{"id":2313,"date":"2023-07-27T18:32:05","date_gmt":"2023-07-27T18:32:05","guid":{"rendered":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/?page_id=2313"},"modified":"2023-07-27T19:00:11","modified_gmt":"2023-07-27T19:00:11","slug":"report-china-jun-2023","status":"publish","type":"page","link":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-china-jun-2023\/","title":{"rendered":"China Deals Barometer: At $4.8b, PE-VC dealmaking rebounds to hit four-month high in June"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"2313\" class=\"elementor elementor-2313\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3b5f848 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"3b5f848\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d377be0\" data-id=\"d377be0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-e9804d9 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"e9804d9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-66 elementor-inner-column elementor-element elementor-element-2e6c818\" data-id=\"2e6c818\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2a5ba58 elementor-widget elementor-widget-heading\" data-id=\"2a5ba58\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">China Deals Barometer Report: At $4.8b, PE-VC dealmaking rebounds to hit four-month high in June<br><\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d42463d elementor-widget elementor-widget-image\" data-id=\"d42463d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"978\" height=\"499\" src=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-chinaDeals-Barometer-Featured-Images.png\" class=\"attachment-full size-full wp-image-2291\" alt=\"\" srcset=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-chinaDeals-Barometer-Featured-Images.png 978w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-chinaDeals-Barometer-Featured-Images-300x153.png 300w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-chinaDeals-Barometer-Featured-Images-768x392.png 768w\" sizes=\"(max-width: 978px) 100vw, 978px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-b7820ee\" data-id=\"b7820ee\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-e0f1be1 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"e0f1be1\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-1b79b7d h-100\" data-id=\"1b79b7d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ce75793 elementor-widget elementor-widget-text-editor\" data-id=\"ce75793\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>By <a href=\"#\">Stephanie Li<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-43ae895 elementor-widget elementor-widget-text-editor\" data-id=\"43ae895\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>July 15, 2023<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3312e6a elementor-widget elementor-widget-html\" data-id=\"3312e6a\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"card-footer bg-white div-social-icons d-print-none\">\r\n    <ul class=\"nav\">\r\n        <li>\r\n            <a class=\"nav-link\" href=\"#\" target=\"_blank\"><i class=\"fa fa-facebook-f\"><\/i><\/a>\r\n        <\/li>\r\n        <li>\r\n            <a class=\"nav-link\" href=\"#\" target=\"_blank\"><i class=\"fa fa-twitter\"><\/i><\/a>\r\n        <\/li>\r\n\r\n        <li>\r\n            <a class=\"nav-link\" href=\"#\"><i class=\"fa fa-envelope\"><\/i><\/a>\r\n        <\/li>\r\n        <li>\r\n            <div class=\"dropdown-social\">\r\n                <a class=\"nav-link dropdown-toggle\" type=\"button\" id=\"dropdownMenuButton1\" data-bs-toggle=\"dropdown\" aria-expanded=\"false\"><i class=\"fa fa-share-alt\"><\/i><\/a>\r\n                <div class=\"dropdown-menu dropdown-menu-right\" aria-labelledby=\"dropdownMenuButton1\">\r\n                    <a href=\"#\" target=\"_blank\"><i class=\"fa fa-reddit-alien fa-2x\"><\/i><\/a>\r\n                    <a href=\"#\" target=\"_blank\"><i class=\"fa fa-linkedin fa-2x\"><\/i><\/a>\r\n                    <a href=\"#\" target=\"_blank\" data-action=\"\/share\/whatsapp\/share\"><i class=\"fa fa-whatsapp fa-2x\"><\/i><\/a>\r\n                <\/div>\r\n            <\/div>\r\n        <\/li>\r\n\r\n    <\/ul>\r\n<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-0c1e279 less-content\" data-id=\"0c1e279\" data-element_type=\"column\" id=\"showContent\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a38e8d5 elementor-widget elementor-widget-text-editor\" data-id=\"a38e8d5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Dealmaking activity in Greater China rebounded to a four-month high in June as 231 startups raised a combined $4.8 billion, a 75.7% month-on-month (MoM) jump, according to proprietary data compiled by DealStreetAsia.