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TMT investment rise to three-year high
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THE value and the number of deals of private equity and venture capital investment in China's telecommunications, media and technology industry in 2014 rose to the highest level in three years, thanks to a series of incentive policies for entrepreneurship and innovation introduced by the government, a latest study shows.
The total amount of PE/VC investment in China’s TMT sector in the past year hit US$15.9 billion while the deal number increased to 1,241 or 47 percent over 2013, PricewaterhouseCoopers said in its China MoneyTree Report released today.
"Total investment fell off from the historical peak in the second quarter of 2014 but still remained high, and we expect the trend to continue in the first half this year," Gao Jianbin, PwC China Technology Leader said at a press briefing today.
Alibaba’s successful listing on the NYSE in September 2014 reshaped the world’s perception of the Chinese IT industry and Internet companies, he noted.
Internet remained the hottest industry sector in terms of deal numbers, yet as much as 53 percent of the value of investment were devoted to the telecom and mobile segment, reaching US$2,499 million in the fourth quarter last year.
"The increase in the number of large-value investments in mobile entertainment, as well as service and healthcare businesses, shows that market leaders are starting to emerge in these areas, and the large amount of fund raising have helped them built entry barriers to deter newcomers,” added Roland Xu, PwC China Transaction Service Technology Partner.
The investment value for early-stage investments also reached a historical high level, accounting for 65 percent and 70 percent, of the total in the third and fourth quarter of 2014 respectively.
Beijing has established itself as the heartland of China’s TMT industry, generating half of the total deal number of TMT investment and claiming 61 percent of the aggregate investment size as it has advantages in human resources, funding and policy for start-ups in the TMT industry. Shanghai, Zhejiang and Guangdong provinces were also top regions for TMT start-ups.
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