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Laxman Pai, Opalesque Asia: Global venture capital (VC) investments during the fourth quarter (Q4) of 2020 remained robust and were nearly at pre-COVID levels, despite the second wave of COVID-19 pandemic and slow economic recovery.
According to GlobalData, the number of VC deals witnessed a continuous decline for the seventh straight quarter, there was an increase in the number of megadeals that helped to drive the overall investment value to nearly US$120bn in Q4.
The quarterly report 'VentureView: Disruptor Investment Activity Q4 2020' of GlobalData's Disruptor Intelligence Center reveals that e-commerce accounted for more than 40% of the top 10 VC deals in Q4 2020, with significant contributions from the education and retail sectors.
Venkata Naveen, the Senior Disruptive Tech Analyst at GlobalData, said: "The COVID-19 pandemic has changed the game of how companies across industries operate, driving a significant acceleration towards digital strategies. The Q4 2020 saw VC investors shift their focus on startups that were poised to offer tech-driven solutions in line with the new normal, such as enabling remote working, edtech, online retail and those offering increased access to customers via digital channels."
According to the report, China's edtech companies have raked in nearly US$5bn in funding. After-school edtech provider TAL raised US$3.3bn while online learning app Zuoyebang attracted US$1.4bn.
Edtech was followed by online retail with around...................... To view our full article Click here
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