Total technology industry venture financing deals in February 2020 worth $646.45m were announced in China, according to GlobalData’s deals database.

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The value marked a decrease of 33.9% over the previous month and a drop of 70.1% when compared with the last 12-month average of $2.16bn.

China held an 8.3% share of the global technology industry venture financing deal value that totalled $7.75bn in February 2020.

In terms of deal activity, China recorded 71 deals during February 2020, marking a decrease of 13.4% over the previous month and a drop of 47.8% over the 12-month average.

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By GlobalData

China technology industry venture financing deals in February 2020: Top deals

The top five technology industry venture financing deals accounted for 26.2% of the overall value during February 2020.

The combined value of the top five technology venture financing deals stood at $169.47m, against the overall value of $646.45m recorded for the month.

The top five technology industry deals of February 2020 tracked by GlobalData were:

1) Temasek Holdings (Private), Zhengxingu and Zhixin Capital’s $66m venture financing of Kaishu Story

2) The $42m venture financing of Lai Network & Technology by Cathay Innovation, Lightspeed China Partners, Lightspeed Management Company and Wu Capital

3) Bright Capital, GF Xinde Investment Management and Tencent Holdings’ $21.47m venture financing of Leyao Information Technology

4) The $20m venture financing of Guangye Technology by Maixing Investment

5) Gaocheng Capital’s venture financing of Beijing 51CTO Information Technology for $20m.

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.

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.