(Yicai Global) April 9 -- Private equity investment in China's internet sector has slumped in the first quarter amid the Covid-19 epidemic.
The scale of funding fell by 36 percent to USD5.1 billion from a year earlier, according to data that the China Academy of Information and Communications Technology released today. Volume fell by 42 percent to 282 fundraisers.
Only 6 Chinese internet startups completed funding worth more than USD100 million over the quarter, led by online property agency Beike with USD1.5 billion from investors including Softbank and Hillhouse Capital. Rental apartment operator Ziroom and online education platform Yuanfudao got USD1 billion each.
Editor: Emmi Laine