The story appears on

Page A9

May 27, 2016

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Finance

China takes bulk of VC funds for fintech

CHINESE firms attracted 49 percent of the global venture capital investment in financial technology companies in the first quarter, with JD Finance and Lu.com both securing US$1 billion deals, according to an industry report released yesterday.

Of the US$4.9 billion invested around the world in the period, Asia picked up US$2.6 billion — of which US$2.4 billion went to China — followed by North America with US$1.8 billion, Europe at US$348 million, KPMG International and CB Insights said in a joint report.

After a slump in activity in the final quarter of 2015, the number of VC-backed fintech deals completed in the first three months of this year rose to a new quarterly high of 218, the report said.

“Investors are putting money into fintech all over the world, ranging from the strongholds of China, the US and the UK, to up and coming hubs like Singapore, Australia and Ireland,” said Warren Mead at KPMG International.

“Global VC investment in the technology sector may be experiencing a bit of a pause, but fintech, propelled by some very large mega-rounds, has proven to be an exception,” he said.

Funding in the second quarter of the year is expected to remain high given the already announced US$4.5 billion funding round involving Alibaba’s financial affiliate Ant Financial, which closed in April.

“While fintech startups continue to attract large investments ... recent events suggest that growth-stage fintech fundraising will be harder to come by in 2016,” said CB Insights CEO Anand Sanwal.




 

Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend