|
BIZCHINA / Top Biz News |
Venture capital investment in China surges 87% in Q3(Xinhua)
Updated: 2007-11-17 11:17 Venture capital (VC) investment in China surged 87.4 percent to US$677 million in the third quarter, an industry report said. Service-oriented sectors were the most appealing as they attracted a record US$432 million and accounted for nearly half of the 59 deals, according to a joint report by Ernst and Young and Dow Jones VentureOne, a financial information provider. By comparison, the sectors received investments worth US$242 million in the same period last year. Money flowing into the information industry dropped 23 percent from a year ago to US$217 million and accounted for 24 deals. "Globally, more and more venture capitalists are pouring funds into service-oriented companies," said Robert Partridge, Managing Director of Transaction Advisory Services and the VC Advisory Group of Ernst and Young. "These companies have a relatively low capital threshold for investors and can attract a large group of customers within a short time." Venture capital, also known as risk capital, refers to money invested in start-up firms and small businesses that have both growth potential and the possibility of loss.
|
|