March 2023 was a sluggish month for startup fundraising in Greater China as the number of venture deals and the capital raised, took a severe hit.
Privately-held startups in mainland China, Hong Kong, Macau, and Taiwan collectively raised $2.6 billion in the month— the lowest since DealStreetAsia started tracking deals of all sizes in April 2020. The deal value was down 60.3% from February, mostly due to the lack of big-ticket deals.