Sean Xiang, Hermitage Capital’s founder and CEO, photographed at his office in Hong Kong’s Central district on May 25, 2022. Photo: SCMP/Yik Yeung-man
Private equity, spooked by Ant Group IPO suspension, eyes Chinese ‘hard tech’ sector in paradigm shift
- Investors shift from internet companies to sectors such as AI, chips, auto tech, and new energy, in line with China’s focus on social stability and national security
- Some China-focused PE funds are also diversifying into Asean countries
Sean Xiang, Hermitage Capital’s founder and CEO, photographed at his office in Hong Kong’s Central district on May 25, 2022. Photo: SCMP/Yik Yeung-man
