Silicon Valley’s venture capital industry is coming to rely on Asia for the initial public offerings that have historically brought its biggest paydays, to judge by deals from Sequoia Capital, one of the Valley’s most prominent financiers.
The shift to Asia was capped this week with the Nasdaq IPO of Mecox Lane, a Chinese internet retailer, and highlights a dearth of new public tech companies in the US.
It is the seventh IPO by a Chinese company backed by Sequoia in the past 18 months.
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