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Local U.S. Economy Savior Kramlich China-Bound

theodp (442580) writes | more than 6 years ago

The Almighty Buck 0

theodp writes "Just a month ago, VC Dick Kramlich argued that venture capitalists were entitled to their low 15% tax rate (compared to the 35% cap faced by ordinary citizens) because of the benefits and jobs they bring to the local economy. But come January, the WSJ reports Kramlich's local economy will be Shanghai's glitzy Xintiandi district (reg.), where he is moving to drum up new deals for his New Enterprise Associates, which has already sunk $300M in Chinese companies as it joins other U.S. venture firms seeking better returns in fast-expanding economies abroad. During his year-long stay abroad, Kramlich will investigate launching an investment fund denominated in Chinese yuan instead of U.S. dollars, which would allow NEA to more easily take companies public on Chinese stock exchanges."

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