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Laxman Pai, Opalesque Asia: The number of venture capital (VC) deals in Asia saw a sharp increase in the third quarter of 2019 to 922 deals, up from 839 in the second quarter, while global VC deal volume dipped from 5,138 deals in the second quarter to 4,154.
According to KPMG report, Venture PulseQ3'2019, VC investment in Asia remained subdued, falling from USD 18.61 billion in the second quarter of 2019 to USD 14.92 billion in the third quarter, which was consistent with the fall in VC investment globally from USD 64.96 billion to USD 55.71 billion in the same period.
Egidio Zarrella, Partner, and Head of Clients and Innovation, KPMG China, said, "There is a lot of interest in the Asian market, but investors have really slowed down their activity. They are being conservative, waiting to see where things go from an economic and geopolitical perspective. This does not mean activity is not happening at all."
Chinese companies accounted for seven of the top 10 VC deals in the Asia Pacific, taking the top four spots in the ranking. These comprise entertainment software company NetEase Cloud Music, which raised USD 700 million, as well as automotive companies Didi Chuxing (USD 600 million), CHJ Automotive (USD 530 million) and Byton (USD 500 million).
Information services company Zhihu (USD 434 million), transportation firm Hellobike (USD 400 million) and office services provider D&J China (USD 300 million) ranked sixth, seventh and tenth respectively.
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