Skip to content

China Unicorns Facing IPO Freeze Tap $240 Billion Private Market

  • Buyout firms and family offices fueling pre-IPO capital raises
  • Asia private markets fundraising more than doubles since 2017
Bottles of soda water manufactured by Genki Forest.

Bottles of soda water manufactured by Genki Forest.

Source: VCG/Getty Images

China’s recent crackdowns on overseas listings have thrown a wrench in the works of startups looking to go public, driving them to pursue investors in Asia’s rapidly growing private capital markets. 

JPMorgan Chase & Co. estimates the fundraising amount in private capital markets for entrepreneurs in Asia surged to over $240 billion last year from about $100 billion in 2017, driven largely by Chinese firms.