Investments by VC, PE plunge 84 pct

The total value of venture capital and private equity investments in China plunged nearly 84 percent in May on a lack of mega deals, according to an industry report.

The total value of 69 deals that have disclosed figures was $1.77 billion, down 83.7 percent from a month earlier, the Zero2IPO Research Center said in a report yesterday.

There were 78 settled deals last month, down from 88 in April, the report said.

The Internet industry attracted the most deals at 25, followed by 20 transactions in the telecommunication industry. The biotechnology and healthcare industry as well as finance and IT sectors tied for third place with five deals each.

Logistics topped with US$650 million in investment value.