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China: Firms Put Most Cash into Online Businesses
Source: news.cn
Source Date: Tuesday, July 02, 2013
Focus: Electronic and Mobile Government
Country: China
Created: Jul 09, 2013

China's venture capital and private equity firms quickened their investment pace in June, with the Internet sector getting the most investments and the energy and mineral industry grabbing a total of US$3.9 billion in funding.


There were also more withdrawals by the VC/PE firms last month, according to a report by the Zero2IPO Research Center.


In June 50 investment deals were sealed by the VC/PE firms, up 47.1 percent from May, the report said, adding that 38 of the deals were worth US$4.5 billion.


The investment amount soared 465.1 percent from a month earlier due to a mega injection of US$3.9 billion in PetroChina United Pipelines Co Ltd, the Beijing-based information provider said.


The real estate sector attracted US$250 million in funds while US$109 million went into the agriculture and farming sector.


With 13 companies getting the funds, the Internet industry received the most PE/VC investments. The telecommunication industry was second with nine investments, and machine manufacturing and the media industry attracted four investments each.


The number of withdrawals rose from nine in May to 16 in June, the report said.

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