Total technology industry cloud Venture Financing deals worth $725.7m were announced in China in August 2021, led by $308m Venture Financing of Newlinks (Beijing) Technology, according to GlobalData’s deals database.

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The value marked an increase of 16% over the previous month of $625.86m and a rise of 44.7% when compared with the last 12-month average of $501.66m.

China held a 13.56% share of the global technology industry cloud Venture Financing deal value that totalled $5.35bn in August 2021.

In terms of cloud Venture Financing deal activity, China recorded 34 deals during August 2021, marking a decrease of 5.56% over the previous month and a rise of 9.68% over the 12-month average.

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

The top five technology industry cloud Venture Financing deals accounted for 88.03% of the overall value during August 2021.

The combined value of the top five technology cloud Venture Financing deals stood at $638.82m, against the overall value of $725.7m recorded for the month.

The top five technology industry cloud Venture Financing deals of August 2021 tracked by GlobalData were:

1) China Merchants Capital Investment and CICC Capital ManagementLimited $308m venture financing deal with Newlinks (Beijing) Technology

2) The $153.67m venture financing of Ekuaibao by FutureCap,Mantu Capital,Sequoia China Fund,SoftBank Vision Fund II and Tiger Global Management

3) Bank of Communications,Guotai Junan International,Industrial Investment (Beijing) Capital Management,Light Source Capital,Recent Capital and SPDB International $100m venture financing deal with Beijing Dipu Technology

4) The $46.41m venture financing of Shenzhen Huaqiu Electronics by Hillhouse Ventures,Joy Capital and ShunWei Capital

5) Northern Light Venture Capital,ShunWei Capital,Tongchuang Weiye and Xiaomi Ventures $30.73m venture financing deal with New Core Technology