China venture capital investment up 12.9%

BEIJING, April 1 (Xinhua) -- The 73 venture capital (VC) investment deals completed in China in the first quarter were valued at 585 million U.S. dollars, up 12.9 percent from the same period last year, said a report released on Tuesday by ChinaVenture.

The report said the number of deals completed was basically flat for the first quarter. For the same period in 2007, 72 deals were completed.

The average deal size was 8.02 million U.S. dollars, up 11.3 percent.

The medical and healthcare sectors remained the most popular among investors with seven deals completed. They were valued at 83.99 million U.S. dollars.

Since the fourth quarter of 2007, the sector has been much chased by investors while the once-popular Internet service sector has seen a shrinking number of deals.

ChinaVenture is a consulting firm that provides services for VC investors, investment banks and entrepreneurs both at home and abroad.