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September 29, 2016

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PE/VC deals in TMT surge in first half

PRIVATE equity and venture capital investment in Chinese telecommunications, media and technology companies in the first half of this year accounted for 55 percent of overall investment in terms of deal value.

A total of 1,351 PE/VC deals were inked with a total value of US$33.99 billion in the TMT industry, with deal value hitting a record high of US$20.05 billion in the second quarter, PwC said in its MoneyTree report yesterday.

A total of 45 deals had a financing value of over US$100 million in the first half.

“The scale and range of investment in the TMT industry are reflected by the emergence of unicorn companies as well as companies that are developing into more mature organizations,” said PwC China TMT leader Gao Jianbin.

About 63 percent of investment deals went to first-round financing, while 86 percent of them were worth less than US$1 million. The cautious and prudence stance of investors is likely to remain in the future.

“Core investment sectors in the TMT industry are closely linked to modern lifestyles such as Internet finance, e-commerce and mobile services thanks to the higher penetration of smartphones, while investors are also drawn to these new companies that add innovation to fields that are increasingly changing people’s lifestyles,” said PwC China transaction service partner Alvin Bao.

In terms of exit channels, over 60 percent were achieved through strategic sales.


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