China's venture capital market made strong gains in the second quarter of 2017, as the total value of new venture investments more than tripled to US$10.7 billion, compared to US$3.5 billion recorded during the first three months of the year, according to a KPMG report.
The dramatic quarter-on-quarter increase was distorted somewhat by two massive deals: Didi Chuxing's US$5.5 billion funding round from SoftBank Group Corp., Silver Lake Kraftwerk and others, as well as Toutiao's US$1 billion founding round from Sequoia Capital and CCB International.
Another major VC deal in the quarter was bike sharing company Mobike's US$600 million series E round, led by Tencent Holdings Ltd. The three deals ranked among the top-10 global deals in the quarter.
But in terms of the volume, the number of Chinese VC deals actually dropped slight to 79 d...
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