A total of 2,313 venture capital (VC) funding deals were announced in China during January-November 2024, while the total disclosed funding value of these deals stood at $32.3 billion. This represents a year-on-year (YoY) decline of 23.1% in VC deal volume, whereas the total disclosed funding value fell by 22.5%, according to GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Deals Database revealed that a total of 3,006 VC deals were announced in China during January-November 2023 while the total disclosed funding value of these deals was $41.7 billion.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “VC funding activity in China has continued to remain subdued in 2024 as investor sentiments seem to have taken a hit on the back of a crackdown on companies, macroeconomic challenges, and uncertain market conditions. However, despite the decline, China, apart from being the top APAC market for VC funding activity, also continues to be a key global market, standing just next to the US both in terms of deal volume and value.”

China accounted for a 15.2% share of the total number of VC deals announced globally during January-November 2024 while its share in terms of the corresponding funding value stood at 13.6%.

Some of the notable VC funding deals announced in China during January-November 2024 include $1.5 billion worth of funding raised by Changxin Technology, $1.4 billion fundraising by AVATR, $1.1 billion worth funding secured by IM Motors, and $1 billion funding received by Moonshot AI, among others.

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