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Laxman Pai, Opalesque Asia: Venture capital investment in Asia remained steady quarter-over-quarter at $16.9 billion across 1,011 deals in the second quarter of 2020, said a study by KPMG.
According to the report, the VC investment in Asia is led by three Chinese deals: a $1 billion Series B round by MGI Tech, a $1 billion early-stage raise by Didi Bike and a $750 million Series E raise by Zuoyebang.
Several sectors continued to thrive due to their applicability in the current business environment, including digital platform businesses focused on meeting consumer needs -- such as edtech, home delivery, and online gaming -- and healthtechs.
With the employees of many corporations in Asia working from home, B2B digital solutions enabling employees to work remotely also attracted substantial investor attention.
On a regional basis, China saw a slight uptick in overall investment, however, VC investment in India fell for the second consecutive quarter. Fintech remained one of India's bright spots - as evidenced by the $397 million raised by Navi Technologies.
Despite the slowdown in VC funding, India remains a key market for investors. In April, Facebook announced a massive $5.7 billion equity investment in Reliance Jio --India's largest telecom operator.
Meanwhile, Global VC investment stayed relatively even from $63.8 billion across 5,624 deals in Q1'20 to over $62.9 billion across 4,502 deals in Q2'20.
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