To address smoking-related issues and ensure the health and safety of citizens in Laos, Vientiane Capital is launching a competition among its nine districts. While the details of the competition are yet to be disclosed, the winning district will have the chance to participate in the Smoke-Free ASEAN City program in 2026, according to the Department of Health.
3rd Loudi Tourism Development Conference Opens in Shuangfeng County
The two-day conference has meticulously organized a “3+2+N” event structure. The three main activities include the “Explore Loudi – Heartfelt Journey” featuring in-depth tours of key cultural and tourism sites, the conference’s opening ceremony and tourism promotion, and the 2024 Loudi Cultural Tourism Industry Development and Investment Conference. During the event, 16 projects were signed, totaling RMB 3.13 billion, and 50 investment projects were unveiled, amounting to a total investment of RMB 27.61 billion.
In recent years, Loudi has continued to strengthen its brand as the “Gem of Central Hunan and Hometown of Chiyou,” driving high-quality cultural and tourism development. This central Hunan city, known for its industrial roots, has made significant strides in ecological restoration and protection. Through scientific planning and balanced development, Loudi has cultivated a new “Eco + Cultural Tourism” model, invigorating tourism amidst its picturesque landscapes.
Lanshan Mountain in Lengshuijiang, known as the “Antimony Capital of the World,” has been transformed through ecological restoration into a popular camping destination. The Gaodeng River area in Shanshan Town, Louxing District, has seen major water quality improvements through comprehensive management, turning it into an inviting “urban backyard.” Meanwhile, visitors to Meijiang National Geopark in Lianyuan City are treated to the enchanting experience of a lawn concert amidst scenic mountains and rivers.
Since the beginning of the year, Loudi has received 40.73 million domestic and international visitors, generating RMB 41.475 billion in tourism revenue, up 10.27% year-on-year. Attractions with an emphasis on ecological, wellness, and rural experiences have particularly excelled. “Eco + Cultural Tourism” has become a bright symbol of Loudi’s tourism industry.
Hashtag: #LoudiTourismDevelopment
The issuer is solely responsible for the content of this announcement.
Sqkii launches #HuntTheMouse – The World’s Simplest S$1m Cash Hunt in Singapore
More coins, more cash prizes, more features and a gold coin worth S$500,000 await the most accomplished hunters
SINGAPORE – Media OutReach Newswire – 28 October 2024 – From 10th October to 9th November 2024, Singapore will be the hunting ground for the world’s simplest million-dollar cash hunt, #HuntTheMouse. Boasting the biggest cash prize pool to date, #HuntTheMouse, in this fifth iteration, raises its stakes from total prize money of S$100,000 in 2023 to S$1,000,000 this year, with a grand prize of S$500,000.

The number of silver coins will also increase from 100 in 2023 to 300 this year to amplify the level of thrill and participation. In this 30-day event, one S$500,000 gold coin, and 300 silver coins of two values – S$2,500 and S$500, will be hidden in various spots across Singapore progressively. The breakdown of the coins is as follows:
• 1 x S$500,000 gold coin
• 175 x S$2,500 silver coins
• 125 x S$500 silver coins
#HuntTheMouse is free to play and open to Singapore residents and tourists. Players, better known as hunters, are recommended to follow the hints, and the real-time map on the game website to be the first to locate these coins and redeem its corresponding cash value.
This year, the game launches four new power-up features on top of the existing Crystals to help hunters get ahead:
- Coin Sonar – This power-up feature allows hunters to scan the area around them to zoom in to a more precise location for a silver coin, and provides instant feedback on whether the silver coin is within their selected range.
- Metal Detector – In beta, hunters can activate this power-up feature when inside any silver coin circle to turn their phone into a metal detector. This feature scans the surrounding vicinity for one minute and provides visual feedback on the proximity to the coin as the hunter moves around.
- Beacon – Any player can unlock this feature by completing specific brand actions. The Beacon can then be placed anywhere on the map, allowing all players within one kilometre radius to enjoy discounted power-up usage for ten minutes.
- Pedometer – Promoting active lifestyle and healthy living, the pedometer tracks step count while on the hunt! Players will also be rewarded with Crystals for hitting specific step counts through daily missions.
“This year’s #HuntTheMouse marks a significant milestone and we are immensely proud of how the game has grown from what began at Nanyang Technological University with a S$800 prize for a single winner,” shares Mr Kenny Choy, CEO & co-founder of Sqkii, the gamification company behind #HuntTheMouse.
PARTICIPATING PARTNERS:
Hashtag: #HuntTheMouse
https://htm2024.sqkii.com/
https://www.facebook.com/sqkii/
https://www.instagram.com/sqkiimouse/
https://t.me/SqkiiSG
The issuer is solely responsible for the content of this announcement.
Sqkii Pte Ltd
Sqkii is a gamification company in Singapore that helps brands achieve incremental revenue and other business objectives using games. Its award-winning viral games have driven outstanding return on investment for brands, including more than 300,000 incremental rides in Grab’s #GrabRewardsville, and over 200,000 cashless payments in DBS Bank’s #HuntYourZodiac. Most known for #HuntTheMouse, their signature cash hunt that gives away cash to players, Sqkii has recorded more than 1,000,000 players over their hunts and generated over S$3,000,000 in incremental revenue for participating brands. Plans are in the pipeline to progressively expand #HuntTheMouse beyond the shores of Singapore to cities across Asia-Pacific.
Laos Expresses Interest in Joining BRICS at Recent Summit
At the recent BRICS summit held in Kazan, Russia, from 22 to 24 October Laos formally expressed its interest in joining the group of emerging economies—Brazil, Russia, India, China, and South Africa. During the BRICS Plus/Outreach session, President Thongloun Sisoulith highlighted Laos’s commitment to multilateral cooperation and voiced hopes for support in the application process.
Laos sees joining BRICS as a way to enhance collaboration in trade, investment, green energy, and sustainable development, according to President Thongloun. He emphasized the importance of collective efforts to meet the 2030 Sustainable Development Goals and called for enhanced partnerships that would benefit not only Laos but the entire region.
The summit aimed to highlight BRICS’ growing role on the global stage, with discussions among leaders from over 80 nations, including Vietnam, Thailand, Indonesia, and the Philippines.
In a bilateral meeting on 24 October, President Thongloun also met with Russian President Vladimir Putin to strengthen the strategic partnership between Laos and Russia. Both leaders acknowledged their countries’ longstanding ties, emphasizing achievements in defense, education, and peacekeeping. They agreed to deepen cooperation in trade, energy, transportation, and tourism, as well as to support each other in international forums.
While the summit focused on economic cooperation and geopolitical strategies, concerns regarding cultural appropriation were raised, particularly by smaller countries with strong traditional ties.
Laos aims to join the BRICS alliance as the country looks forward to leveraging the platform to advance its development goals and strengthen its role in the international community.
HKSTP Leads Unprecedented Delegation of 25 Hong Kong Tech Ventures to Tap Fast-Growing Middle East Market at Saudi Arabia’s FII8

