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VC investment in mainland China amounts to $14.9bn across 830 deals in Q3 2020
Wednesday, November 04, 2020

Laxman Pai, Opalesque Asia:

Venture Capital (VC) investment in the Asia Pacific rebounded significantly in Q3'20 after two soft quarters of investment, reaching USD 21.1 billion, mainly driven by investment in China, said a study.

VC investment in mainland China amounted to USD 14.9 billion across 830 deals, up from 698 deals totaling USD 12.8billion in the second quarter, according to KPMG's Venture Pulse Q3 2020 report.

The Asia Pacific as a whole saw USD 21.1 billion in investment across 1,285 deals in Q3'20 - up from USD 17.2 billion across 1,207 deals in Q2'20, led by a USD 1.5 billion raise by Shanghai-based automotive company Weltmeister and a USD 1.3 billion raise by India-based internet retailer Flipkart.

"VC investment in mainland China rebounded in Q3'20, as the country continued to recover from the impacts of COVID-19," the report explained.

During Q3'20, China recorded eight of the Asia-Pacific region's largest deals in Q3'20, namely the USD1.5 billion raise by Shanghai-based automotive company Weltmeister, a USD 830 million raise by JD Health, a USD 500 million raise by automotive company Xpeng, grocery delivery company Miss Fresh (USD 495m), edtech company Zhangmen.com (USD 450m), internet retail company Xiaohongshu (USD 450m), medtech company MicroPort Medical Robots (USD 432 million) and discount grocery company Yipin Shengxian (USD353m).

The pandemic continued to drive a significant boom in VC investment in health and biotech......................

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