Despite a fall in venture capital (VC) deal value in Q2 to USD20.1bn from USD35.1bn the previous year, optimism among Asian VC investors regarding increased IPOs in mainland China and Hong Kong is on the rise, according to a KPMG report. This sentiment persists even after six consecutive quarters of decline in VC value. Local government support and collaboration with VC firms in China have invigorated the startup investment climate. Notably, in Q2, Singapore’s Shein raised USD2bn, and India’s Byju’s garnered USD700m. KPMG’s Irene Chu highlighted the uptick in companies prepping for IPOs, especially in Hong Kong. While investments in mature companies are favoured, there is robust interest in energy tech, battery storage, and generative AI sectors.
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