BEIJING/HONG KONG : China-focused venture capital fundraising is heading for its weakest first half year in at least eight years, data from researcher Preqin showed, as a teetering economic recovery and Sino-U.S. tensions unsettle investors and startups.Concern about the impact of a weak business environm
BEIJING/HONG KONG : China-focused venture capital fundraising is heading for its weakest first half year in at least eight years, data from researcher Preqin showed, as a teetering economic recovery and Sino-U.S. tensions unsettle investors and startups.
"Geopolitical de-risking overhang and economic uncertainties have also been impacting the deal making," he said. That compared with $4.11 billion and $4.34 billion equivalent in yuan over January-June last year, and was a far cry from their respective peaks of about $5.52 billion in dollar funds raised in the first half of 2018 and $48.22 billion in yuan funds raised in the same period in 2017.
Consumer sector startups face a prolonged fundraising cycle, said Ji Xing, managing director at financial advisor Lighthouse Capital. "Companies have not been able to achieve desirable valuations in their offshore listings, which have factored into startups' early stage capital raises as investors assess their exit prospects," said Ming Jin, managing partner at boutique investment bank Cygnus Equity.
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