MONTHLY DEAL BOOK: Major Fintech Deals Drive VC Investment Up 80% To USD6.4bn

After an unexpected dip in August, venture capital investment returned to growth up 35% month on month to USD6.4bn in September, with a total of 295 venture capital deals across September compared to the 216 in August. September’s total is also up a huge 80% on the same month last year.

At USD4.4bn the US once again took by far the largest share of venture capital funding, with seven of the 10 largest rounds going to companies there. India and China were once again in the second and third spots, attracting USD525.4m and USD347.5m, respectively. The fact investment in Indian tech companies now exceeds that of investment in Chinese companies shows the growing enthusiasm for the former’s tech industry, while in China questions are turning to how severe the country’s slowdown is. The effect is being felt across segments of the Chinese tech companies, with leading players not immune. Flagship firm Alibaba, for example, is now trading well below its record-breaking IPO value. The USD200m investment for France’s BlaBlaCar was the only round in the top 10 for a company outside the US, India or China.