{"id":3913,"date":"2024-06-14T01:04:52","date_gmt":"2024-06-14T01:04:52","guid":{"rendered":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/?page_id=3913"},"modified":"2024-06-25T04:13:12","modified_gmt":"2024-06-25T04:13:12","slug":"report-china-may-2024","status":"publish","type":"page","link":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-china-may-2024\/","title":{"rendered":"China Deals Barometer Report: Startup funding slumps 32% to a record low in May"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"3913\" class=\"elementor elementor-3913\" 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-335ebad elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"335ebad\" 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-ea7c338\" data-id=\"ea7c338\" 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-1364919 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"1364919\" 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-13b7cfd\" data-id=\"13b7cfd\" 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-ea5f09d elementor-widget elementor-widget-heading\" data-id=\"ea5f09d\" 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\"><h1 style=\"margin-right: 0px; margin-bottom: 1.8125rem; margin-left: 0px; padding: 0px; font-weight: 700; line-height: 1.19; font-size: 2.25rem; color: rgb(33, 37, 41); font-family: Montserrat, system-ui, -apple-system, &quot;Segoe UI&quot;, Roboto, &quot;Helvetica Neue&quot;, Arial, &quot;Noto Sans&quot;, sans-serif, &quot;Apple Color Emoji&quot;, &quot;Segoe UI Emoji&quot;, &quot;Segoe UI Symbol&quot;, &quot;Noto Color Emoji&quot;; white-space-collapse: collapse;\">China Deals Barometer Report: Startup funding slumps 32% to a record low in May<\/h1><\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8de46ee elementor-widget elementor-widget-image\" data-id=\"8de46ee\" 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=\"1960\" height=\"1100\" src=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/china.png\" class=\"attachment-full size-full wp-image-3916\" alt=\"\" srcset=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/china.png 1960w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/china-300x168.png 300w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/china-1024x575.png 1024w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/china-768x431.png 768w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/china-1536x862.png 1536w\" sizes=\"(max-width: 1960px) 100vw, 1960px\" \/>\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-7d12ea3\" data-id=\"7d12ea3\" 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-4917e57 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"4917e57\" 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-9dcc1b5 h-100\" data-id=\"9dcc1b5\" 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-ee0a9a7 elementor-widget elementor-widget-text-editor\" data-id=\"ee0a9a7\" 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-7b73541 elementor-widget elementor-widget-text-editor\" data-id=\"7b73541\" 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>June 11, 2024<\/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-158dfd0 elementor-widget elementor-widget-html\" data-id=\"158dfd0\" 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-4a06ee4 less-content\" data-id=\"4a06ee4\" 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-e65b0f7 elementor-widget elementor-widget-text-editor\" data-id=\"e65b0f7\" 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;\">Venture capital funding for privately-held firms across mainland China, Hong Kong, Macau, and Taiwan plunged 32% to $2.5 billion in May over the previous month, as China\u2019s uneven economic growth and ongoing geopolitical tensions weighed on investor sentiment. This was the lowest amount raised by Chinese startups since <\/span><span style=\"font-weight: 400;\">DealStreetAsia started tracking deals of all sizes in April 2020.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">The number of venture deals in May stopped at 173, down 11.3% <a href=\"https:\/\/www.dealstreetasia.com\/stories\/china-deal-review-april-2024-395099\">from April<\/a>, according to<\/span><span style=\"font-weight: 400;\"> proprietary data compiled by DealStreetAsia.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Although part of the drop can be attributed to the five-day \u201cgolden Week\u201d Labour Day, the number of megadeals (deals worth $100 million or more) was even lower than in the week-long Lunar New Year holidays in February. There were just four megadeals amounting to $1.3 billion in May, compared with six megadeals which raised $1.7 billion in February.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">However, startup fundraising for the first five months of 2024 managed to hold up despite the slump, largely due to the three billion-dollar deals in March that boosted the overall venture funding. The aggregate deal value of $26.3 billion in the first five months was 26.2% more than the $20.8 billion raised during the same period in 2023.