Originally named China (PTV- China), IDGVC was founded in 1992 by IDG, the world's leading information technology service company. IDGVC's investment is mainly concentrated in high-tech fields such as Internet, information service, software, communication, network technology and bioengineering. So far, IDGVC has invested hundreds of millions of dollars in China's booming start-ups. 1998 10 In Beijing, the International Data Group signed a memorandum of cooperation with the Ministry of Science and Technology of China. According to this memorandum, IDGVC will invest US$ 2 billion in high-tech enterprises in China within seven years to foster and support the development of high-tech industries in China.