Venture capital investment in Chinese startups tripled in the second quarter, driven by an uptick in mega-deals and is expected to maintain that momentum in Q3, KPMG said in a report released yesterday.
The number of deals was relatively stable from the previous quarter at 79, but the amount tripled to .7 billion.
This sharp rise was bolstered by two mega deals: ride-hailing platform Didi Chuxing raised .5 billion and news aggregator Toutiao raised US billion.
Companies offering both high-tech and simple-tech solutions drew increasing attention — a trend expected to continue through this quarter.
The hottest sectors are artificial intelligence, robotics, fintech, edtech and healthtech. Companies with simple business models also attracted significant investment.