\u00a0\u00a0<\/span><\/p><p><img decoding=\"async\" class=\"alignnone size-full wp-image-399313\" src=\"https:\/\/dealstreetwebsite.s3.amazonaws.com\/uploads\/2024\/06\/May-MoM-e1718020189624.png\" alt=\"\" width=\"4408\" height=\"2601\" \/><\/p><h3>Generative AI firm clinches the biggest deal<\/h3><p><span style=\"font-weight: 400;\">The largest venture deal in May was raised by <\/span><a href=\"https:\/\/www.dealstreetasia.com\/stories\/alibaba-investment-moonshot-397375\"><span style=\"font-weight: 400;\">Moonshot AI<\/span><\/a><span style=\"font-weight: 400;\">, one of the most sought-after startups developing generative AI in China.<\/span><\/p><p><span style=\"font-weight: 400;\">Alibaba Group Holding holds about 36% of preferred stocks in Moonshot AI, with its overall investment in the startup in the year ended March 31 totalling approximately $800 million, the Chinese e-commerce giant disclosed in its latest financial results published on May 24.\u00a0<\/span><\/p><p><a href=\"https:\/\/www.dealstreetasia.com\/stories\/nio-power-unit-financing-398482\"><span style=\"font-weight: 400;\">Nio Power<\/span><\/a><span style=\"font-weight: 400;\">, a subsidiary of the publicly-listed Chinese electric vehicle (EV) maker NIO, sealed the second-largest deal of the month. The firm, which provides electric vehicle (EV) battery-swapping solutions and facilities, pocketed 1.5 billion yuan ($207 million) in a strategic funding round from state-owned investment firm Wuhan Optics Valley Industrial Investment.<\/span><\/p><p><span style=\"font-weight: 400;\">Chinese cybersecurity firm <\/span><a href=\"https:\/\/www.dealstreetasia.com\/stories\/chaitin-tech-fundraising-397417\"><span style=\"font-weight: 400;\">Chaitin Tech<\/span><\/a><span style=\"font-weight: 400;\"> notched the third spot, as it raised over 1 billion yuan ($140.6 million) to pave the way for its future initial public offering (IPO); followed by telehealth platform <\/span><a href=\"https:\/\/www.dealstreetasia.com\/stories\/taidoc-health-funding-395314\"><span style=\"font-weight: 400;\">TaiDoc Health<\/span><\/a><span style=\"font-weight: 400;\">, an associate firm of top Chinese insurer China Pacific Insurance, which raised 920 million yuan ($127.3 million) in its latest funding round.<\/span><\/p><p><img decoding=\"async\" class=\"alignnone size-full wp-image-399349\" src=\"https:\/\/dealstreetwebsite.s3.amazonaws.com\/uploads\/2024\/06\/Updated-megadeal.png\" alt=\"\" width=\"2872\" height=\"1576\" \/><\/p><p><span style=\"font-weight: 400;\">Investments at Series A and earlier funding stages continued to dominate in May\u2014there were 91 transactions in the earliest funding stages, accounting for half (52.6%) of the deal count. Meanwhile, dealmaking close to public listing stages continued to be bleak, with zero deals being sealed at Series E or after.\u00a0<\/span><\/p><h3 style=\"text-align: center;\"><strong>List of megadeals (May 2024)<\/strong><\/h3>\n<table id=\"tablepress-112\" class=\"tablepress tablepress-id-112\">\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\">Unspecified size<\/th><th class=\"column-5\">Investment stage<\/th><th class=\"column-6\">Lead investor(s)<\/th><th class=\"column-7\">Other investor(s)<\/th><th class=\"column-8\">Industry\/Sector<\/th><th class=\"column-9\">Vertical<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-hover\">\n<tr class=\"row-2 even\">\n\t<td class=\"column-1\">Moonshot AI<\/td><td class=\"column-2\">Beijing<\/td><td class=\"column-3\">800<\/td><td class=\"column-4\"><\/td><td class=\"column-5\"><\/td><td class=\"column-6\"><\/td><td class=\"column-7\">Alibaba Group<\/td><td class=\"column-8\">Business Support Services<\/td><td class=\"column-9\">Robotics &amp; Drones<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\">Nio Power<\/td><td class=\"column-2\">Wuhan<\/td><td class=\"column-3\">207<\/td><td class=\"column-4\"><\/td><td class=\"column-5\">Strategic Investment<\/td><td class=\"column-6\">Wuhan Guangchuang Fund (affiliated with Wuhan Optics Valley Industrial Investment)<\/td><td class=\"column-7\"><\/td><td class=\"column-8\">Energy Storage &amp; Batteries<\/td><td class=\"column-9\">Electric\/Hybrid Vehicles<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\">Chaitin Tech<\/td><td class=\"column-2\">Beijing<\/td><td class=\"column-3\">140.6<\/td><td class=\"column-4\"><\/td><td class=\"column-5\"><\/td><td class=\"column-6\">SIG Asset Management, SSF Zhongguancun Independent Innovation Fund (backed by China&#8217;s Social Security Fund and managed by Legend Capital)<\/td><td class=\"column-7\">CAS Investment, APU Investment, Yima Investment Management (affliated with Hundsun Technologies)<\/td><td class=\"column-8\">Cybersecurity<\/td><td class=\"column-9\">N\/A<\/td>\n<\/tr>\n<tr class=\"row-5 odd\">\n\t<td class=\"column-1\">TaiDoc Health<\/td><td class=\"column-2\">Shanghai<\/td><td class=\"column-3\">127.3<\/td><td