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Global turmoil cows investors

(Shanghai Daily)

08:14, September 07, 2011

Shanghai--NEW investments in the Chinese mainland's venture capital and private equity markets slumped to their lowest level in two years in August amid volatile world stock markets.

Just 30 VC investments worth a total of US$351 million were revealed in August, compared with 36 worth nearly US$895 million in July, a 60 percent fall in value, according to a report yesterday by analyst China Venture.

In August last year, there were 46 disclosed investments worth a total US$373 million.

In the PE market, which is sensitive to stock market index movements, investors seemed reluctant to commit money as global stock markets suffered turmoil amid concerns over debt crises in both the eurozone and the US.

Last month, there were 18 new PE investments worth a total of US$874 million, down from July's 23 worth more than US$1.21 billion and comparing poorly with 32 investments worth nearly US$1.19 billion in August last year, the report said.

Despite a shrinking investment appetite, the Internet sector remained a favorite of both VC and PE, accounting for 16 investments last month.

The information technology and energy sectors accounted for five each, the report said.

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