A total of 2,116 venture capital funding deals valued at around $28.2 billion were announced in China during the timeframe between January-October 2024, according to a new research report.
This represents a significant year-on-year (YoY) decline of 22.5% in VC deal volume, whereas the total disclosed funding value “fell by 26.8%,” according to GlobalData, a data and analytics company.
An analysis of GlobalData’s Deals Database has revealed that during January-October 2023, China had witnessed the announcement of “a total of 2,731 VC deals with disclosed funding value of $38.5 billion.”
Aurojyoti Bose, Lead Analyst at GlobalData, commented that the ongoing crackdown on companies coupled with the ongoing conflicts, “uncertain market conditions and economic challenges have weighed heavily on investor sentiment.”
Bose added that this can also be understood from the fact that China witnessed a “decline in the number of big-ticket deals during January-October 2024 compared to January-October 2023.”
The number of VC deals valued more than or equal to $100 million announced in China decreased “from 70 during January-October 2023 to 50 during January-October 2024.”
Bose also mentioned that despite this downturn, China has maintained a substantial presence in the global VC landscape “standing just next to the US in terms of both deal volume and value.”
China accounted for 1″5.4% share” of the total number of VC deals announced globally during January-October 2024 while its share in terms of the corresponding “funding value stood at 12.9%.’
Some of the notable VC funding deals announced in China during January-October 2024 “included $1.5 billion worth funding raised by Changxin Technology, $1.4 billion fundraising by AVATR, $1.1 billion worth of funding raised by IM Motors and $1 billion worth funding raised by Moonshot AI.”
As clarified in the update, historic data may change in case some deals get added to previous months because of “a delay in disclosure of information in the public domain.”
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