FT: Neil Shen goes it alone in China after Sequoia split

THE FINANCIAL TIMES reports:

As Beijing was bearing down on its technology industry, banning lucrative business models and freezing new foreign listings, Neil Shen stepped up to a podium in the Chinese capital with a message to fellow entrepreneurs: align your companies with the country’s direction.

Sequoia China’s billionaire founder implied his venture capital group was already in tune: 80 per cent of the companies it has invested in recently were in “artificial intelligence, advanced manufacturing and other hard tech fields”, ...