2023-05-14-投中研究院-投中统计_4月新基金环比上升近五成_江苏项目融资最活跃_16页_1mb

Summary of April 2023 China VC/PE Market

Fundraising Trends

In April 2023, the VC/PE market experienced a significant increase in fundraising activity, with new fund sets rising by nearly 40% month-on-month from March, totaling 966 new funds. Fundraising volumes showed signs of warming, supported by regional policies and economic stimuli, such as those in Shandong province. Shandong led with the highest number of new funds in April, driven by factors like local market enthusiasm and policy support, including the rise of "Zibo barbecue" culture boosting investment interest.

Investment Analysis

The investment market cooled in April, with reduced deal volumes and declining transaction values. The majority of investments were concentrated in early stages, particularly A-rounds, which accounted for 44% of deals by number and 33.7% by value. The IT and informatization sector dominated both quantity and total investment value, while healthcare and semiconductor-focused projects saw substantial growth. Other sectors like blockchain and robotics showed moderate activity, though overall market enthusiasm remained cautious due to economic uncertainties.

Key Highlights

• Regional focus: Shandong province emerged as the most active area for both fundraising and investments, with cities like Qingdao and Zibo leading in new fund setups and project financing.
• Notable domains: Investments heavily concentrated on high-growth sectors such as IT, healthcare, and manufacturing, with semiconductor projects receiving nearly 50% of funding in Shandong.
• Overall performance: Fundraising rebounded amid economic recovery, while investments shifted towards strategic areas, reflecting resilience in specific market segments.