Total technology industry venture financing deals in October 2019 worth $1.58bn were announced in China, according to GlobalData’s deals database.
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The value marked a decrease of 35.6% over the previous month and a drop of 28.5% when compared with the last 12-month average of $2.21bn.
China held a 14.2% share of the global technology industry venture financing deal value that totalled $11.17bn in October 2019.
In terms of deal activity, China recorded 169 deals during October 2019, marking an increase of 13.4% over the previous month and a rise of 32.03% over the 12-month average.
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China technology industry venture financing deals in October 2019: Top deals
The top five technology industry venture financing deals accounted for 50.2% of the overall value during October 2019.
The combined value of the top five technology venture financing deals stood at $793.99m, against the overall value of $1.58bn recorded for the month.
The top five technology industry deals of October 2019 tracked by GlobalData were:
1) Cowin Venture Capital, Ivy Capital, Morningside Venture Capital, SAIF Partners, Softbank China Venture Capital, Tencent Holdings, Tiger Global Management and Zheshang Venture Capital Management’s $211.71m venture financing of Taimei Technology
2) The $200m venture financing of Kindler’s Information Technology by Beishang Capital, CDH Investments, Gaorong Captial and Mingde Holdings
3) Alibaba Group, China State-Owned Capital Venture Investment Fund, ICBC Financial Assets Investment, Jinpu Pengyuan Fund, Shanghai Guohe Modern Service Industry Equity Investment Management, Shanghai International Group and Yonghui Fund’s $141.14m venture financing of Chihiro Location
4) The $141.14m venture financing of Hainan Golden Technology by CDH Investments, China Finance Fund, China Investment, China Investment Fund, Hillhouse Capital Group, IDG Capital, Prometheus Capital, Tencent Holdings and Wanda Group
5) eWTP Technology & Innovation Fund, Heizao Capital, Matrix Partners China and N5 Capital’s venture financing of Dongguan Yide Network Technology for $100m.
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.