A total of 2,313 venture capital (VC) funding deals were announced in China during Jan-Nov 2024, while the total disclosed funding value of these deals stood at $32.3 billion, a new report has revealed.
This represents a year-on-year (YoY) decline of 23.1% in VC deal volume, whereas the total disclosed funding value fell by 22.5%, according to GlobalData, a data and analytics company.
An analysis of GlobalData’s Deals Database revealed that a total of 3,006 VC deals were announced in China during Jan-Nov 2023 while the “total disclosed funding value of these deals was $41.7 billion.”
Aurojyoti Bose, Lead Analyst at GlobalData, comments:
“VC funding activity in China has continued to remain subdued in 2024 as investor sentiments seem to have taken a hit on the back of a crackdown on companies, macroeconomic challenges, and uncertain market conditions. However, despite the decline, China, apart from being the top APAC market for VC funding activity, also continues to be a key global market, standing just next to the US both in terms of deal volume and value.”
China accounted for a “15.2% share of the total number of VC deals announced globally during Jan-Nov 2024 while its share in terms of the corresponding funding value stood at 13.6%.”
Some of the VC funding deals announced in China during Jan-Nov 2024 include $1.5 billion worth of funding raised by Changxin Technology, $1.4 billion fundraising by AVATR, $1.1 billion worth funding secured by IM Motors, and $1 billion funding received by Moonshot AI, among others.
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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