Wednesday, 29 January 2020 00:02

China tech industry venture financial deals continue to rise

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Shanghai China Shanghai China

China’s technology industry witnessed a rise of 46.3% in venture financing deal activity during the fourth quarter of 2019, over the last four-quarter average, according to a new report by one global analyst.

According to analyst firm GlobalData, total venture financing deals worth US$11.36 billion were announced in the technology industry in China during Q4 2019, with the value marking an increase of 125.5% over the previous quarter and a rise of 70.5% when compared with the last four-quarter average, which was US$6.66bn.

At a global level, China’s venture financing deal activity in the technology industry held a 20.6% share during the quarter in terms of deal volume and a 33% share in terms of deal value.

According to GlobalData’s deals database, the technology industry observed 566 venture financing deals during the quarter when compared with the last four-quarter average of 387 deals. And in comparison with the previous quarter, it recorded a rise of 33.2% in Q4 2019.

The top five technology venture financing deals accounted for 65.3% of the overall value during Q4 2019, while the combined value of the top five technology venture financing deals stood at US$7.41bn, against the overall value of US$11.36bn recorded for the quarter.

The top announced China technology venture financing deal tracked by GlobalData in Q4 2019 was China Nanshan Development (Group), Haitong Hengxin Leasing, Huaneng Invesco WLR Investment ConsultingLtd., Morgan Stanley Venture Partners, Rosser Capital Partners Management and Urban Development Investment’s US$3.7bn venture financing of Tenglong Holding.

In second place was the US$3bn venture financing of Beijing Kuaishou Technology by Boyu Capital, Sequoia Capital China, Temasek Holdings (Private), Tencent Holdings and YF Capital - and in third place was Bull Capital Partners, Chengwei Capital, CICC Capital ManagementLimited, DST Global, Source Code Capital, Tiger Global Management and Yunqi Capital’s US$300m venture financing of Guangzhou Zhijing Information Technology.

And the US$211.71m venture financing of Taimei Technology by Cowin Venture Capital, Ivy Capital, Morningside Venture Capital, SAIF Partners, Softbank China Venture Capital, Tencent Holdings, Tiger Global Management and Zheshang Venture Capital Management and Beishang Capital, CDH Investments, Gaorong Captial and Mingde Holdings’ venture financing of Kindler’s Information Technology for US$200m held fourth and fifth positions, respectively.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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