class=\"column-4\"><\/td><td class=\"column-5\">Strategic Investment <\/td><td class=\"column-6\"><\/td><td class=\"column-7\">SIG Asset Management (affiliated with Shanghai International Group), Mitsui Sumitomo Insurance Group, China Pacific Insurance, HongShan<\/td><td class=\"column-8\">Healthcare Services<\/td><td class=\"column-9\">HealthTech<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-112 from cache --><h3>China amps up its semiconductor game<\/h3><p><span style=\"font-weight: 400;\">It comes as no surprise that China\u2019s chip-making startups completed the most deals in May as the <\/span><span style=\"font-weight: 400;\">country continues to strive for semiconductor self-sufficiency. The strategic sector saw 24 startups raising a total of $243.9 million.<\/span><\/p><p><span style=\"font-weight: 400;\">Most recently, China\u2019s national fund investing in the semiconductor sector, known as the \u201cBig Fund\u201d, raised more than $47.5 billion for its third vehicle, roping in a slew of state-backed firms as limited partners including Industrial and Commercial Bank of China, Bloomberg reported.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Last month, Big Fund II was the co-lead investor in <\/span><span style=\"font-weight: 400;\">Shenyang <a href=\"https:\/\/www.dealstreetasia.com\/stories\/big-fund-ii-siasun-395881\">Siasun Microelectronics<\/a> Equipment<\/span><span style=\"font-weight: 400;\">, <\/span><span style=\"font-weight: 400;\">a subsidiary of China\u2019s state-owned robotics manufacturer Siasun Robot &amp; Automation, as the firm raised 400 million yuan ($55.3 million) in its first external equity fundraising round, making it the top semiconductor deal of the month.\u00a0\u00a0<\/span><\/p><p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-399319 size-full\" src=\"https:\/\/dealstreetwebsite.s3.amazonaws.com\/uploads\/2024\/06\/May-By-Industry-1-e1718020476377.png\" alt=\"\" width=\"4226\" height=\"2725\" \/><\/p><h3>Legend Holdings and affiliates top investor list<\/h3><p><span style=\"font-weight: 400;\">Chinese conglomerate Legend Holdings was the most active investor of the month both in terms of deal count and volume. The group injected around $182.6 million across six startups through its subsidiaries.<\/span><\/p><p><span style=\"font-weight: 400;\">Despite investing in only two deals, Alibaba Group grabbed the limelight thanks to its investment disclosure on Moonshot AI. The Internet giant also invested 200 million yuan ($27.6 million) in Jingzhunxue, an edtech firm that plans to roll out AI-powered hardware for learning.\u00a0<\/span><\/p><h3 style=\"text-align: center;\"><strong>Most active investors in China (May 2024)<\/strong><\/h3>\n<table id=\"tablepress-113\" class=\"tablepress tablepress-id-113\">\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\">Legend Holdings &amp; affiliates<\/td><td class=\"column-2\">6<\/td><td class=\"column-3\">182.6<\/td><td class=\"column-4\">3<\/td><td class=\"column-5\">3<\/td>\n<\/tr>\n<tr class=\"row-3 odd\">\n\t<td class=\"column-1\">CICC Capital &amp; affiliates<\/td><td class=\"column-2\">5<\/td><td class=\"column-3\">182.7<\/td><td class=\"column-4\">1<\/td><td class=\"column-5\">4<\/td>\n<\/tr>\n<tr class=\"row-4 even\">\n\t<td class=\"column-1\">E-Town Capital<\/td><td class=\"column-2\">4<\/td><td class=\"column-3\">45.5<\/td><td class=\"column-4\">3<\/td><td class=\"column-5\">1<\/td>\n<\/tr>\n<tr class=\"row-5 odd\">\n\t<td class=\"column-1\">Shunwei Capital<\/td><td class=\"column-2\">4<\/td><td class=\"column-3\">29.5<\/td><td class=\"column-4\">2<\/td><td class=\"column-5\">2<\/td>\n<\/tr>\n<tr class=\"row-6 even\">\n\t<td class=\"column-1\">Fortune Capital<\/td><td class=\"column-2\">4<\/td><td class=\"column-3\">83.2<\/td><td class=\"column-4\">2<\/td><td class=\"column-5\">2<\/td>\n<\/tr>\n<tr class=\"row-7 odd\">\n\t<td class=\"column-1\">Vision Plus Capital<\/td><td class=\"column-2\">3<\/td><td class=\"column-3\">69.2<\/td><td class=\"column-4\">1<\/td><td class=\"column-5\">2<\/td>\n<\/tr>\n<tr class=\"row-8 even\">\n\t<td class=\"column-1\">Cowin Capital<\/td><td class=\"column-2\">3<\/td><td class=\"column-3\">17<\/td><td class=\"column-4\">1<\/td><td class=\"column-5\">2<\/td>\n<\/tr>\n<tr class=\"row-9 odd\">\n\t<td class=\"column-1\">Alibaba Group<\/td><td class=\"column-2\">2<\/td><td class=\"column-3\">827.6<\/td><td class=\"column-4\">0<\/td><td class=\"column-5\">2<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-113 from cache --><p><em>Note: In our monthly analysis for May 2024, we have put together detailed charts of prominent deals, active investors, deal stages, and the most attractive sectors that 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-ceba02c elementor-align-center viewReport elementor-widget elementor-widget-button\" data-id=\"ceba02c\" data-element_type=\"widget\" id=\"viewReportChina\" 