The pandemic dealt the venture capital sector a fresh blow as funders halted new deals because they were unable to do due diligence on site, and start-ups implemented lay-offs and job suspensions as funding dried up. Photo: Bloomberg
India tops China in fintech funding in first quarter as pandemic, US trade war prolong ‘capital winter’
- In terms of deal volume, India recorded 37 investments versus China’s 26 deals in the March quarter
- Investments targeting China’s tech-based industries saw a 31.3 per cent decline in value in the first quarter
The pandemic dealt the venture capital sector a fresh blow as funders halted new deals because they were unable to do due diligence on site, and start-ups implemented lay-offs and job suspensions as funding dried up. Photo: Bloomberg
