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China VC funding declines during January-July 2023, but still outperforms global peers, reveals GlobalData


August 24, 2023 ( Newswire) China experienced a decline in venture capital (VC) funding activity during January-July 2023. The country saw a 16.5% decrease in deal volume and a 28.6% reduction in disclosed funding value compared to the same period in 2022. However, this contraction appears relatively measured when juxtaposed with other major economies, reveals GlobalData, a leading data and analytics company.

An analysis of GlobalData's Financial Deals Database reveals that 1,871 VC funding deals were announced in China during January-July 2023 compared to 2,241 during January-July 2022. The corresponding disclosed funding value declined from $32.5 billion to $23.2 billion

Aurojyoti Bose, Lead Analyst at GlobalData, comments: "Despite a measured decline in funding activity, China's relative stability, in contrast to other major economies, underscores its enduring appeal. This signifies a potential for recovery and growth, positioning China as a pivotal player in the global venture capital arena."

For instance, in the US, which is the top market by VC funding activity, deal value and volume declined by 50.6% and 37.4%, respectively, year-on-year (YoY) during January-July 2023.

Similarly, other key markets such as the UK and India also registered 28.4% and 42.9% decline in VC funding deal volume while the corresponding deal value fell by 54.3% and 72.5%, respectively, during January-July 2022.

China, apart from the top APAC market, is also a key global market for VC funding activity and strands just next to the US in terms of deal volume as well as value. China accounted for 14.9% of the total number of VC deals announced globally during January-July 2023 while its share of the corresponding deal value stood at 16.4%.

Some of the notable VC funding deals announced in China during January-July 2023 include $750 million secured by Zeekr, $623 million raised by Xiamen Hithium Storage Technology, $600 million secured by Farizon Auto, and $375 million fundraising by Libode.

Bose concludes: "As the venture capital landscape continues to evolve, China's position remains pivotal, poised to wield its influence in shaping the worldwide trajectory of innovation and investment."

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.

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Notes to Editors

  • Quotes are provided by Aurojyoti Bose, Lead Analyst at GlobalData
  • The information is based on GlobalData's Financial 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.

About GlobalData

4,000 of the world's largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData's unique data, expert analysis and innovative solutions, all in one platform. GlobalData's mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

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