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Asia Pacific venture capital investment plunged 73 per cent in first half

Venture capital investment in the Asia Pacific region, which excludes Japan, dropped a massive 73 per cent in the first half of this year compared with the same period in 2001.

Only $545m was invested, down from nearly $2bn last year, according to Venture Economics.

China was the most active region, attracting about 20 per cent of total investment. India came second, followed by Australia.

The biggest sector was media and communications, which received about $140m of venture financing, followed by internet companies. Some 123 companies received funding.

Venture capital firms raised about $1.3bn in the first half of this year, compared with $3.5bn in the first half of 2001. Singaporean funds accounted for more than $500m, followed by Australian funds on $330m, South Korea on $187m, and Hong Kong on $183m.

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