PE/VC investment in TMT at 3-year high
Print Edition
THE value and 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, according to a latest study.
China’s TMT sector drew US$15.9 billion in PE/VC investment last year, more than double 2013’s US$7.13 billion, PricewaterhouseCoopers said in its China MoneyTree Report released yesterday. Last year saw 1,241 deals sealed, 47 percent more than the number in 2013, PwC added.
“Total investment fell 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 of this year,” Gao Jianbin, PwC China Technology Leader, told a press briefing.
The robust performance was attributed to several incentive policies for entrepreneurship and innovation introduced by the government, PwC said.
Alibaba’s successful listing on the NYSE in September reshaped the world’s perception of the Chinese IT industry and Internet firms, Gao noted.
Although the Internet remained the hottest sector by the number of deals, 53 percent of the investment value, or nearly US$2.5 billion, went to the telecom and mobile segment in the fourth quarter of last year.
“The increase in the number of large-value investments in mobile entertainment, online-to-offline services and health care businesses suggests that market leaders are starting to emerge in these areas,” PwC China Transaction Service Technology Partner Roland Xu said.
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