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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<\/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-25 elementor-inner-column elementor-element elementor-element-35c6a5f\" data-id=\"35c6a5f\" 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\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-top-section elementor-element elementor-element-01e45f9 elementor-section-full_width dealPartner-Section elementor-section-height-default elementor-section-height-default\" data-id=\"01e45f9\" 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-0e0978e\" data-id=\"0e0978e\" 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-e642770 elementor-section-full_width elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-section-height-default elementor-section-height-default\" data-id=\"e642770\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\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-8e87de3\" data-id=\"8e87de3\" 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-cd8be33 cover-fit-img elementor-widget elementor-widget-image\" data-id=\"cd8be33\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.dealstreetasia.com\/partner-content\/virtual-dealmaking-dfin-peter-mcmillan\/\" target=\"_blank\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"587\" height=\"444\" src=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2021\/10\/artical-img1.jpg\" class=\"attachment-full size-full wp-image-73\" alt=\"\" srcset=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2021\/10\/artical-img1.jpg 587w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2021\/10\/artical-img1-300x227.jpg 300w\" sizes=\"(max-width: 587px) 100vw, 587px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\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-66 elementor-inner-column elementor-element elementor-element-1d2c537\" data-id=\"1d2c537\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\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-007b2a6 elementor-widget elementor-widget-heading\" data-id=\"007b2a6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">\u2018In an era of virtual dealmaking, stakeholders tend to be more transparent\u2019 \u2013 DFIN\u2019s Peter McMillan<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b9d6737 elementor-widget elementor-widget-text-editor\" data-id=\"b9d6737\" 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>Over half the deals in the next 3 months will be hosted virtually according to 79% of the respondents in DFIN&#8217;s DealMaker Meter Survey. Peter McMillan, Head of Sales for APAC at DCIN speaks of the advantages of virtual dealmaking as well as the pitfalls to be avoided, in an exclusive interview with DealStreetAsia<\/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-d548f4d elementor-widget elementor-widget-button\" data-id=\"d548f4d\" data-element_type=\"widget\" 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-button-link elementor-size-sm\" href=\"https:\/\/www.dealstreetasia.com\/partner-content\/virtual-dealmaking-dfin-peter-mcmillan\/\" target=\"_blank\">\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\">Read Article ...<\/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\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<section class=\"elementor-section elementor-top-section elementor-element elementor-element-18e4980 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"18e4980\" 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-8769d51\" data-id=\"8769d51\" 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-8c31d82 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"8c31d82\" 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-ca1ef33\" data-id=\"ca1ef33\" 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<div class=\"elementor-column elementor-col-33 elementor-inner-column elementor-element elementor-element-3a97726\" data-id=\"3a97726\" 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-71063ee top-shadow elementor-widget elementor-widget-image\" data-id=\"71063ee\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.dfinsolutions.com\/?utm_source=marketing&#038;utm_medium=Paid-Displayt&#038;utm_offer=Website-Form&#038;utm_touch=DealStreetAsia-barometer-ads&#038;utm_content=from-idea-to-ipo&#038;utm_campaign=2021_Q3_APAC_GCM_PaidContent_Barometer&#038;sfcampid=7013b000001ZRmHAAW\" target=\"_blank\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/05\/IPO_LabtoListing_GrayBkgrd_1920x1080_April2024.jpg\" class=\"attachment-full size-full wp-image-3851\" alt=\"\" srcset=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/05\/IPO_LabtoListing_GrayBkgrd_1920x1080_April2024.jpg 1920w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/05\/IPO_LabtoListing_GrayBkgrd_1920x1080_April2024-300x169.jpg 300w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/05\/IPO_LabtoListing_GrayBkgrd_1920x1080_April2024-1024x576.jpg 1024w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/05\/IPO_LabtoListing_GrayBkgrd_1920x1080_April2024-768x432.jpg 