Asia is closing in on the US as the biggest home for venture capital, with total funding of $70.8bn last year to America’s $71.9bn, according to the latest PwC/ CBInsights MoneyTree Report.
Global VC funding increased nearly 50 per cent year-on-year to more than $164bn invested across 11,042 deals, according to the survey. In Asia, funding more than doubled while in the US it rose 17 per cent year-on-year but deal volume fell to 5,052, the lowest level since 2012.
Europe remained the world’s laggard, despite a 40 per cent rise in financing to $17.6bn across 2,483 deals.
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