TLDR:
Key Points:
- Chinese startups secured $6.4 billion in VC funding in the first two months of 2024.
- This represented a year-on-year decline in deal volume and funding value.
In the first two months of 2024, Chinese startups announced a total of 416 venture capital funding deals amounting to $6.4 billion, showing a decline compared to the same period in 2023. Despite the drop in deal volume and funding value, there was a month-on-month growth in funding value experienced in February. The country also saw the announcement of the first billion-dollar deal in 2024 during that month. Big-ticket VC funding deals included companies like Moonshot AI and Shanghai Spacecom Satellite Technology. China accounted for a significant share of global VC deals during the period, and the emergence of unicorns in the country indicates the strength of its entrepreneurial ecosystem. As China navigates through market conditions, its position as a global powerhouse in VC funding remains strong.
