China dealscape in 2023: Investors go slow amid geopolitical tensions, AI keeps hopes afloat

After a year of continued valuation corrections across almost every industry, venture capitalist Ian Goh, who previously focused on mostly pre-revenue startups from angel to Series pre-A stage, found himself getting exposed to the pitch decks of companies generating annual revenues of about $10-30 million in a reflection of how times have changed in China’s venture market.