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">The deal count of 231 in June marked a growth of 17.3% from the prior month, the data showed. <\/span><\/p><p><span style=\"font-weight: 400;\">In terms of a year-on-year (YoY) comparison, the deal volume in June dropped by 5.7% over the same month last year, while the deal value increased slightly by 2.7%.<\/span><\/p><p><span style=\"font-weight: 400;\">When it comes to the first six months of this year, startups in Greater China collectively secured $25.7 billion across 1,253 venture deals. The deal value booked a 8.8% growth over the same period in 2022, while deal volume spiked 29.4%.<\/span><\/p><p><img decoding=\"async\" class=\"aligncenter wp-image-351750 size-full\" src=\"https:\/\/dealstreetwebsite.s3.amazonaws.com\/uploads\/2023\/07\/Screenshot-2023-07-07-at-5.23.20-PM.png\" alt=\"\" width=\"1904\" height=\"1004\" \/><\/p><h3><strong>Megadeals make up almost 60% of deal value<\/strong><\/h3><p><span style=\"font-weight: 400;\">There were 13 megadeals \u2014 transactions worth at least $100 million \u2014 in June, compared with only five in the previous month. The 13 big-ticket deals raised a combined $2.9 billion, which was up 93% from May\u2019s $1.5 billion, and accounted for 59.4% of the total startup financing in June 2023.<\/span><\/p><p><a href=\"https:\/\/www.dealstreetasia.com\/stories\/yasc-funding-350169\"><span style=\"font-weight: 400;\">Anhui YOFC Advanced Semiconductor Company<\/span><\/a><span style=\"font-weight: 400;\"> (YASC), which engages in the R&amp;D and manufacture of third-generation semiconductor products using materials including silicon carbide (SiC) and gallium nitride (GaN), was the top scorer of the month.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">As the largest semiconductor deal in China this year, the firm notched 3.8 billion yuan ($562.3 million) in a Series A financing round, participated by a slew of notable state-affiliated investors such as CNBM New Materials Fund and CICC Capital.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Third-generation semiconductors such as silicon carbide, known as SiC, are equipped with better energy efficiency compared with silicon, which is crucial when it comes to lowering carbon emissions. They <\/span><span style=\"font-weight: 400;\">are becoming increasingly crucial in sectors including new energy vehicles and mobile communication industry, as China strives for self-reliance in chipmaking amid intensifying crackdown from the US.<\/span><\/p><p><span style=\"font-weight: 400;\">The second-largest deal of the month was secured by <\/span><a href=\"https:\/\/www.dealstreetasia.com\/stories\/china-eswin-computer-series-d-348503\"><span style=\"font-weight: 400;\">ESWIN Computer Technology,<\/span><\/a><span style=\"font-weight: 400;\"> a Chinese provider of artificial intelligence of things (AIoT) chips and services, which secured 3 billion yuan ($421 million) in a Series D financing round co-led by two state-owned investment platforms \u2014 Beijing Financial Street Capital Operation Group and Guoxin Venture Capital.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">In another semiconductor megadeal in June, Jiangsu <\/span><a href=\"https:\/\/www.dealstreetasia.com\/stories\/xinhua-series-b-round-346942\"><span style=\"font-weight: 400;\">Xinhua Semiconductor Technology<\/span><\/a><span style=\"font-weight: 400;\"> also snapped 1 billion yuan ($140.5 million) in a Series B funding round participated by CNBM New Materials Fund, CCB Investment, and Oriza-Rivertown Capital, among others.<\/span><\/p><p><img decoding=\"async\" class=\"aligncenter wp-image-351732 size-full\" src=\"https:\/\/dealstreetwebsite.s3.amazonaws.com\/uploads\/2023\/07\/Screenshot-2023-07-07-at-2.14.17-PM.png\" alt=\"\" width=\"2692\" height=\"1574\" \/><\/p><p><span style=\"font-weight: 400;\">Investments at Series A and earlier funding stages continued to dominate the fundraising scene, accounting for 58.4% of the month\u2019s total deal count. The early-stage deals amassed $1.8 billion, or 37.3% of the total deal value.