ChiNext is China’s Nasdaq with an aim to let high tech companies have access to capitals. So far 30+ companies have been successfully listed on ChiNext, and the domestic VCs and PEs value ChiNext as an important exit for their seed investment. With the growth of a capital market for high tech companies, Funds denominated in RMB also prosper with some advantages that USD Funds can not beat (See Article from Beijing Review). Some of these players are young and inexperienced, but their potential to grow can not be underestimated. Due to the imbalance between supply and demand, the 30+ stocks listed on ChiNext trade at 100+ PE, which is way over a fair value of around 30-50 PE perceived by institutional investors. On the other hand, such a market offers extremely high return to the VCs and PEs who have bet right on the lucky idols.