PwC
普华永道
PwC (PricewaterhouseCoopers) is a global professional services firm, primarily known as one of the "Big Four" accounting and consulting firms. In the Chinese-language business world, it operates under the name 普华永道 .
The firm appears frequently in the Chinese venture capital ecosystem in several capacities. It serves as a consulting partner to startups—ClickPaaS, for instance, bundles its low-code products with PwC consulting solutions for banking clients . PwC also publishes market research referenced by investors; a FreeS Research piece on the 2024 Two Sessions cited PwC's report showing Chinese M&A deal volume rose 24% year-on-year . In the legal-tech space, Harvey—an OpenAI fund-backed AI legal assistant—counts PwC among its clients alongside law firm Allen & Overy .
PwC has also functioned as a training ground for investment professionals. Multiple Chinese investors in the bundle started their careers there: Daniel Zhang (later Alibaba CEO, now at Primavera Capital) worked at PwC from 1995–2005 before joining Shanda Group ; Harvest Capital founder Feng Zhao spent time at PwC and Deloitte before moving to investing ; consumer investor Yu He began in PwC's M&A advisory practice in 2007, where a bakery chain deal steered him toward consumer sector investing . Alibaba strategic investment director Jiang Shanshan also held a senior consulting role at PwC before joining the tech giant .
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Coverage
Consumer investor Yu He waited for two big fish like he was waiting for Godot.
I've stumbled through pitfalls and detours, celebrated victories, and felt the sting of regret.
暗涌Waves·Venture Capital Lens on the Two Sessions: Six Core Topics and Policy Roundup | FreeS Research --- Every March, China's "Two Sessions" — the annual meetings of the National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC) — draw widespread attention. For investors and entrepreneurs, the government work report and policy signals released during this period serve as a critical compass for the year ahead. In this article, the FreeS Research team examines the 2024 Two Sessions through a venture capital lens, identifying six core topics most relevant to the tech and startup ecosystem: **AI and digital economy, hard tech and advanced manufacturing, new energy and carbon neutrality, biotech and healthcare, consumption and domestic circulation,** and **capital markets and fundraising environment.** We also map out the specific policy measures and investment implications for each. --- ## 1. AI and the Digital Economy: From "Development" to "Application" AI was elevated to a new level of urgency at this year's Two Sessions. The government work report explicitly called for **"deepening R&D and application of AI"** and **"launching the 'AI+' initiative"** — a notable shift from previous years' emphasis on "development" and
Hoping this can offer a fresh perspective and some food for thought.
峰瑞资本·The Alibaba investment executive who bet big on Kimi has left, and she sent off her departure with a rock song
"To be part of the wave can't stop."
暗涌Waves·Silicon Valley Observations: Startups, Investment, and Tech Giants — What Changes and What Doesn't in the Generative AI Wave | Yunqi Capital Tech Notes
Where the tide rose, is AI still hot?
云启资本·A Conversation with Feng Zhao of Harvest Capital: Don't Just Stay Inside the Investment World
Written on the heels of two blockbuster IPOs in a row.
暗涌Waves·Exclusive | Daniel Zhang Joins Primavera Capital, Continuing His Unfettered Path in M&A
"Industry consolidators prefer winter."
暗涌Waves·5Y News | ClickPaaS Announces Completion of Tens of Millions of Dollars in B+ Round Funding, Doubling Down on Low-Code Ecosystem Development
Accelerate enterprises' digital transformation.
五源资本·How to Understand the Divergence Between Chinese and American Development Models, and Find China-Based Startup Opportunities? | Li Feng Column
Why "Spring" Remains Elusive for SaaS, and the Root of US-China Startup Differences
峰瑞资本·
