China’s venture capital (VC) funding deals and value fell year-on-year (YoY) in the first eight months of 2024 amid a slowdown in big-ticket transactions.

Deal volume declined 18.5% YoY to 1,761, while funding value decreased 12.6% YoY to $23.3 billion between January and August 2024, according to GlobalData, a data and analytics company.

The decline in total funding value could be attributed to China experiencing a reduction in the volume of high-value VC deals announced during the review period, said Aurojyoti Bose, Lead Analyst at GlobalData.

The number of VC deals valued more than or equal to $100 million fell from 58 to 43 YoY in China during the period.

The US, the UK and India, however, saw funding values rise by 1.9%, 14.8% and 53.1% YoY, respectively.

Overall, China accounted for 16.4% of the total number of VC deals announced globally during January-August 2024. 

Beijing’s total funding value stood at 14.3%, GlobalData said.

(Editing by Seban Scaria seban.scaria@lseg.com)