TMT industry to continue as investment driver

Investment in the telecommunications, media and technology (TMT) industry will continue to grow in the short term, and further drive the increase of investment value, owing to the implementation of preferential tax policies for venture capital investment and tax reduction for micro and small-sized businesses, according to a new report released by global accounting firm PwC.

The report said the private equity and venture capital investment volume in the TMT industry slightly recovered in the first half of 2019 after a sharp drop in the fourth quarter of last year. There were 1,649 PE/VC deals in the TMT industry in the first half of 2019, down 12 percent from the second half of 2018.

The number of large-sized deals decreased in the first half of 2019, with only 29 deals involving a single deal value of over $100 million, half the number compared to the second half of 2018.