China’s Q3 2020 technology sector venture financing hit $8.41 billion. According to the GlobalData.com database, the value represents an increase of 6.3% from the previous quarter.
Compared to the last four-quarter average, the amount represents a rise of 19.8%. Notably, during the Q3, China’s share in the global technology venture financing stood at 28.2%. The total global value was $29.79 billion.
During the third quarter, China had 468 deals, a rise of 2.4% over the previous quarter and 4% over the last four-quarter average.
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From the report, the top five technology industry venture financing deals accounted for 39.5% of the total value during Q3 2020.
Top five deals account for $3.32 billion
In terms of specific deals, Boyu Capital Consultancy, Hillhouse Capital Group, and Tencent Holdings’ was the leading with $1.2 billion venture financing of Ape coaching.
Hillhouse Capital Group $830 million financings into JD Health ranks second.
The $800 million financings of Hunan Xingsheng Optimal E-Commerce by KKR &Inc, Sequoia China Fund, and Tencent Holdings ranks third. There is the $292.54 million venture financing of Beijing Eswell Computing Technology by CASH Capital (Beijing) in fourth place.
In the fifth spot, there is DCM Capital, H Capital, Innovation Workshop, New Oriental Group, and SoftBank Vision Fund’s venture financing of Pea Thinking Technology at $200m.
Cumulatively, the five deals value stands at $3.32 billion. The deal’s value is based on only announced and completed financing.
