China remains1 the top destination for venture capital (VC) investment in Asia, with 3.6 billion U.S. dollars invested in Q1, accounting2 firm KPMG said in a report.
The volume increased by 100 million dollars from the previous quarter, according to the report on VC investment trends.
out that investors4
in Asia were cautious, with a noticeable decline in the total number of deals, down from 403 in Q4 to 258.
Among a number of unicorns5
, China's bike-sharing platform ofo raised 450 million dollars, the largest bike-sharing investment on record.
Other fundraisings in China in the global top 10 were 600 million dollars for electric vehicle startup NIO, 360 million dollars for courier Hive Box Technology and 350 million dollars going to video sharing and live broadcasting app developer Kuaishou Technology.
In terms of sectors6
, the first quarter saw a significant amount of interest in medtech globally, particularly in the United States, Israel and Canada. The Asian medtech market has yet to achieve a strong presence, the report noted7
, but the potential is significant given the large consumer base.