#595
Exporting Entrepreneurship

Published:

Jun 14, 2025


Author:

Sarah Parsons Wolter

Published:

Jun 14, 2025


Author:

Sarah Parsons Wolter


Share:

As the competition to build businesses in China has reached an all-time high, some would-be moguls take the road less traveled—literally, a dirt road cutting through the copper-stained hills of central Africa. For a growing wave of ambitious, restless Chinese entrepreneurs, their home has become too crowded and too cutthroat - forcing them to pack their bags and take their hustle abroad.

This isn't a story of multinationals or government megaprojects—it’s about the solo acts, the small-time mineral wholesalers, and rogue restaurateurs and hoteliers. They’re not backed by venture capital or state subsidies, but with their own shops, clinics, and burger joints, they’ve created a kind of economic microcosm—a DIY ecosystem that thrives in the cracks of failing infrastructure and opaque governance.

Bloomberg’s account of the growing Chinese community in a once-overlooked Congolese town focuses on an external transformation. With it, the shortcomings of the Congolese government are brought to light, as questions remain whether the necessary capital and education would have allowed their own citizens to be the first movers to capture these opportunities.

What’s striking isn’t just the enterprise, but the exodus from China. When the country’s youth face either grinding competition or the passive rebellion of “lying flat,” others have created a patchwork diaspora of scrappy business builders who’ve decided that if they can’t beat the game at home, they’ll just start a new one abroad.

Portfolio News


Plaid launches request for payment - Plaid now enables instant pay-ins as well as instant payouts via its flexible multi-rail payment platform, Plaid Transfer. The financial data network has added support for real-time pay-ins via Request for Payment (RfP) on the RTP® Network to Instant Payments on Plaid Transfer. RfP enables businesses to request a payment from a customer in real time. Read more

Exporting Entrepreneurship


In Congo, Chinese hustlers seek relief from pressures back home - For ambitious people in China, an economic slowdown and intense competition mean it’s sometimes easier to find success in African countries. Read more

Industry News


Chime opens at $43 in Nasdaq debut after pricing IPO above expected range - Chime raised approximately $700m in new capital in a deal valuing the company at about $11.6b. The offering is the latest sign that the fintech IPO market is opening up after a multi-year freeze brought on by rising interest rates and valuation resets. Recent debuts from eToro and crypto company Circle have rekindled optimism in the sector, with both stocks seeing strong initial pops. Read more

Citi, Carlyle partner up to lend and invest in fintech startups - Citigroup and Carlyle Group are partnering to provide debt and equity financing to growing financial technology firms, targeting the booming asset-backed finance market. The partnership will allow Carlyle and Citi to co-invest in young companies and their financial assets, such as consumer loans, and eventually arrange public asset-backed bonds. Read more

Fund firms court ‘bored’ investors with flurry of exotic ETF launches - Fund firms are rushing to launch products tracking cryptocurrencies, memecoins and digital artwork, betting that retail investor appetite for risky assets will extend to some of the most speculative corners of the investment world. Read more

Payment company Stripe to acquire crypto wallet provider Privy - Privy's technology allows for seamless crypto transactions, eliminating the need for users to create external wallets and link them to their accounts. The acquisition is part of Stripe's strategy to become a go-to vendor for clients interested in adding support for or launching their own crypto products, following its recent acquisition of stablecoin infrastructure firm Bridge. Read more

Nvidia CEO says UK needs computing power to develop AI - The FCA announced a new framework to allow financial firms to experiment with AI tools in a controlled environment from October, part of a government strategy to support innovation and economic growth. As part of this, the FCA has partnered with Nvidia to provide access to advanced computing power and bespoke AI. Read more

How stablecoins are entering the financial mainstream - Until recently, stablecoins’ ease of use and anonymity made them a de facto currency reserve for crypto traders and a conduit for crime including drug trafficking and money laundering. But, helped by the return of President Donald Trump to the White House, stablecoins are becoming increasingly mainstream, a development that could have profound implications for the global financial system. Read more

Bullish aims to take crypto exchange public following Circle’s success - Bullish tried to go public in 2021 via a merger with special purpose acquisition company Fair Peak. However, the two firms called off the plan due to regulatory hurdles in late 2022. But that was under a different administration. With crypto-friendly President Donald Trump in office, investors have grown much more enthusiastic about cryptocurrency. Read more

Norway’s oil fund calls for urgent reform of European capital markets - The world’s largest sovereign wealth fund is calling for urgent reform of Europe’s capital markets including harmonised tax, insolvency and supervisory rules to ensure the continent does not fall further behind the US and Asia in competitiveness. The fund will this week send a response to the European Commission’s consultation on capital markets integration, arguing it should be more ambitious and address deeper structural problems hurting the continent and its multiple national markets. Read more

Walmart, Amazon explore stablecoins as senate advances regulatory framework - The timing of these deliberations is closely tied to the legislative progress of the GENIUS Act, which is poised to become the nation’s first comprehensive stablecoin law. The bill, which recently cleared a key Senate procedural vote by a 68-30 margin, aims to establish clear rules for dollar-backed stablecoins, requiring them to be fully reserved and subject to oversight by federal or state regulators. Read more

BlackRock has built an AI analyst, ‘Asimov,’ to scan filings - The world’s largest asset manager has built an AI research platform dubbed “Asimov” and is using it now in the firm’s fundamental equity business. Fund managers have been using AI models for tasks ranging from simple ones like routine data collection to more sophisticated functions such as making investment decisions. Read more

Select Financings


Farsight - New York based AI-powered finance assistant for professionals raised $13m in Series A funding led by SignalFire. Read more

FinanceKey - Finland based cash management platform for finance teams raised €3m in Seed funding led by Maki.vc. Read more

Hypernative - Israel based threat prevention provider for crypto companies raised $40m in Series B funding co-led by Ten Eleven Ventures and Ballistic Ventures. Read more

Noah - London based stablecoin payment network Noah raised $22m in Seed funding led by LocalGlobe. Read more

Octaura - New York based provider of electronic trading, data, and analytics solutions raised $46.5m in funding from investors including Bank of America, Citi, Goldman Sachs, JPMorgan, Morgan Stanley, Wells Fargo, and Moody's. Read more

OpenTrade - London based stablecoin infrastructure startup raised $7m in Seed funding co-led by Notion Capital and Mercury Fund. Read more

Payrails - Berlin based enterprise payments software provider raised $32m in Series A funding led by HV Capital. Read more

Piston - California based cardless payments platform which connects commercial fleets with gas stations raised $6.1m in Seed funding led by Spark Capital. Read more

RetroRate - San Diego based assumable real estate loan software provider raised $2.2m in funding led by Swift Ventures. Read more

Yupp - California based crypto-incentivized AI model evaluation startup raised $33m in Seed funding led by a16z. Read more


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