A total of 1,265 venture capital (VC) funding deals were announced in China during January-April 2022 while the disclosed funding value of these deals stood at US$20.6bn according to GlobalData, revealing this was the highest VC funding amount raised by any Asia-Pacific (APAC) country.
China also remains a key global market for VC funding and stands just next to the US in terms of both value and volume. However, akin to several other key global markets, April was not a good month for China as well. It witnessed a 63.3% massive decline in deal value in April compared to the previous month while deal volume also declined by 31.8%.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “China is witnessing surge in COVID-19 cases, which has abridged investors’ confidence resulting in a decline in VC funding activity. Despite the decline in the deal activity, the country continues to be the most prolific APAC market accounting for around 40% of the region’s total VC funding deals volume and value during January to April 2022.”
Although VC funding activity remained subdued in China in April, the previous months of the year witnessed announcement of several $100 million+ deals. Some of these notable VC funding deals included US$785.7m funding raised by Chongqing Changan New Energy Automobile, US$472.6m funding raised by Innoscience, US$400m capital raised by Hong Kong Asia Medical, US$400m raised by Jidu Auto, US$400m raised by WeRide, US$315.8m funding raised by Hozon, and US$300m capital raised by Newlink Group, among others.