Chinese investors hoping to put their money in US tech startups have been hitting roadblocks lately, with tougher scrutiny from US regulators scuttling deals.
Unfazed by this change, which was brought on in part by a new administration focused on US protectionism, Chinese investors are putting their money in Israeli companies instead, according to a Thursday report from Reuters.
Last year, Chinese investment in Israel surged tenfold to $16.5 billion, a record, with money going to Israeli internet, cybersecurity and medical device companies. In contrast, Chinese investors scrapped a record $26.3 billion in previously announced US deals, the report said.
China-based TV maker TCL, for instance, told Reuters that it froze one deal for a US company because of the appointment of President Donald Trump.
Correction, 9:46 a.m. PT: Removes a reference to LeEco, which pulled out of its deal with Vizio because of Chinese regulatory headwinds.