Dealmaking a bit nuts, markets to be volatile: Airbnb backer Hans Tung

The Silicon Valley-based investor says venture investing now is as aggressive as during the dotcom days, and yet he remains undeterred in his hunt for great companies

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By 

Aditi Shrivastava

Madhav Chanchani

March 08, 2021

11 Min Read

Hans Tung, Silicon Valley-based managing partner at GGV Capital, shouldn’t have reason to complain about the ongoing bull cycle in the capital markets. A few high-profile companies in his portfolio—home-sharing platform Airbnb, fintech company Affirm, and online fashion marketplace Poshmark—have made stellar trading debuts in recent months. Overall, 11 companies in GGV’s portfolio have filed for an IPO since September 2019.

Yet, in a video interview with The CapTable, Tung says venture investors in the US are throwing caution to the wind with their aggressive investing. He also warned that the capital markets will be volatile this year, especially for tech stocks. On Indian internet companies seeking to list in the US, Tung’s advice is they should opt for the traditional IPO process over the faster but controversial SPAC (special purpose acquisition company) route.

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