\u00a0\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">In contrast, Series E and later funding stages only booked two venture deals worth $29 million, which shows that investors remain picky with late-stage bets. <\/span><\/p>\n<table id=\"tablepress-80\" class=\"tablepress tablepress-id-80\">\n<thead>\n<tr class=\"row-1 odd\">\n\t<th class=\"column-1\">Startup<\/th><th class=\"column-2\">Headquarters<\/th><th class=\"column-3\">Investment size (Million USD)<\/th><th class=\"column-4\">Investment stage<\/th><th class=\"column-5\">Lead investor(s)<\/th><th class=\"column-6\">Other investor(s)<\/th><th class=\"column-7\">Industry\/Sector<\/th><th class=\"column-8\">Vertical<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-hover\">\n<tr class=\"row-2 even\">\n\t<td class=\"column-1\">YOFC Advanced Semiconductor<\/td><td class=\"column-2\">Wuhu<\/td><td class=\"column-3\">562.3<\/td><td class=\"column-4\">A<\/td><td class=\"column-5\"><\/td><td class=\"column-6\">Optics Valley Industry Development Fund, Zhongping Capital, Winsoul Capital, CNBM New Materials Fund, Jiaxing Guoping, and others<\/td><td class=\"column-7\">Semiconductor<\/td><td class=\"column-8\">N\/A<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\">ESWIN Computer Technology<\/td><td class=\"column-2\">Beijing<\/td><td class=\"column-3\">421<\/td><td class=\"column-4\">D <\/td><td class=\"column-5\">Beijing Financial Street Capital Operation Group, Guoxin Venture Capital<\/td><td class=\"column-6\">Hefei Ruicheng Private Equity Fund Management, Sino-Singapore Connectivity Private Equity Fund Management, Yixing Private Equity Fund Management, Ultra-HD Video Industry Fund, Goldport Capital, and others<\/td><td class=\"column-7\">Semiconductor<\/td><td class=\"column-8\">Internet of Things<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\">Light Year<\/td><td class=\"column-2\">Beijing<\/td><td class=\"column-3\">284.4<\/td><td class=\"column-4\">M&amp;A<\/td><td class=\"column-5\">Meituan <\/td><td class=\"column-6\"><\/td><td class=\"column-7\">Software<\/td><td class=\"column-8\">AI and Machine Learning<\/td>\n<\/tr>\n<tr class=\"row-5 odd\">\n\t<td class=\"column-1\">Beijing West Smart Mobility Zhangjiakou Automotive Electronics (BWSM)<\/td><td class=\"column-2\">Zhangjiakou<\/td><td class=\"column-3\">279.3<\/td><td class=\"column-4\">A <\/td><td class=\"column-5\">Zhangjiakou Financial Holding Group<\/td><td class=\"column-6\">Shenzhen Shenshan Special Cooperation Zone, Yunshi Huanqiu Capital, HOPU Investments, Shenzhen Investment Holdings<\/td><td class=\"column-7\">Automobiles &amp; Parts<\/td><td class=\"column-8\">Electric\/Hybrid Vehicles<\/td>\n<\/tr>\n<tr class=\"row-6 even\">\n\t<td class=\"column-1\">Sunwoda Electric Vehicle Battery<\/td><td class=\"column-2\">Shenzhen <\/td><td class=\"column-3\">228.3<\/td><td class=\"column-4\">B<\/td><td class=\"column-5\"><\/td><td class=\"column-6\">BOC Financial Asset Investment, CCB Private Equity Investment Management, CCB Investment, Chongqing Manufacturing Industry Transformation and Upgrading Fund, China Life Private Equity Investment (affiliated with China Life Insurance Company), and others<\/td><td class=\"column-7\">Energy Storage &amp; Batteries<\/td><td class=\"column-8\">Electric\/Hybrid Vehicles<\/td>\n<\/tr>\n<tr class=\"row-7 odd\">\n\t<td class=\"column-1\">United Aircraft<\/td><td class=\"column-2\">Shenzhen<\/td><td class=\"column-3\">167.1<\/td><td class=\"column-4\">D+<\/td><td class=\"column-5\">Longjiang Fund<\/td><td class=\"column-6\">Lianhe Keli Venture Capital, Heilongjiang Senjiang Industry Investment Group, Longjiang Venture Capital, Harbin Keli Venture Capital Management, Harbin Venture Capital Group, and others<\/td><td class=\"column-7\">Aerospace<\/td><td class=\"column-8\">AI and Machine Learning<\/td>\n<\/tr>\n<tr class=\"row-8 even\">\n\t<td class=\"column-1\">Singularity AI Technology<\/td><td class=\"column-2\">Beijing<\/td><td class=\"column-3\">160<\/td><td class=\"column-4\"><\/td><td class=\"column-5\">Star Group Interactive Inc (affiliated with Kunlun Tech)<\/td><td class=\"column-6\"><\/td><td class=\"column-7\">Software<\/td><td class=\"column-8\">AI and Machine Learning<\/td>\n<\/tr>\n<tr class=\"row-9 odd\">\n\t<td class=\"column-1\">Worg Pharmaceuticals<\/td><td class=\"column-2\">Shanghai<\/td><td class=\"column-3\">151.7<\/td><td class=\"column-4\">C<\/td><td class=\"column-5\"><\/td><td class=\"column-6\">Detong Capital, Baron Capital, Bayland Capital, Jiansu Capital, Kequan Investment, and