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Increasingly Shut Out of the U.S., China’s Venture Capital Firms Look Further Afield in Africa For New Investment Opportunities

Kenya-based Lori Systems closed a Series A round that included investments by Chinese venture capital firms Hillhouse Partners and Crystal Stream Capital. Photo via Lori Systems.

Amid worsening U.S.-China relations, Chinese venture capital investments in the United States have fallen to a four-year low and with their own economy slowing, investors are keen to put that money to work somewhere and some of it is now finding its way to Africa.

Stories began to cross on Friday afternoon that Lori Systems, a mobile-based on-demand trucking logistics services (aka the “Uber of Trucks”) had reportedly closed an initial investment round (Series A) valued at $30 million that included stakes from two Chinese venture capital firms, Hillhouse Capital and Crystal Stream Capital.

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