Total technology industry venture financing deals in Q2 2019 worth $3.54bn were announced in China, according to GlobalData’s deals database.
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The value marked a decrease of 48.4% over the previous quarter and a drop of 62.02% when compared with the last four-quarter average of $9.34bn.
China held a 14.2% share of the global technology industry venture financing deal value that totalled $24.98bn in Q2 2019.
In terms of deal activity, China recorded 333 deals during Q2 2019, marking a drop of 5.1% over the previous quarter and a drop of 12.1% over the last four-quarter average.
China technology industry venture financing deals in Q2 2019: Top deals
The top five technology industry venture financing deals accounted for 39% of the overall value during Q2 2019.
The combined value of the top five technology industry venture financing deals stood at $1.38bn, against the overall value of $3.54bn recorded for the quarter.
The top five technology industry venture financing deals tracked by GlobalData in Q2 2019 were:
1) Alibaba Group Holding, Bank of China Group Investment, ICBC Asset Management (Global) Limited and Macquarie Group’s $750m venture financing of Megvii Technology
2) The $292m venture financing of Ouyeel InternationalLtd. by Baoshan Iron & Steel, China Baowu Iron and Steel Group, China Merchants Capital Management, China State-owned Enterprise Structure Adjustment Fund, China Structural Reform Fund, CITIC Securities Investment and Shanghai Baosteel International Economic & Trading
3) Warburg Pincus’ $140m venture financing of Gaosi Education Group
4) 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 Cathay Global, China Everbright Holdings, China Merchants Capital Investment, GGV Jiyuan Capital
5) Zhongbai Fund’s venture financing of Hangzhou Tongdun 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.
Visit our ‘Technology Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the technology industry.