BEIJING: China’s venture capital (VC) investment reached a record high in 2018 as a string of big deals led by tech giants drove up market volume, a report showed.

VC investment totalled $70.5 billion last year, surging 52.9 per cent year-on-year, according to the latest quarterly analysis of VC trends by global audit and consultancy firm KPMG.

Overall number of deals in 2018 remained stable at 813, up slightly from 799 in 2017 and China dominated the Asia VC market.

Published in Dawn, February 2nd, 2019