others<\/td><td class=\"column-7\">Biotech<\/td><td class=\"column-8\">Biotech<\/td>\n<\/tr>\n<tr class=\"row-10 even\">\n\t<td class=\"column-1\">VIVA Shanghai<\/td><td class=\"column-2\">Shanghai<\/td><td class=\"column-3\">150<\/td><td class=\"column-4\">Equity Financing <\/td><td class=\"column-5\"><\/td><td class=\"column-6\">HLC SPV (affiliated with HighLight Capital), Qingdao Hongyi (affiliated with HighLight Capital), Daxue Investments (affiliated with Temasek Holdings), True Light P (affiliated with Temasek Holdings)<\/td><td class=\"column-7\">Healthcare Services<\/td><td class=\"column-8\">Biotech<\/td>\n<\/tr>\n<tr class=\"row-11 odd\">\n\t<td class=\"column-1\">Xinhua Semiconductor Technology<\/td><td class=\"column-2\">Xuzhou<\/td><td class=\"column-3\">140.5<\/td><td class=\"column-4\">B<\/td><td class=\"column-5\"><\/td><td class=\"column-6\">CNBM New Materials Fund, CCB Investment, Shanghai Pudong Innotek Capital, Chengdu Science &amp; Technology Innovation Investment Group, CRCC Transformation and Upgrade Fund, and others<\/td><td class=\"column-7\">Semiconductor<\/td><td class=\"column-8\">N\/A<\/td>\n<\/tr>\n<tr class=\"row-12 even\">\n\t<td class=\"column-1\">Ruqi Mobility\/Chenqi Technology<\/td><td class=\"column-2\">Guangzhou<\/td><td class=\"column-3\">117.2<\/td><td class=\"column-4\">B  <\/td><td class=\"column-5\">Guangzhou Automobile Industry Group (controlling shareholder of GAC Group)<\/td><td class=\"column-6\"><\/td><td class=\"column-7\">Transportation Services<\/td><td class=\"column-8\">Ridesharing\/Transport<\/td>\n<\/tr>\n<tr class=\"row-13 odd\">\n\t<td class=\"column-1\">Cornerstone Robotics<\/td><td class=\"column-2\">Shenzhen <\/td><td class=\"column-3\">110.3<\/td><td class=\"column-4\"><\/td><td class=\"column-5\"><\/td><td class=\"column-6\">BridgeOne Capital, Lenovo Capital and Incubator Group (affiliated with Legend Holdings), Tsing Song Capital, DragonBall Capital (affiliated with Meituan), Qiming Venture Partners, and others<\/td><td class=\"column-7\">Medical Devices &amp; Equipment<\/td><td class=\"column-8\">HealthTech<\/td>\n<\/tr>\n<tr class=\"row-14 even\">\n\t<td class=\"column-1\">OpenSource Consensus Technologies (OSChina)<\/td><td class=\"column-2\">Shenzhen <\/td><td class=\"column-3\">107.3<\/td><td class=\"column-4\">B+<\/td><td class=\"column-5\">FutureX Capital<\/td><td class=\"column-6\">Winreal Investment, Haiwang Capital (affiliated with Spinnotec), Tianjin TEDA Investment Holding, Shanghai Pudong Software Park, Shanghai Zhangjiang Science and Technology Investment (affiliated with Shanghai Zhangjiang Group), and others<\/td><td class=\"column-7\">Software<\/td><td class=\"column-8\">Cloud Computing<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><strong>Energy storage bags highest number of deals<\/strong><\/h3><p><span style=\"font-weight: 400;\">China\u2019s 2060 carbon neutrality target has prompted companies from the new energy to energy storage and management sectors to turbocharge the country\u2019s energy transition. Energy storage, in particular, saw heightened investor interest with 31 venture deals worth $533.5 million \u2014 the most favoured sector in June in terms of deal count.\u00a0<\/span><span style=\"font-weight: 400;\">In one of the biggest deals in this sector, Sunwoda Electric Vehicle Battery (EVB) bagged 1.65 billion yuan ($228.3 million) in an equity financing round.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Unsurprisingly, semiconductor ranked first in terms of deal value, with the completion of 29 venture deals worth $1.3 billion.\u00a0<\/span><\/p><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-351731 size-full\" src=\"https:\/\/dealstreetwebsite.s3.amazonaws.com\/uploads\/2023\/07\/Screenshot-2023-07-07-at-1.58.19-PM.png\" alt=\"\" width=\"1810\" height=\"1026\" \/><\/p><p><span style=\"font-weight: 400;\">Software was the second most-funded sector, sealing 16 deals worth $658.8 million. A total of three megadeals took place in the sector, including <\/span><a href=\"https:\/\/www.dealstreetasia.com\/stories\/meituan-buying-all-shares-light-year-350412\"><span style=\"font-weight: 400;\">Light Year<\/span><\/a><span style=\"font-weight: 400;\">, a nascent artificial intelligence (AI) company, which was acquired by Chinese food delivery giant <\/span><a href=\"https:\/\/www.dealstreetasia.com\/search\/page\/1?s=Meituan&amp;sort_by=recent\"><span style=\"font-weight: 