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Laxman Pai, Opalesque Asia: China posted an increase in both deal volume and venture capital (VC) investment in Q2'20 compared with Q1'20, reflecting early signs of a recovery in the region's VC market, said a study.
China accounted for eight of the top 10 largest deals in the Asia Pacific, according to KPMG analysis.
KPMG's Venture Pulse Q2 2020 report finds that large platform companies in China began to resume investment activity in April. VC investment in China amounted to USD 12.7 billion across 633 deals, up slightly from 530 deals totaling USD 9.1 billion in the first quarter.
According to the report, the Asia Pacific as a whole saw 1,011 VC deals in Q2'20, which amounted to a total deal size of USD 16.9 billion, broadly similar to the previous quarter when 1,044 deals were completed with a total deal size of USD 17.4 billion.
Egidio Zarrella, a Partner, Head of Clients and Innovation, KPMG China, said: "COVID-19's impact on travel and global supply chains combined with the ongoing market turbulence is causing many investors to refocus on local market opportunities. This could lead to an upswell in domestic VC investment over the next quarter."
Q2'20 saw several large-scale deals in China, such as biotech MGI Tech and Didi Bike raising USD 1 billion each, a USD 750 million raised by edtech Zuoyebang, USD 500 million for Didi Autonomous Driving and USD 400 million for produce delivery company Xingsheng Select...................... To view our full article Click here
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