At $50.5 billion, funds raised by startups in Greater China in 2023 were 5% below the previous year’s levels, even though the deal count was up 13% to 2,588 transactions. The region was unable to sustain the fundraising momentum witnessed in the first quarter of 2023. Fundraising in Q4 plunged 23.7% sequentially to just under $10.8 billion, the lowest since Q2 2020.
Public market fundraising, too, witnessed a slowdown in 2023 as there were just 317 IPOs in 2023 that raised less than $52.1 billion. In comparison, 399 IPOs in 2022 raised $76.3 billion.
Read the Greater China Deal Review: Q4 2023 report for insights into:
- The industries and verticals that raised the most funds
- The funding stages that attracted the most capital
- The startups that raised the most funds in 2023
- The biggest IPOs by Chinese startups in 2023
- What top investors are forecasting for China’s fundraising landscape
