signs point to slower spending in China. Analysts say not to worry Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: weizhen tan, fred dufour, afp, getty images, -li-gang liu, chief china economist at citigroup
Keywords: news, cnbc, companies, car, signs, slower, point, worlds, analysts, stoking, weakening, say, china, theyre, straight, spendingon, auto, worry, sales, spending

More and more signs point to slower spending in China. Analysts say not to worry

Plummeting car sales, sluggish retail sales data, a cooling housing market — those are all stoking fears of weakening consumer spending in China amid its slowing economy. But analysts say they’re not concerned, and expect Chinese shoppers to keep spending.

On Monday, China’s top auto industry association reported that the country’s automobile car sales in January fell 15.8 percent from a year earlier to 2.37 million. That marked the seventh straight month of declining sales in the world’s largest auto market.

Citigroup’s chief economist of China, Li-gang Liu, said he expects Beijing to announce some new measures to boost consumption, particularly in the auto sector.

Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: weizhen tan, fred dufour, afp, getty images, -li-gang liu, chief china economist at citigroup
Keywords: news, cnbc, companies, car, signs, slower, point, worlds, analysts, stoking, weakening, say, china, theyre, straight, spendingon, auto, worry, sales, spending

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US-China trade war: Deal needs enforcement, says Chamber of Commerce

Pledges from Beijing to buy more American goods and fix some economic structural issues are meaningless victories for the U.S. if Donald Trump’s administration doesn’t also create ways to enforce a trade agreement with China, according to a top official from the U.S. Chamber of Commerce. That comes as Chinese negotiators ready for the next round of trade talks, set to begin Tuesday in Washington. “Without enforcement, this deal fails,” he told CNBC’s Eunice Yoon in Beijing. Enforcement mechanism

Pledges from Beijing to buy more American goods and fix some economic structural issues are meaningless victories for the U.S. if Donald Trump’s administration doesn’t also create ways to enforce a trade agreement with China, according to a top official from the U.S. Chamber of Commerce. That comes as Chinese negotiators ready for the next round of trade talks, set to begin Tuesday in Washington. “Without enforcement, this deal fails,” he told CNBC’s Eunice Yoon in Beijing. Enforcement mechanism
US-China trade war: Deal needs enforcement, says Chamber of Commerce Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: huileng tan, mark schiefelbein, pool
Keywords: news, cnbc, companies, trade, tariffs, enforcement, brilliant, war, commerce, beijing, needs, uschina, deal, china, according, need, chamber, trumps

US-China trade war: Deal needs enforcement, says Chamber of Commerce

Pledges from Beijing to buy more American goods and fix some economic structural issues are meaningless victories for the U.S. if Donald Trump’s administration doesn’t also create ways to enforce a trade agreement with China, according to a top official from the U.S. Chamber of Commerce.

That comes as Chinese negotiators ready for the next round of trade talks, set to begin Tuesday in Washington. So far, reports indicate, the two countries have found common ground on China decreasing its trade surplus with the U.S. through more purchases, but sticking points remain on issues such as intellectual property theft and the subsidies Beijing gives to its domestic firms.

Still, even if Trump’s team can realize its goals on those fronts, it will all come down to whether both countries actually live up to their commitments, according to Myron Brilliant, executive vice president and head of international affairs at the U.S. Chamber of Commerce.

“Without enforcement, this deal fails,” he told CNBC’s Eunice Yoon in Beijing. “Implementation and enforcement are going to be two key elements — so you need to have implementation, you need to have follow-through, but you need to have enforcement mechanisms that will ensure that both sides have trust that this deal is sustaining and verifiable.”

Enforcement mechanisms could include a “snapback” in tariffs if China doesn’t live up to the terms of the deal, he said. Another option, according to Brilliant, would be for the U.S. to “delay the reduction of tariffs being reduced from 10 percent down to zero” contingent on Beijing’s adherence to the agreement.

Such measures are unlikely to be well received by the Chinese negotiators, and multiple media reports indicate that remains one of the biggest sticking points in the ongoing discussion. Still, Brilliant emphasized that the business community is hoping some sort of agreement will come together.

Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: huileng tan, mark schiefelbein, pool
Keywords: news, cnbc, companies, trade, tariffs, enforcement, brilliant, war, commerce, beijing, needs, uschina, deal, china, according, need, chamber, trumps

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A real Labour split isn’t automatically good for the pound

Investors predicting a sterling rally if there’s a full-blown split in the U.K.’s opposition party are likely to be sorely mistaken. The U.K.’s Labour party has leaned increasingly to the left since veteran politician Jeremy Corbyn took the reins in 2015. Many currency experts have warned on his policies, saying they fear a Labour government would be more negative for sterling than any disastrous Brexit outcome. Seven Labour lawmakers (out of 256) split from the party on Monday citing its direct

Investors predicting a sterling rally if there’s a full-blown split in the U.K.’s opposition party are likely to be sorely mistaken. The U.K.’s Labour party has leaned increasingly to the left since veteran politician Jeremy Corbyn took the reins in 2015. Many currency experts have warned on his policies, saying they fear a Labour government would be more negative for sterling than any disastrous Brexit outcome. Seven Labour lawmakers (out of 256) split from the party on Monday citing its direct
A real Labour split isn’t automatically good for the pound Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: matt clinch, jeff j mitchell, getty images
Keywords: news, cnbc, companies, automatically, gbp, real, labour, split, isnt, brexit, pound, election, sterling, snap, mean, party, good, uks

A real Labour split isn't automatically good for the pound

Investors predicting a sterling rally if there’s a full-blown split in the U.K.’s opposition party are likely to be sorely mistaken.

The U.K.’s Labour party has leaned increasingly to the left since veteran politician Jeremy Corbyn took the reins in 2015. Many currency experts have warned on his policies, saying they fear a Labour government would be more negative for sterling than any disastrous Brexit outcome.

Seven Labour lawmakers (out of 256) split from the party on Monday citing its direction on Brexit, as well as a failure to address anti-Semitism in its ranks. There is now natural speculation that more could follow, ripping a gaping hole in the U.K.’s second-largest party.

While this might diminish Corbyn’s chances of being prime minister, a sterling surge is not guaranteed.

“Perhaps at the margin you could argue it’s GBP positive … But a Labour split would not necessarily mean that a single party has a chance of forming a stable government in the event of a snap election, and that is also a factor GBP bulls need to be wary of,” Stephen Gallo, the European head of foreign exchange strategy at BMO Capital Markets, told CNBC via email.

Gallo’s hypothetical argument is that a snap election this year — if the Brexit negotiations are indeed prolonged — could also mean a split in the Conservative Party with its own Brexit rebels showing frustration at the current management.

Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: matt clinch, jeff j mitchell, getty images
Keywords: news, cnbc, companies, automatically, gbp, real, labour, split, isnt, brexit, pound, election, sterling, snap, mean, party, good, uks

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Two of the top five most active corporate VCs last year were Chinese

Two Chinese firms ranked in the top five corporate venture capital groups last year, in terms of number of companies in which they invested, according to a new report from CB Insights. Corporate venture capital refers to a type of funding where corporations use investment arms to buy into start-ups. For example, Microsoft invests into enterprise software start-ups through M12, its corporate venture capital subsidiary. CB Insights’ “2018 Global CVC Report” said such firms participated in $52.95 b

Two Chinese firms ranked in the top five corporate venture capital groups last year, in terms of number of companies in which they invested, according to a new report from CB Insights. Corporate venture capital refers to a type of funding where corporations use investment arms to buy into start-ups. For example, Microsoft invests into enterprise software start-ups through M12, its corporate venture capital subsidiary. CB Insights’ “2018 Global CVC Report” said such firms participated in $52.95 b
Two of the top five most active corporate VCs last year were Chinese Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: saheli roy choudhury, str, afp, getty images
Keywords: news, cnbc, companies, startups, ranked, firms, active, chinese, capital, report, investment, corporate, legend, funding, vcs, venture, ventures

Two of the top five most active corporate VCs last year were Chinese

Two Chinese firms ranked in the top five corporate venture capital groups last year, in terms of number of companies in which they invested, according to a new report from CB Insights.

That was despite the ongoing trade tensions between Washington and Beijing as well as worries over an economic slowdown in China.

Corporate venture capital refers to a type of funding where corporations use investment arms to buy into start-ups. For example, Microsoft invests into enterprise software start-ups through M12, its corporate venture capital subsidiary.

CB Insights’ “2018 Global CVC Report” said such firms participated in $52.95 billion worth of funding across 2,740 deals last year. To be clear, those numbers do not include strategic investments that companies made directly into start-ups.

Chinese internet giant Baidu’s investment unit, Baidu Ventures, and Legend Capital, a subsidiary of Chinese conglomerate Legend Holdings, ranked in the top five behind Google Ventures, Salesforce Ventures and Intel Capital.

Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: saheli roy choudhury, str, afp, getty images
Keywords: news, cnbc, companies, startups, ranked, firms, active, chinese, capital, report, investment, corporate, legend, funding, vcs, venture, ventures

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