768w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/05\/IPO_LabtoListing_GrayBkgrd_1920x1080_April2024-1536x864.jpg 1536w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\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-8c271e5\" data-id=\"8c271e5\" 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\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 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elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0c87a6e elementor-widget elementor-widget-text-editor\" data-id=\"0c87a6e\" 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-7866b92 elementor-position-left related-box elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"7866b92\" 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-may-2024\/\" tabindex=\"-1\"><img loading=\"lazy\" decoding=\"async\" width=\"1956\" height=\"1098\" src=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/sea.png\" class=\"attachment-full size-full wp-image-3914\" alt=\"\" srcset=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/sea.png 1956w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/sea-300x168.png 300w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/sea-1024x575.png 1024w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/sea-768x431.png 768w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/sea-1536x862.png 1536w\" sizes=\"(max-width: 1956px) 100vw, 1956px\" \/><\/a><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\"><a href=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-se-asia-may-2024\/\">SEA Deals Barometer Report: Startup funding rebounds to five-month high of $878m in May<\/a><\/h3><p class=\"elementor-image-box-description\">Capital raised by startups based in Southeast Asia rebounded in May, mostly because of three big-ticket deals sealed in the month, even as the overall fundraising environment remains subdued compared with 2023 levels.<\/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-fd78531\" data-id=\"fd78531\" 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-97ed822 elementor-widget elementor-widget-text-editor\" data-id=\"97ed822\" 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-5341de7 elementor-position-left related-box elementor-vertical-align-top elementor-widget elementor-widget-image-box\" data-id=\"5341de7\" 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-may-2024\/\" tabindex=\"-1\"><img loading=\"lazy\" decoding=\"async\" width=\"1958\" height=\"1100\" src=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/india.png\" class=\"attachment-full size-full wp-image-3915\" alt=\"\" srcset=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/india.png 1958w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/india-300x169.png 300w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/india-1024x575.png 1024w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/india-768x431.png 768w, https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-content\/uploads\/2024\/06\/india-1536x863.png 1536w\" sizes=\"(max-width: 1958px) 100vw, 1958px\" \/><\/a><\/figure><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\"><a href=\"https:\/\/www.dealstreetasia.com\/dealsbarometer\/report-india-may-2024\/\">India Deals Barometer Report:  At $1.9b, startup fundraising in May hits nearly two-year high<\/a><\/h3><p class=\"elementor-image-box-description\">After encountering periods of uncertainty and slowdown, startup fundraising in India hit its highest in nearly two years at $1.9 billion in May as a result of a spurt in megadeals, according to proprietary data compiled by DealStreetAsia. The big-ticket deals had dried up over the last seven quarters owing to a prolonged funding winter.\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: Startup funding slumps 32% to a record low in May By Stephanie Li June 11, 2024 Venture capital funding for privately-held firms across mainland China, Hong Kong, Macau, and Taiwan plunged 32% to $2.5 billion in May over the previous month, as China\u2019s uneven economic growth and ongoing geopolitical tensions weighed [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":3916,"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-3913","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\/3913","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\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/comments?post=3913"}],"version-history":[{"count":15,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/pages\/3913\/revisions"}],"predecessor-version":[{"id":3968,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/pages\/3913\/revisions\/3968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/media\/3916"}],"wp:attachment":[{"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/media?parent=3913"}],"wp:term":[{"taxonomy":"deals-type","embeddable":true,"href":"https:\/\/www.dealstreetasia.com\/dealsbarometer\/wp-json\/wp\/v2\/deals-type?post=3913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}