1. Deals Analysis
February 22, 2021

Technology industry cloud Venture Financing deals total $1.44bn in China in January 2021

By Carmen

Total technology industry cloud Venture Financing deals worth $1.44bn were announced in China in January 2021, led by $700m Venture Financing of Beijing Wusi Chuangxiang Technology, according to GlobalData’s deals database.

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The value marked an increase of 118.5% over the previous month of $658.94m and a rise of 307.3% when compared with the last 12-month average of $353.56m.

China held a 33.26% share of the global technology industry cloud Venture Financing deal value that totalled $4.33bn in January 2021.

In terms of cloud Venture Financing deal activity, China recorded 43 deals during January 2021, marking an increase of 48.28% over the previous month and a rise of 53.57% over the 12-month average.

China technology industry cloud Venture Financing deals in January 2021: Top deals

The top five technology industry cloud Venture Financing deals accounted for 91.3% of the overall value during January 2021.

The combined value of the top five technology cloud Venture Financing deals stood at $1.31bn, against the overall value of $1.44bn recorded for the month.

The top five technology industry cloud Venture Financing 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) CICC Capital ManagementLimited and Tencent Investment’s $140m venture financing of Shanghai Woqu Information Technology

4) The $50.5m venture financing of Shanghai Woqu Information Technology by Sequoia Capital China Fund

5) IDG Capital, Northern Light Venture Capital and Tongchuang Weiye’s venture financing of New Core Technology for $23.19m.

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.

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