1. Deals Analysis
June 29, 2021

Technology industry venture financing deals total $1.6bn in China in May 2021

By Carmen

Total technology industry venture financing deals worth $1.6bn were announced in China in May 2021, led by $109.45m venture financing of Shenzhen Xunce Technology, according to GlobalData’s deals database.

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The value marked a decrease of 24.1% over the previous month of $2.16bn and a drop of 53.01% when compared with the last 12-month average of $3.49bn.

China held an 8.10% share of the global technology industry venture financing deal value that totalled $20.25bn in May 2021.

In terms of venture financing deal activity, China recorded 122 deals during May 2021, marking a decrease of 20.78% over the previous month and a drop of 24.69% over the 12-month average.

China technology industry venture financing deals in May 2021: Top deals

The top five technology industry venture financing deals accounted for 27.1% of the overall value during May 2021.

The combined value of the top five technology venture financing deals stood at $443.45m, against the overall value of $1.6bn recorded for the month.

The top five technology industry venture financing deals of May 2021 tracked by GlobalData were:

1) Citic Private Equity Funds Management, Goldman SachsLLC, Greater Bay Area Homeland Investments, Taikang Insurance Group and Tencent Investment’s $109.45m venture financing of Shenzhen Xunce Technology

2) The $100m venture financing of The Shanghai Airlines Jiexun Network Technology by Source Code Capital

3) Meituan, Sequoia Capital (Hong Kong) and Tengxun Touzi’s $78m venture financing of PuduTech

4) The $78m venture financing of Xin Yaohui Technology by Da Heng Qin Group, Gaorang Capital, Lanpu Ventures and Matrix Partners China

5) Gaorong Capital, GL Ventures, Lanpu Ventures, Macau University of Science and Technology, Matrix Partners China, Panorama Capital, Sequoia Capital China, Technology Foundation Of Guiyang, V Fund Management and Zhuhai Da Heng Qin’s venture financing of Xin Yaohui Technology for $78m.

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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