Crouching Tiger. Hidden Dragon.
No, I’m not writing a movie review. I’m talking about China, a country that’s surprised many by the way it’s pounced on the global economy. The dragon has finally come out of hiding. And it’s come out LOUD.
At a time when the world is going sick in the stomach worrying about recession in the U.S., China completed 73 VC deals in the 1st quarter. Together, they were valued at US $585 million, and represented almost 13% growth as compared to the deals completed in the same period a year earlier, according to a report released by ChinaVenture. The number of deals completed was basically the same as the 1st quarter of 2007’s, but the average size of the deal was up 11.3% at US $8.02 million.
Apparently, China continues to be the hotspot for VC deals despite the global economic slowdown. Zero2IPO reported the total investment amount jumped 82.7% year-on-year to US $3.25 billion last year.
U..S’ credit crisis and slumping stock and housing markets might have made investing in China, the economic powerhouse, the next logical step. According to the MoneyTree Report, in 2007, venture capitalists from the U.S. alone have invested a record $1.4 billion in China, making US the largest source of VC funding in the country.
* For series, references are published in the last installment of the series.
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