The Chinese tech trinity of Baidu, Alibaba as well as also Tencent — known as BAT — may dominate headlines, yet a trio of up-as well as also-coming companies with the acronym TMD are at which point “waiting within the pipeline” for public listings, an investment bank executive said Wednesday.
“I think 2018 as well as also 2019 are probably going to be busy years for IPO pipelines. I have a few, not unicorn, yet ‘decacorn’ companies within the pipeline,” said Fan Bao, chairman as well as also CEO of China Renaissance, referring to start-ups with valuations over $10 billion.
Bao listed smartphone maker Xiaomi as well as also the TMD trio of news aggregator Toutiao, consumer app Meituan-Dianping as well as also ride hailing company Didi Chuxing as those “waiting within the pipeline,” potentially coming onto the market in 2018 or 2019.
“These are interesting prospects which will probably bring fresh blood to the brand new market,” Bao said to CNBC.
The tech-focused boutique investment bank has advised a large number of Chinese firms, including e-commerce giants Alibaba as well as also JD.com. Its investment arm has over $3 billion in assets under management, according to recent reports.
Bao said there has been a flight toward quality within the Chinese deal-creating space, which is actually a trend he predicted could continue.
Industries seeing interest include artificial intelligence, driverless technology as well as also health care.
“Health care is actually genuinely sizzling hot,” he said, adding which the area is actually attracting a lot of capital.