Jul 11, 2019 (China Knowledge) - China's total venture capital investment in Southeast Asian tech companies totaled USD 3.4 billion in the first half of 2019, up more than 300% year over year. The increase in investment of China's venture capital groups comes as VC activity in China ebbs, while the number of consumers online increases.
In contrast, VC investment in Chinese tech companies in the first half of 2019 totaled USD 9 bln, down 60% year over year. "China's mobile internet growth is slowing down and it has reached maturity," remarks Helen Wong, a partner at Qiming Ventures.
According to a recent report by Google and Temasek (Singapore’s state investment fund), Southeast Asia has 350 million online users, and the value of its internet economy is expected to exceed USD 240 bln by 2025.
Some of China's biggest VC firms are opening offices in Singapore, including Qiming Ventures and GGV Capital. Chinese tech giants Tencent and Alibaba have also both invested heavily in the region in the past few years. The investment helps the development of the region's tech startups, such as Indonesian ecommerce company Tokopedia and ride-hailing group Go-Jek.
Copyright © 2018 www.chinaknowledge.com
Send feedback or comments to: firstname.lastname@example.org
For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: www.chinaknowledge.com
To access our page on Bloomberg, type CKFI