China technology venture financing in Q3 increases by 6.3% to $8.41B

China technology venture financing in Q3 increases by 6.3% to $8.41B
2 years ago
2 mins read

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.

From the report, the top five technology industry venture financing deals accounted for 39.5% of the total value during Q3 2020.

Source: verdict.co.uk

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.

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.