Startup financing in Greater China got off to a slow start in 2022 as geopolitical uncertainties and the COVID-induced economic slowdown resulted in volatile stock markets that made investors apprehensive about exits.
Privately-held companies headquartered in Greater China — i.e., mainland China, Hong Kong, Macau, and Taiwan —raised a combined $12.3 billion from 363 deals in the first three months of this year. Quarterly deal value reduced by 46.9% from $23.2 billion in the previous quarter, and it also represented a sharp decline of 50% in comparison with the $24.1 billion recorded in Q1 2021.