China VC funding fell 12.6% to $23.3B in Jan-Aug 24
A total of 1,761 venture capital (VC) funding deals of worth $23.3 billion were announced in China during January to August 2024. This represents a year-on-year (YoY) decline of 18.5% in terms of deal volume and 12.6% YoY decline in terms of total funding value, according to GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Deals Database reveals that a total of 2,161 VC deals with disclosed funding value of $26.7 billion were announced in China during the first eight months of 2023.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Although China continues to be the best VC funding market in the world after the US, the decline registered in the country raises concern more specifically in terms of total funding value. China experienced decline in total funding value even as several of its peers including the US, the UK and India registered growth.”
The US, the UK and India experienced VC funding value YoY grow by 1.9%, 14.8% and 53.1%, respectively, while China witnessed a YoY decline of 12.6%.
Bose adds: “The decline in total funding value could be attributed to the fact that China experienced a pronounced reduction in the volume of high-value VC deals announced during the review period.”
For instance, the number of VC deals valued more than or equal to $100 million announced in China YoY decreased from 58 to 43.
It is noteworthy that China accounted for 16.4% share of the total number of VC deals announced globally during January-August 2024 while its share of the total funding value stood at 14.3%.
Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.
Notes to Editors
- Quotes are provided by Aurojyoti Bose, Lead Analyst at GlobalData
- The information is based on GlobalData’s Deals Database
- This press release was written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.
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