“Risk-averse venture capitalist” might sound like a contradiction in terms, but in Shanghai it’s precisely the sort of financier the city is looking to attract. Starting Feb. 1, the city plans to reimburse venture capitalists for losses up to 6 million yuan ($912,000) per year, incurred investing in the city’s early-stage startups. The policy is intended to accelerate Shanghai's transformation into a science-and-technology hub of “global influence.”
