Friday, October 27, 2006

The next big things according to VCs

Cell phone gambling in China and other wireless trends are what venture capitalists at Brainstorm were talking about.Venture capitalists still see a lot that interests them, but it's mostly not in glamorous, sexy industries like the Internet.

Speaking at a breakfast panel discussion at FORTUNE's Brainstorm conference Friday morning, several prominent VCs talked about the industries and regions where they are focusing most of their attention.

Instead of funding hot new Internet startups to take on the Googles (Charts), eBays (Charts) and MySpaces of the world, several VCs said that areas like healthcare, energy, wireless communications and even good old-fashioned technology, things like software and semiconductors, are attractive.

Gary Rieschel, the founder of Qiming Venture Capital Partners, a firm focusing on early-stage companies in China, said that medical technology firms and energy start-ups in China are two areas that excite him the most.

Other VCs also raved about the prospects in China.

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