China’s tough crackdown on large tech platforms and drastic ‘zero-Covid’ policy measures have led to the flight of venture capital funds to Southeast Asia and India, Nikkei Asia reported, citing data from research firm Preqin.
VC funds focused on Southeast Asia and India have raised $3.1 billion this year against $3.5 billion the whole of last year, the report said, adding that China-focused VC funds raised just $2.1 billion against the $27.2 billion they raised in 2021.
Read the full report: Nikkei Asia.
ALSO READ:
China, India Attract ‘More Than Their Fair Share’ of VC Funds
VC Funds Make A Beeline To Tap India’s Startup Boom: Nikkei
China’s new insurance’superfunds’ likely to eliminate 90% of VCs