We're going to resist using a cute Olympic analogy, but the latest results on China venture investment from Dow Jones VentureSource are pretty impressive.
Total second-quarter venture investment in China totaled $1.27 billion, which was sunk into 71 deals. That's more than double the $662 million invested in 69 deals during the same period in 2007, representing some fatter rounds for young Chinese companies. The median deal for the quarter was $10 million, Dow Jones VentureSource said, with most going to later-stage companies.
The results were somewhat skewed by a $430 million investment in Oak Pacific Interactive, an Internet portal aggregation startup, the report notes, but even excluding that deal the investment levels are the highest since the third quarter of 2003.
Deals in the region were heavily skewed to the tech and media sectors, with about 71% of investments in Q2 happening in those areas. In the U.S., that figure was 12% for the quarter.
The most active investor in China during Q2 2007 was Sequoia Capital, with five deals, followed by IDG Ventures China with four and Draper Fisher Jurvetson, also with four. - Olaf de Senerpont Domis
See Aug. 19 press release from Dow Jones VentureSource
For more, see VentureBeat
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