Total technology industry venture financing deals in March 2019 worth $1.79bn were announced in China, according to GlobalData’s deals database.
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The value marked a decrease of 11.7% over the previous month and a drop of 44.8% when compared with the last 12-month average of $3.25bn.
China held an 18.7% share of the global technology industry venture financing deal value that totalled $9.61bn in March 2019.
In terms of deal activity, China recorded 130 deals during March 2019, marking an increase of 94.03% over the previous month and a rise of 6.6% over the 12-month average.
China technology industry venture financing deals in March 2019: Top deals
The top five technology industry venture financing deals accounted for 39.5% of the overall value during March 2019.
The combined value of the top five technology industry venture financing deals stood at $707.86m, against the overall value of $1.79bn recorded for the month. The top announced technology industry venture financing deal tracked by GlobalData in March 2019 was China Aviation Industrial Fund, Huaxing New Economic Fund, Jintuo Capital and Tencent Holdings’ $297.86m venture financing of Beijing MiningLamp Software System.
In second place was the $150m venture financing of Mofang Shanghai Apartment Management by Caisse de depot et placement du Quebec and in third place was Warburg Pincus’ $100m venture financing of Yijiupi E-Commerce.
The $80m venture financing of Shanghai Yizheng Information Technology by Lightspeed Management Company and Sunshine Life Insurance and Cathay General Bancorp, Lightspeed China Partners, Lightspeed Management Company, Schroder Adveq and Sunshine Insurance Group’s venture financing of Shanghai Information Technology for $80m 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.
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.
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More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.