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Investment in startups is booming
From:Shanghai Daily  |  2017-07-14 09:51

Venture capital investment in Chinese startups tripled in the second quarter, driven by an uptick in mega-deals and is expected to maintain that momentum in Q3, KPMG said in a report released yesterday.

The number of deals was relatively stable from the previous quarter at 79, but the amount tripled to US$10.7 billion.

This sharp rise was bolstered by two mega deals: ride-hailing platform Didi Chuxing raised US$5.5 billion and news aggregator Toutiao raised US$1 billion.

Companies offering both high-tech and simple-tech solutions drew increasing attention — a trend expected to continue through this quarter.

The hottest sectors are artificial intelligence, robotics, fintech, edtech and healthtech. Companies with simple business models also attracted significant investment.

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