China Takes Half Of World's Top 10 Venture Capital Deals In Q3 With Artificial Intelligence A Leading Sector

Mainland China recorded robust venture capital activity in the third quarter, with the country taking half of the world's ten largest venture capital deals during the period. Artificial intelligence (AI) was a leading sector for deal making, according to KPMG's quarterly global report on venture capital trends. Continuing the momentum from the second quarter 2017, companies in mainland China attracted US$10.2 billion worth of venture capital investments in 95 deals between July and September, accounted for half of the top-ten largest global venture capital deals, and 10 of the top 12 deals in Asia. These included the US$2 billion fundraising by news aggregation app Toutiao and US$1.6 billion raised by electric vehicle manufacturer BAIC BJEV. The report highlights that AI, robotics, and other tech-enabled next-generation sectors in China are attracting significant investment, with the pace is expected to continue. "AI has been the hottest topic for VC investors for several quarters.