VC and PE funds lift investments in China
Print Edition
INVESTMENTS by venture capital and private equity funds in China recovered in March due to the number of deals in the service industry, Zero2IPO Research Center said yesterday
The number of completed deals soared 120.9 percent month on month to 338 in March, recovering from a 38 percent decline in February, the Beijing-based firm said.
The 295 deals that have disclosed transaction figures were worth US$5.8 billion, a 37 percent rise from February, the firm said.
“After a mediocre February, investment sentiment picked up rapidly in March, driven by a number of deals in the tertiary industry,” said Cao Yumiao, a researcher at Zero2IPO.
The logistics sector attracted the most capital of US$1.6 billion, or 28 percent of the total, boosted by investment in Cainiao Logistics, an affiliate of Alibaba Group.
The Internet sector followed with US$1.1 billion while the information technology industry drew US$700 million.
The Internet industry led with 111 deals, followed by 49 deals in the IT sector and 23 in the telecommunication sector.
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