China's VC investments hit US$585 mln in Q1

The value of China's venture capital (VC) investments jumped 12.9% year-on-year to US$585 million in the first quarter of 2008, according to a report released yesterday by ChinaVenture, a consulting firm providing services for VC investors, investment banks and entrepreneurs both at home and abroad.

In the first quarter, the number of completed VC investment deals accumulated to 73, which was radically flat from the 72 deals completed in the same period of 2007. But the average deal size jumped 11.3% to US$8.02 million.

The most popular sectors among investors are the medical and healthcare industry, which have seven completed deals, valued at US$83.99 million. This industry has been favored by investors since the fourth quarter of 2007, while the internet service sector saw a dwindling number of deals.