It's Not Just Silicon Valley Startups That Raise Billions
- Deals in Asia hit $16.9 billion in September quarter
- Venture fundraising is getting tougher in certain sectors
Attendees look at screens displaying the overall scope of AliCloud, the cloud-computing arm of Alibaba Group Holding Ltd.
Photographer: Qilai Shen/BloombergThe venture capital business in Asia is beginning to rival that in North America, home to Silicon Valley and birthplace of the modern VC model.
Investments in China and India, where most of the big deals are taking place, more than tripled to $16.9 billion in the third quarter, just less than the $17.5 billion invested in North America as of Oct. 1, according to Preqin Ltd., a London-based consultancy. That doesn’t include venture deals in countries such as Japan, meaning Asia’s total is higher. Nine of the ten biggest venture investments were in the region, including separate funding rounds by Chinese ride-hailing service Didi Kuaidi that totaled $3 billion.