The US and China maintained their positions as top investment destinations for venture capital (VC) firms in the first half of 2023, according to London-based data and analytics company GlobalData.

Together, they accounted for 70% of the volume and value of high-value VC deals of $100 million and more reported globally.

The US share of high-value VC deals volume globally stood at 50.2%, accounting for 58.7% of the corresponding deal value.

China accounted for 19.3% of the total number of high-value VC deals announced globally, as its share of deal value reached 17.9%.

“VC funding activity has taken a hit globally due to dent in investor sentiments amid challenging market conditions. The US is not an exception,” said Aurojyoti Bose, Lead Analyst at GlobalData. 

However, it did not alter the US dominance in the global VC funding landscape, he noted.

Akin to other key markets, China’s startup ecosystem experienced a funding crunch, Bose said, adding Beijing still continues to be a highly preferred investment destination for VC firms.

The UK took third place in high-value VC funding deals volume in H1 2023, followed by Germany, India, France, Singapore, South Korea, Canada, and Switzerland. 

(Editing by Seban Scaria seban.scaria@lseg.com)