Beijing is China's Silicon Valley, says co-founder of billion-yuan fund

Li Zhu, co-founder of InnoAngel Fund, helps a staff check the script of his speech in Hangzhou, Sept 22, 2016. [Photo/chinadaily.com.cn]

Related: Beijing envisions future as top technology center

Clad in a pink polo T-shirt and jeans, 50-something angel investor Li Zhu carefully proofreads the script of his speech with an employee at a press room during the 2016 DEMO China in Hangzhou last week.

Such attention to details is rarely seen in a boss who handles a billion yuan fund.

But for Li Zhu, the co-founder of the 1.6 billion yuan ($240 million) InnoAngel Fund, it is common practice.

With an academic temperament, Li pays special attention to young entrepreneurs, even those born in the 1990s.

"We are always optimistic about the future of young businessmen. Judged from our past investment, we believe that those aged around 30 are highly likely to be successful in starting their own businesses," Li told chinadaily.com.cn in Hangzhou Thursday.

He added that young businessmen could be successful in two fields. First could be about meeting demands of people of their age. The second could be about technology innovation, or turning what they learned at universities into commercial products.

His fund now offers special plans for fresh university graduates or those with less than five years of experience after graduation.