China’s technology industry saw a drop of 1.4% in overall deal activity during April 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 141 deals worth $1.35bn were announced in April 2019, compared to the 12-month average of 143 deals.

Venture financing was the leading category in the month in terms of volume with 127 deals which accounted for 90.1% of all deals.

In second place was M&A with 11 deals, followed by private equity with three transactions, respectively accounting for 7.8% and 2.1% of overall deal activity in the country’s technology industry during the month.

In terms of value of deals, M&A was the leading deal category in China’s technology industry with total deals worth $1.21bn, while venture financing deals totalled $139.48m.

China technology industry deals in April 2019: Top deals

The top five technology industry deals accounted for 36.3% of the overall value during April 2019.

The combined value of the top five technology industry deals stood at $488.91m, against the overall value of $1.35bn recorded for the month. The top announced China technology industry deal tracked by GlobalData in April 2019 was Warburg Pincus’ $140m venture financing of Gaosi Education Group.

In second place was the $100m venture financing of Black Sesame Intelligent Technology by China Merchants Capital Investment, Delta Capital, Legend Capital, Northern Light Venture Capital, SAIC Motor and SK China and in third place was Cathay Global, China Everbright Holdings, China Merchants Capital Investment, GGV Jiyuan Capital and Zhongbai Fund’s $100m venture financing of Hangzhou Tongdun Technology.

The $74.51m venture financing of More Health by China Pacific InsuranceEndowment Fund, China Pacific InsuranceHealthcare Fund and Xiran Capital and CPIC, Pacific Medical Health Management and Xiran Capital’s venture financing of More Health (Miaojiankang) for $74.4m held fourth and fifth positions, respectively.

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.