HomeTech PlusStartup StoriesVC funding in China down by 19.5% YoY to $25.7 billion during...

VC funding in China down by 19.5% YoY to $25.7 billion during Q1-Q3 of 2024, finds GlobalData

An analysis of GlobalData’s Deals Database revealed that China saw the announcement of 2,480 VC deals of worth $31.9 billion during Q1-Q3 of 2023.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “China has been experiencing a downturn in VC funding activity for quite some time now. Several factors, including the crackdown on companies, economic challenges, and geopolitical tensions, seem to be at play in making a dent in investor sentiments.”

China also witnessed a fall in the number of big-ticket deals. The number of VC deals valued more than or equal to $100 million fell from 64 during Q1-Q3 2023 to 48 during Q1-Q3 2024.

Nevertheless, despite the subdued activity, China continues to top the Asia-Pacific market and is also a key global VC funding market standing just next to the US in terms of both deal volume and value.

China accounted for 16% share of the total number of VC deals announced globally during Q1-Q3 2024 while its share of corresponding funding value stood at 14%.

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