Hearst Eyes Stake in Chinese Online Car Rental Firm

China Daily: Hearst Ventures, the investment arm of the Hearst Corporation, plans to raise its activities in China’s telecommunication, media and technology sectors. The firm is in the process of investing in a Chinese peer-to-peer online car rental company, according to Ken Bronfin, Hearst Ventures senior managing director. Hearst has earmarked around $1 billion for its global VC investments, 30 percent of which is likely to be aimed at China, Bronfin said.