China’s tech venture capital funding plunges 77% YOY in Q1 · TechNode

China’s tech venture capital funding plunges 77% YOY in Q1 · TechNode
The amount of venture capital funding invested in Chinese tech companies dropped by 76.7% year-on-year to $3.5 billion in the first quarter of 2022, according to a Tuesday report from a government-backed think tank, China Academy of Information and Communication Technology. In addition, the amount of venture capital funding in the first quarter of this year decreased by 42.6% from the fourth quarter of 2021. Enterprise services, e-commerce, and medical healthcare are the most popular categories, representing more than half of the funding cases in the reporting period. The drop in tech venture funding comes amid a more complicated business environment due to regulatory crackdowns and coronavirus outbreaks.

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