A total of 1,571 venture capital (VC) deals with disclosed funding value worth $21.8 billion were announced in China during January-July 2024. This represents year-on-year (YoY) decline of 17.5% in VC deal volume and 4.7% in terms of funding value when compared to the same period in the previous year, according to GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Deals Database also revealed that a total of 1,904 VC deals were announced in China during January-July 2023, while the disclosed funding value of these deals stood at $22.9 billion.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Nevertheless, despite the decline, China’s dominance in the Asia-Pacific (APAC) region and significance in the global VC funding landscape continue to remain. It is the top APAC market for VC funding activity and is also a key global market, standing next to the US in terms of both VC deals volume and value.”
China accounted for 16.4% share of the total number of VC deals announced globally during January-July 2024, while its share of the corresponding disclosed funding value stood at 14.9%.
Some of the notable VC funding deals announced in China during January-July 2024 include $1.5 billion worth funding raised by Changxin Technology, $1.1 billion funding raised by IM Motors, and $1 billion funding raised by Moonshot AI, among others.