400;\">Meituan<\/span><\/a><span style=\"font-weight: 400;\">. The deal consisted of almost $233.7 million in cash and over 366.9 million yuan ($50.7 million) worth of debt, per<\/span><span style=\"font-weight: 400;\"> exchange filing<\/span><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">In another megadeal in the sector, <\/span><a href=\"https:\/\/www.dealstreetasia.com\/stories\/kunlun-tech-capital-boost-348061\"><span style=\"font-weight: 400;\">Singularity AI Technology Limited<\/span><\/a><span style=\"font-weight: 400;\">, was acquired by Kunlun Tech via its holding subsidiary Star Group Interactive Inc. Kunlun Tech was planning a $400-million capital injection into its subsidiary to acquire all the equity of the AI firm via share issue.\u00a0<\/span><\/p><h3><strong>CICC Capital &amp; affiliates top investors&#8217; list<\/strong><\/h3><p><span style=\"font-weight: 400;\">CICC Capital, the flagship private equity (PE) unit of Chinese investment bank China International Capital Corp Ltd (CICC), and its affiliates were the top investors of June, participating in nine deals alongside other investors. The nine startups raised a total of $671.7 million.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">In July, the firm closed a new blind-pool equity investment fund at <\/span><a href=\"https:\/\/www.dealstreetasia.com\/stories\/china-digest-gba-fund-cicc-qichen-350862\"><span style=\"font-weight: 400;\">4.2 billion yuan<\/span><\/a><span style=\"font-weight: 400;\"> ($579.2 million) to focus on the technology industry, roping in capital commitments from privately-run financial institutions, listed companies, tech firms, as well as China\u2019s government guidance funds and state-owned companies, the firm said in a statement.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Oriza Holdings, a state-owned investment firm in eastern China\u2019s Suzhou City, ranked second last month with investments in six deals alongside its affiliates.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">June also saw venture capital powerhouse Sequoia split into three independent entities \u2014 Peak XV Partners, which will focus on India &amp; Southeast Asia, HongShan to focus on China, and Sequoia Capital representing the US and Europe. <\/span><span style=\"font-weight: 400;\">The split-up did not seem to hinder HongShan\u2018s dealmaking activity, which injected capital into five startups in June.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">\n<table id=\"tablepress-81\" class=\"tablepress tablepress-id-81\">\n<thead>\n<tr class=\"row-1 odd\">\n\t<th class=\"column-1\">Investment company<\/th><th class=\"column-2\">No. of deals<\/th><th class=\"column-3\">Total value of participated deals (Million USD)<\/th><th class=\"column-4\">Lead<\/th><th class=\"column-5\">Non-lead<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-hover\">\n<tr class=\"row-2 even\">\n\t<td class=\"column-1\">CICC and affiliates<\/td><td class=\"column-2\">9<\/td><td class=\"column-3\">671.7<\/td><td class=\"column-4\">2<\/td><td class=\"column-5\">7<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\">Oriza Holdings and affiliates<\/td><td class=\"column-2\">6<\/td><td class=\"column-3\">215.9<\/td><td class=\"column-4\">1<\/td><td class=\"column-5\">5<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\">Legend Holdings&#8217; affiliates<\/td><td class=\"column-2\">5<\/td><td class=\"column-3\">261.1<\/td><td class=\"column-4\">2<\/td><td class=\"column-5\">4<\/td>\n<\/tr>\n<tr class=\"row-5 odd\">\n\t<td class=\"column-1\">HongShan (previously Sequoia Capital China)<\/td><td class=\"column-2\">5<\/td><td class=\"column-3\">100.2<\/td><td class=\"column-4\">1<\/td><td class=\"column-5\">4<\/td>\n<\/tr>\n<tr class=\"row-6 even\">\n\t<td class=\"column-1\">Qiming Venture Partners<\/td><td class=\"column-2\">5<\/td><td class=\"column-3\">155.3<\/td><td class=\"column-4\">3<\/td><td class=\"column-5\">2<\/td>\n<\/tr>\n<tr class=\"row-7 odd\">\n\t<td class=\"column-1\">Cowin Capital<\/td><td class=\"column-2\">5<\/td><td class=\"column-3\">33.5<\/td><td class=\"column-4\">3<\/td><td class=\"column-5\">2<\/td>\n<\/tr>\n<tr class=\"row-8 even\">\n\t<td class=\"column-1\">Everest VC<\/td><td class=\"column-2\">5<\/td><td class=\"column-3\">46.5<\/td><td class=\"column-4\">3<\/td><td class=\"column-5\">2<\/td>\n<\/tr>\n<tr class=\"row-9 odd\">\n\t<td class=\"column-1\">Shanghai STVC Group<\/td><td class=\"column-2\">4<\/td><td