New record in fundraising

Source: Xinhua | 2017-02-24

CHINA’S private equity and venture capital fundraising set a new record in 2016, and will continue to rise in 2017 bolstered by a surge of yuan-backed funds, showed a survey released by consultancy PwC China yesterday.

A record US$72.51 billion was raised by PE firms and venture capitalists in China last year, up an annual 49 percent, according to the report.

Yuan funds were worth US$54.89 billion, up 177 percent year on year, and took up 76 percent of total fundraising of the sector.

The number of merger and acquisition deals sealed by Chinese PE firms and venture capitalists more than doubled to 195 last year, up 38 percent from 2015, the report said.