China’s technology industry saw a rise of 15.79% in overall cross border deal activity during January 2021, when compared with the last 12-month average, led by Beijing Xicheng Jinrui Equity Investment Fund Management, Boyu Capital Consultancy, China Development Bank, China ReformLtd, CSC Financial, FountainVest Partners, Goldman Sachs Asia Securities, Haitong Securities, HOPU Jinghua (Beijing) Investment ManagementLimited, JIC TechnologyLimited, JinYi Capital, National Manufacturing Transformation and Upgrading Fund, Primavera Capital Group and Sequoia Capital China’s $700m venture financing of Beijing Wusi Chuangxiang Technology, according to GlobalData’s deals database.
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A total of 22 cross border deals worth $1.6bn were announced in January 2021, compared with the 12-month average of 19 deals.
venture financing was the leading category in the month in terms of volume with 18 deals, which accounted for 81.8% of all cross border deals.
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By GlobalDataIn second place was M&A with three cross border deals, followed by private equity with one transactions, respectively accounting for 13.6% and 4.6% of overall deal activity in the China’s technology industry during the month.
In terms of value of cross border deals, venture financing was the leading deal category in China’s technology industry with total deals worth $1.56bn, while private equity and M&A deals totalled $40m and $2m respectively.
China technology industry cross border deals in January 2021: Top deals
The top five technology industry cross border deals accounted for 96.04% of the overall value during January 2021.
The combined value of the top five technology cross border deals stood at $1.54bn, against the overall value of $1.6bn recorded for the month.
The top five technology industry cross border deals of January 2021 tracked by GlobalData were:
1) Beijing Xicheng Jinrui Equity Investment Fund Management, Boyu Capital Consultancy, China Development Bank, China ReformLtd, CSC Financial, FountainVest Partners, Goldman Sachs Asia Securities, Haitong Securities, HOPU Jinghua (Beijing) Investment ManagementLimited, JIC TechnologyLimited, JinYi Capital, National Manufacturing Transformation and Upgrading Fund, Primavera Capital Group and Sequoia Capital China’s $700m venture financing of Beijing Wusi Chuangxiang Technology
2) The $400m venture financing of Horizon Robotics by Aspex, Baillie Gifford, China Securities, Citic Private Equity Funds Management, CloudAlpha Tech Fund, Contemporary Amperex Technology, Hermitage Capital HK, Neumann Advisors, ORIX, SDHS Capital, YF Capital and Yuantai Changqing Fund
3) Bertelsmann Asia Investments, Coatue Management, GGV Capital, Hillhouse Capital Group, Jeneration Capital, Morningside Venture Capital Group, SoftBank Vision Fund and Tencent Holdings’ $360m venture financing of Beijing Calorie Technology
4) The $40m private equity deal with Wayz.ai by Blue Chi Venture Capital, China Chengxin Group, Lightspeed China Investment, Shanghai Pudong Science And Technology Investment, Shanghai Yunfeng Investment ManagementLimited, Triumph Capital, Wind Information, Wuyuefeng Capital, Zhangjiang Group, Zhanxing Fund and ZJ Innopark
5) Carmignac’s venture financing with EHang for $40m.
