China continues to be the most favorite destination for venture capital (VC) investors across the Asia-Pacific (APAC) region. China startups raised $6.5bn VC funding during January 2022, the highest across the region during the month, reveals GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Financial Deals Database reveals that a total of 304 VC funding deals were announced in China during January 2022 while the average size of these deals stood at $21.4m.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Apart from being the largest market in the APAC region, China remains a key global market and stands just next to the US in terms of VC funding deals volume as well as value.”
China accounted for 16.2% of the total number of VC funding deals announced globally during the month and also held a 12.7% share of the corresponding deal value.
Bose continues: “VC investors were also seen placing big-bets in Chinese startups. A total of 18 VC deals valued more than or equal to $100m were announced in the country during the month.”
Some of the notable VC funding deals announced during the period in China include $785.7m raised by Chongqing Changan New Energy, $400m raised by Jidu Auto, and $200m raised by Galactic Energy.
Bose concludes: “Despite regulatory crackdown, China’s technology sector continues to lure VC investors. However, unlike in the past when a major chunk of the funding was centered around e-commerce startups, currently investors are putting money in companies operating in fields such as clean energy, healthtech and hardware (semiconductors).
