The overall private equity and venture capital investment in telecommunications, media and technology in China hit a new half-year high in the first six months of 2017, according to a report of PwC released yesterday.
The TMT industry recorded 1,582 PE and VC deals valued at $30.75 billion in the first half, said the report.
They represented a rise of 104 in volume and an increase of 22.9 percent in value from the previous six months.
"Both investment value and volume rose in the TMT sector, which again indicates that investors still believe the TMT industry in China has great potential," said Gao Jianbin, TMT leader of PricewaterhouseCoopers China.
Among them, 49 deals boasted a value of more than US$100 million each, up nearly 50 percent from the second half of 2016.
These large deals accounted for more than 70 percent of the total deal value of the TMT industry over the January-June period.
"The number of large deals further reflects that investors prefer unicorn companies with leading positions and stable businesses," Gao added.
By sub-sectors, Internet and mobile Internet again led with a total deal value of US$21.31 billion in the six-month period, including three deals worth over US$1 billion each.
