After a massive Q4’14 which featured five $100M+ rounds and 82 deals, Q1’15 saw just under $3B raised to VC-backed Chinese Tech Companies, up 69% versus the same quarter a year prior.
Deals fell for the second straight quarter, however funding was supported by large rounds, as Q1’15 saw over ten $100M+ financings.
Beijing dominated all Chinese cities in deals and dollars in Q1’15 with 2 of the top 5 deals (Uxin Pai, Cheyipai). Hangzhou was buoyed by Kuaidi Dache’s $600M round, which valued the car-hailing company at $8.75B.
Matrix Partners, Sequoia Capital, and IDG Ventures were the most active investors in Chinese Tech companies in Q1’15, with the bulk of their investments coming post-Series A. All three invested in Zhaogang’s $100M Series D.
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