Venture capital (VC) investments almost tripled quarter-on-quarter in China with US$630.43 million in the third quarter, compared with US$211.49 million a quarter earlier, according to data from CVSource, the investment consulting firm ChinaVenture's online database system.

The number of VC investment cases increased by 161.1 percent to 94 in the third quarter from 36 in the earlier quarter. In the third quarter of 2008, the number was 86 but investment totaled US$1.026 billion, CVSource's data showed.

Average investment per case was US$6.71 million in the third quarter, up 14.2 percent from the earlier quarter's US$5.87 million, but down 43.8 percent from US$11.94 million in the same quarter of 2008.

Foreign VCs, which have been dominating the industry in China, are now facing head-to-head competition from their domestic peers. The number of cases carried out by domestic VCs for the first time surpassed that of foreign VCs in the second quarter of 2009; this happened again in the third quarter.

Domestic VCs revealed 61 investment cases in the third quarter, accounting for 64.9 percent of the total. The sum of investment for domestic VCs reached US$295.6 million, compared with the industry's total of US$630.43 million in the third quarter in China.

Venture capital (VC) investments almost tripled quarter-on-quarter in China with US$630.43 million in the third quarter, compared with US$211.49 million a quarter earlier, according to data from CVSource, the investment consulting firm ChinaVenture's online database system.

The number of VC investment cases increased by 161.1 percent to 94 in the third quarter from 36 in the earlier quarter. In the third quarter of 2008, the number was 86 but investment totaled US$1.026 billion, CVSource's data showed.

Average investment per case was US$6.71 million in the third quarter, up 14.2 percent from the earlier quarter's US$5.87 million, but down 43.8 percent from US$11.94 million in the same quarter of 2008.

Foreign VCs, which have been dominating the industry in China, are now facing head-to-head competition from their domestic peers. The number of cases carried out by domestic VCs for the first time surpassed that of foreign VCs in the second quarter of 2009; this happened again in the third quarter.

Domestic VCs revealed 61 investment cases in the third quarter, accounting for 64.9 percent of the total. The sum of investment for domestic VCs reached US$295.6 million, compared with the industry's total of US$630.43 million in the third quarter in China.