class=\"column-3\">144.2<\/td><td class=\"column-4\">2<\/td><td class=\"column-5\">2<\/td>\n<\/tr>\n<tr class=\"row-10 even\">\n\t<td class=\"column-1\">CoStone Capital<\/td><td class=\"column-2\">4<\/td><td class=\"column-3\">51.4<\/td><td class=\"column-4\">2<\/td><td class=\"column-5\">2<\/td>\n<\/tr>\n<tr class=\"row-11 odd\">\n\t<td class=\"column-1\">Zhencheng Capital<\/td><td class=\"column-2\">4<\/td><td class=\"column-3\">5.5<\/td><td class=\"column-4\">4<\/td><td class=\"column-5\">0<\/td>\n<\/tr>\n<tr class=\"row-12 even\">\n\t<td class=\"column-1\">CAS Star<\/td><td class=\"column-2\">4<\/td><td class=\"column-3\">6<\/td><td class=\"column-4\">3<\/td><td class=\"column-5\">1<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/span><\/p><p><em>Note: In our monthly analysis for June 2023, we have put together detailed charts of prominent deals, active investors, deal stages, and the most attractive sectors that have bagged the maximum venture dollars in the Greater China region.<\/em><\/p><p><em>Our database only considers deals officially announced by the related investee, investor(s), and\/or financial advisor, while information based on market rumours and news reports citing sources is excluded.<\/em><\/p><p><em>For a more detailed analysis, and to enable comparison between primary and secondary markets, DealStreetAsia has started tracking deals of all sizes since April 2020, as against considering only transactions worth more than $10 million earlier.<\/em><\/p><p><em>We have also introduced a standardised system for industry classification. It currently includes over 50 industries, as well as over 45 new economy and high-tech verticals, which will progressively increase to adapt to local market conditions in our closely watched regions of Greater China, Southeast Asia, and India.<\/em><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c209b1 elementor-align-center viewReport elementor-widget elementor-widget-button\" data-id=\"3c209b1\" data-element_type=\"widget\" id=\"viewReportIndia\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-size-sm\" role=\"button\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">View Report<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div 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100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}.e-con-inner>.elementor-widget-divider,.e-con>.elementor-widget-divider{width:var(--container-widget-width,100%);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-cf5642e elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"cf5642e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2f5636a\" data-id=\"2f5636a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7b5451f elementor-widget elementor-widget-text-editor\" data-id=\"7b5451f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Venture Capital<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dea15d5 elementor-position-left related-box elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"dea15d5\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.18.0 - 20-12-2023 *\/\n.elementor-widget-image-box .elementor-image-box-content{width:100%}@media (min-width:768px){.elementor-widget-image-box.elementor-position-left .elementor-image-box-wrapper,.elementor-widget-image-box.elementor-position-right .elementor-image-box-wrapper{display:flex}.elementor-widget-image-box.elementor-position-right .elementor-image-box-wrapper{text-align:right;flex-direction:row-reverse}.elementor-widget-image-box.elementor-position-left .elementor-image-box-wrapper{text-align:left;flex-direction:row}.elementor-widget-image-box.elementor-position-top .elementor-image-box-img{margin:auto}.elementor-widget-image-box.elementor-vertical-align-top .elementor-image-box-wrapper{align-items:flex-start}.elementor-widget-image-box.elementor-vertical-align-middle .elementor-image-box-wrapper{align-items:center}.elementor-widget-image-box.elementor-vertical-align-bottom .elementor-image-box-wrapper{align-items:flex-end}}@media (max-width:767px){.elementor-widget-image-box .elementor-image-box-img{margin-left:auto!important;margin-right:auto!important;margin-bottom:15px}}.elementor-widget-image-box .elementor-image-box-img{display:inline-block}.elementor-widget-image-box .elementor-image-box-title a{color:inherit}.elementor-widget-image-box .elementor-image-box-wrapper{text-align:center}.elementor-widget-image-box .elementor-image-box-description{margin:0}<\/style><div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><a href=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-se-asia-jun-2023\/\" tabindex=\"-1\"><img loading=\"lazy\" decoding=\"async\" width=\"978\" height=\"499\" src=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-se-asiaDeals-Barometer-Featured-Images.png\" class=\"attachment-full size-full wp-image-2289\" alt=\"\" srcset=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-se-asiaDeals-Barometer-Featured-Images.png 978w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-se-asiaDeals-Barometer-Featured-Images-300x153.png 300w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-se-asiaDeals-Barometer-Featured-Images-768x392.png 768w\" sizes=\"(max-width: 978px) 100vw, 978px\" \/><\/a><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\"><a href=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-se-asia-jun-2023\/\">SE Asia Deals Barometer Report: Startup fundraising falls to four-month low of $445m in June<\/a><\/h3><p class=\"elementor-image-box-description\">Dealmaking in Southeast Asia dropped by almost 58% month-on-month in June to about $445 million\u2014the lowest since March this year\u2014as megadeals remained elusive in the month, show proprietary data compiled by DealStreetAsia.<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3a38c60\" data-id=\"3a38c60\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f0312bf elementor-widget elementor-widget-text-editor\" data-id=\"f0312bf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Venture Capital<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b7ed5ef elementor-position-left related-box elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"b7ed5ef\" data-element_type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-image-box-wrapper\"><figure class=\"elementor-image-box-img\"><a href=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-india-jun-2023\/\" tabindex=\"-1\"><img loading=\"lazy\" decoding=\"async\" width=\"978\" height=\"499\" src=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-indiaDeals-Barometer-Featured-Images-1.png\" class=\"attachment-full size-full wp-image-2301\" alt=\"\" srcset=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-indiaDeals-Barometer-Featured-Images-1.png 978w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-indiaDeals-Barometer-Featured-Images-1-300x153.png 300w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2023\/07\/June2023-indiaDeals-Barometer-Featured-Images-1-768x392.png 768w\" sizes=\"(max-width: 978px) 100vw, 978px\" \/><\/a><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\"><a href=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-india-jun-2023\/\">India Deals Barometer Report: Startup funding drops to 34-month low at $652m in June<\/a><\/h3><p class=\"elementor-image-box-description\"> After rebounding to touch a high of $1.5 billion in May this year, private equity and venture capital investments in India plunged to $652 million in June, hitting a 34-month low, according to proprietary data compiled by DealStreetAsia.\n<\/p><\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>China Deals Barometer Report: At $4.8b, PE-VC dealmaking rebounds to hit four-month high in June By Stephanie Li July 15, 2023 Dealmaking activity in Greater China rebounded to a four-month high in June as 231 startups raised a combined $4.8 billion, a 75.7% month-on-month (MoM) jump, according to proprietary data compiled by DealStreetAsia.\u00a0 The deal [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":2291,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-parts\/elementor-sidebar-template.php","meta":{"footnotes":""},"deals-type":[],"class_list":["post-2313","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/pages\/2313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/comments?post=2313"}],"version-history":[{"count":10,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/pages\/2313\/revisions"}],"predecessor-version":[{"id":2342,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/pages\/2313\/revisions\/2342"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/media\/2291"}],"wp:attachment":[{"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/media?parent=2313"}],"wp:term":[{"taxonomy":"deals-type","embeddable":true,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/deals-type?post=2313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}