Shenzhen
深圳
Shenzhen is a major Chinese city framed in elsewhere's corpus as a bellwether for domestic venture capital policy. In late 2024 it drew attention for being the first jurisdiction to formally propose "bold capital" (大胆资本), building on its earlier "patient capital" initiative — a move aimed at loosening return-on-investment requirements and introducing fault-tolerance mechanisms for state-backed investors . The city is also cited as a case study in how venture capital can drive regional economic growth through innovation diffusion, with economist Adam Tooze pointing to Shenzhen as an example of VC indirectly spurring macroeconomic expansion . Beyond policy, Shenzhen functions as a hub where VC firms operate: 5Y Capital maintains an office there alongside Beijing, Shanghai and Hong Kong , and it is one of the cities where Dingdong Maicai ran front-warehouse operations as of early 2020 .
AI-generated — may contain errors, please verify.
Coverage
Will the Primary Market Get Better? 9 People Talk About Some Real Problems
Difficult exits, difficult fundraising, and state capital's fault-tolerance mechanisms.
A Conversation with Adam Tooze: How Venture Capital Reached Its Present Moment Through the Eyes of a Macroeconomist
Crises in this era tend to compound, yet remedies remain scarce.
Dingdong Maicai's Liang Changlin: We Oppose Gimmicks and Tricks, We Do the Hard and Unsexy Things | Gaorong Ventures Share
Dingdong Maicai's Four Non-Consensus Beliefs: Retention Is King, Efficiency Is Life, Exponential Thinking, and the Seed Theory.
