Venture capital and private equity reap handsome returns in China,but investors need to be cautious of bubbles If a falling brick hits 10 people in Beijing’s Financial Street, nine of them would be engaged in private equity. This quirky comment about China’s venture capital and private equity industry has been circulating as the sector enjoys a golden age, even as bubbles form across China. Venture capital and private equity reap handsome returns in China, but investors need to be cautious of bubbles if a falling brick hits 10 people in Beijing’s Financial Street, nine of them would be engaged in private equity. This quirky comment about China’s venture capital and private equity industry has been circulating as the sector enjoys a golden age, even as bubbles form across China.