Total industry venture financing deals in Q2 2019 worth $10.77bn were announced in China, according to GlobalData’s deals database.

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The value marked a decrease of 12.3% over the previous quarter and a drop of 42.5% when compared with the last four-quarter average of $18.74bn.

China held an 18.5% share of the global industry venture financing deal value that totalled $58.22bn in Q2 2019.

In terms of deal activity, China recorded 639 deals during Q2 2019, marking a rise of 7.6% over the previous quarter and a drop of 8.8% over the last four-quarter average.

China industry venture financing deals in Q2 2019: Top deals

The top five industry venture financing deals accounted for 29.7% of the overall value during Q2 2019.

The combined value of the top five industry venture financing deals stood at $3.2bn, against the overall value of $10.77bn recorded for the quarter. The top announced industry venture financing deal tracked by GlobalData in Q2 2019 was Baring Private Equity Asia, CICC Capital ManagementLimited and CPEChina Fund’s $1bn venture financing of JD Health.

In second place was the $750m venture financing of Megvii Technology by Alibaba Group Holding, Bank of China Group Investment, ICBC Asset Management (Global) Limited and Macquarie Group and in third place was JD.com’s $500m venture financing of Shanghai Yue Yi Network Information Technology.

The $500m venture financing of Beijing Freedom Information Technology by General Atlantic, Sequoia Capital China, Tencent Holdings and Tiantu Capital and Strategic Investment Capital’s venture financing of Hezhong New Energy Automobile for $447.42m held fourth and fifth positions, respectively.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

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GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.