The report notes that China also saw a fall in the number of big-ticket deals.
China saw the announcement of 48 high value deals, referring to deals over US$100 million, in the first three quarters of 2024. This is a decrease from the 64 high value deals announced during the same period in 2023.
Despite this, China still accounts for 16% of total number of VC deals announced globally during the first three quarters of 2024, while its share of corresponding funding value stood at 14%.
Aurojyoti Bose, lead analyst at GlobalData, notes that “China has been experiencing a downturn in VC funding activity for quite some time now.”
See also: China warns BYD, rivals to self-regulate as price war heats up
“Several factors, including the crackdown on companies, economic challenges, and geopolitical tensions, seem to be at play in making a dent in investor sentiments,” he adds.
