China accounted for half of the world’s top 10 venture capital deals in the third quarter, fintech featured heavily.
China recorded robust venture capital (VC) activity in the third quarter, with the country taking half of the world’s ten largest venture capital deals during the period, according to KPMG’s quarterly global report on venture capital trends.
Artificial intelligence (AI) was a leading sector for deal making according to the report. AI, robotics, and other tech-enabled next-generation sectors in China are attracting significant investment, and the pace is not expected to slow down anytime soon. VC investments are expected to remain relatively steady in the fourth quarter of 2017.
Endless Possibilities
Companies in mainland China attracted $10.2 billion worth of venture capital investments in 95 deals between July and September, accounting for half of the top-ten largest global venture capital deals, and 10 of the top 12 deals in Asia.
«Industries such as financial services and healthcare are concentrating on AI as a means to transform data analytics, but the possibilities are almost endless when it comes to the applicability of AI,» said Egidio Zarrella, partner and head of Clients and Innovation, KPMG China.
