Chinese venture capitalists provided a record amount of funding for Indian start-ups last year, fuelling concerns about their influence amid frosty relations between the two countries.
In the final quarter of the year, deals involving Chinese investors totalled a record $1.4bn, according to figures from Refinitiv. Data provider Tracxn said Chinese funds invested in 54 funding rounds last year — the largest ever number — compared with just three in 2013 and more than double what it was in 2017.
This has helped turn China into one of the biggest sources of funds for start-ups in India, joining well-established investors like Sequoia and SoftBank. Two-thirds of India’s start-ups valued at more than $1bn now have at least one Chinese VC investor.