One of China’s Top Tech Investors Sees Crackdown Turning Point

The founder of one of China’s biggest private equity investors said the nation’s tech firms are turning a corner after a recent rout wiped out nearly$2 trillion in market value at its peak.

Fred Hu, the former Goldman Sachs Group Inc. rainmaker who started the $17 billion Chinese private equity firm Primavera Capital, said reassuring messages concerning regulation, resilient earnings and beaten-down valuations now make the sector interesting for investors.

“This could be the beginning of a new era for China tech,” Hu, the firm’s chairman, said in a recent interview. “There’s a lot of value to ...