When you find a unicorn, you invest in it — no matter where on Earth it is.
From Silicon Valley to Bangalore, the world’s biggest venture capital funds have been writing million-dollar checks to back these most promising of startups, which are valued at $1 billion or more.
But distance sometimes imposes a lack of clarity. Now, China’s crackdown on its ride-hailing giant Didi Global Inc. raises an uncomfortable question for the VCs: Does their globe-trotting model work?