Total technology industry venture financing deals in February 2019 worth $2.03bn were announced in China, according to GlobalData’s deals database.

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The value marked an increase of 6.3% over the previous month and a drop of 35.04% when compared with the last 12-month average of $3.13bn.

China held a 21.3% share of the global technology industry venture financing deal value that totalled $9.55bn in February 2019.

In terms of deal activity, China recorded 67 deals during February 2019, marking a decrease of 47.2% over the previous month and a drop of 44.6% over the 12-month average.

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By GlobalData

China technology industry venture financing deals in February 2019: Top deals

The top five technology industry venture financing deals accounted for 86.7% of the overall value during February 2019.

The combined value of the top five technology industry venture financing deals stood at $1.76bn, against the overall value of $2.03bn recorded for the month. The top announced technology industry venture financing deal tracked by GlobalData in February 2019 was SoftBank Vision Fund’s $1.5bn venture financing of Chehaoduo Old Motor Vehicle Brokers (Beijing).

In second place was the $120m venture financing of Chi Road Network Technology Tianjin by Betasman Asia Investment Fund, Black Horse Finance, Jingdong, Tencent Industry Fund and Yi Xin and in third place was Xiaomi Ventures’ $80m venture financing of Beijing Xiaochuan Technology.

The $31m venture financing of Squirrel Fights by Gaochun Capital, Hillhouse Capital Group, IDG Capital, MSA Capital, Qian Jiawei and Yunjiu Capital and Cathay Capital Private Equity, Greenwoods Investment, Kinzon Capital, Vision Knight Capital (China) Fund I and Yunmu Capital’s venture financing of Soocas (Shenzhen) Technology for $29.64m 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.

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.