PE/VC firms more prudent on TMT investments

Private equity and venture capital investment in China's telecommunications, media and technology sector, or TMT, was in full swing in the first half of 2014, but investors are being more prudent in the second half and that situation will continue next year, according to a report by PricewaterhouseCoopers on Wednesday.

PE and VC investment fell in the first quarter and then rose sharply in the second quarter, with total investment value in all sectors hitting a record $17.6 billion, up 200 percent quarter-on-quarter, it said.

In the first quarter, there were 245 PE and VC transactions in the TMT industry, accounting for 73 percent of total volume. The total investment amount, $2.3 billion, represented 39 percent of PE and VC deal value.