Chinese investors spent the same on European tech as in US companies, Q1 report says

Chinese investors are deepening their ties with the European technology community — so it looks like you should broaden your horizons when looking for funding.

A new report by GP Bullhound states that Chinese investment into European tech has caught up with that into the US for the first time since Q1 2018.

The report, titled ‘Asia Insights: Q1 wrap-up from one of the first markets to reopen,’ says that tech investment in the US reached a historical low in Q1 — with little sign of recovery considering the tense relationship between the Western country and China.

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Tencent, it adds, boosted its presence in the European ecosystem by making five transactions, including two in fintech, one in digital media, one in marketplaces, and one in the software space.

Sony, NTT Group, Hyundai, Samsung, and Itochu poured $400 million into markets including the US, Israel, and Spain.