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Chinese VCs are hounding failed founders to claw back their investments
In the U.S., it’s accepted that most startups fail — and when that happens, VCs (generally) accept their losses and move on. But that’s not the case in
But that’s not the case in China, where VCs are trying to claw back their investments in failed startups by pursuing the personal assets of their founders in court, The Financial Times reports. This is resulting in some Chinese founders owing millions of dollars to their investors and ending up on debtor blacklists, blocking them from booking hotels, taking planes, or leaving China. China’s startups are already struggling amid a government tech crackdown and tense U.S.-China relations, TechCrunch has reported.
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