China’s unicorns tap US$240 billion in private funds amid IPO freeze

China’s recent crackdowns on overseas listings have thrown a wrench in the works of start-ups looking to go public, driving them to pursue investors in Asia’s rapidly growing private capital markets.JPMorgan Chase & Co. estimates the fundraising amount in private capital markets for entrepreneurs in Asia surged to over US$240 billion last year from about US$100 billion in 2017, driven largely by Chinese firms.For years, the private market for stakes in the hottest companies in Silicon Valley…

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