HONG KONG SAR – Media OutReach Newswire – 28 October 2024 – The Hong Kong Science and Technology Parks Corporation (HKSTP) is bringing 25 Park companies focusing on green tech, biotech, AI & Robotics, etc. to Saudi Arabia’s Future Investment Initiative Institute 8th Edition (FII8) for the first time, joining the delegation led by Hong Kong Special Administrative Region (HKSAR)’s Financial Secretary Paul Chan.

FII is an annual international conference which brings together world leaders, policymakers, investors and entrepreneurs to discuss and explore investment opportunities in combatting the world’s most pressing issues with one agenda: “Impact on Humanity”. This year’s edition: “Infinite Horizons: Investing Today, Shaping Tomorrow” will be held in Riyadh from 29 to 31 October 2024.
The HKSTP delegation aims to foster collaboration in innovation and technology (I&T) between Hong Kong and the Middle East, as well as supporting tech ventures from Hong Kong in securing investment and exploring business opportunities. The Gulf region’s strategic geographic position, serving as a gateway between Europe, Asia and Africa, along with its growing consumer and corporate markets and increasing demand for innovative solutions, positions the Middle East as a key strategic partner for Hong Kong.
Albert Wong, CEO of HKSTP, said, “This represents an exciting step in strengthening the ties between Hong Kong and the Middle East in I&T. By connecting Hong Kong’s dynamic tech companies with new opportunities in the region, we are creating a powerful synergy that supports investment, fosters knowledge exchange, and drives growth in high-demand tech sectors. Together, we’re opening doors to new markets and fueling global progress in I&T.”
The Middle East’s vibrant I&T ecosystem and capital market have created strong momentum for tech ventures seeking to expand beyond Asia. At FII8, HKSTP and seven Park companies will be signing collaboration agreements with various Middle East partners. In addition, nine Park companies have been invited by the event organiser of FII8 to pitch their innovations to global investors and business partners at the “Global Startup Showcase” dedicated stage as their solutions are addressing the pressing agenda of FII “Impact on Humanity”. Archireef, a HKSTP-bred global pioneer of the world’s first 3D-printed terracotta reef tiles for ocean restoration, will also take part in FII8’s “Innovators Pitch Competition”, competing against five up-and-coming startups from around the world.
To connect with Middle East investors and business partners, HKSTP will host the “Hong Kong Tech Disrupt” Reception with the presence of the Financial Secretary Paul Chan. Albert Wong, CEO of HKSTP will introduce the HKSTP ecosystem and highlight the I&T opportunities in Hong Kong. Distinguished speakers will share their insights into investment opportunities emerging from the Middle East, while HKSTP Park companies will showcase their disruptive technological solutions.
Earlier this month, the Future Investment Institute published the white paper “Hong Kong’s Dual Focus on Sustainable Investment and Green Innovation” written by HKSTP. It highlights the city’s robust efforts in enhancing its green finance ecosystem. As HKSTP accelerates its role as a catalyst for innovation and collaboration, these efforts promise to raise Hong Kong’s position in the global I&T ecosystem, driving success and creating new opportunities for emerging entrepreneurs.
Below is HKSTP’s key agenda at FII8:
Future Investment Initiative Institute 8th Edition (FII8)
Date: 29 – 31 October 2024
Venue: King Abdulaziz International Conference Center, Riyadh, Saudi Arabia
Hong Kong Tech Disrupt: Exclusive Reception for Investors
Date: Wednesday, 30 October 2024
Time: 6:00 pm – 8:30 pm (Saudi Arabian time)
Venue: Golf Outdoor Lawn, InterContinental Riyadh, Saudi Arabia
Event highlights:
- Opening remarks by Mr Paul Chan, Financial Secretary of HKSAR Government
- Introducing of HKSTP by Mr Albert Wong, CEO of HKSTP
- Keynote Speech “Unlocking Middle East’s Capital” by Dr Abdulrahman Alolayan, Founder & Managing Partner of Beta Lab
- Keynote Speech “East Meets MENA: Cross Border Investments” by Ms Jessica Wong, Founder & Managing Partner of ewpartners
RSVP: https://stp.hk/3BDqjaB
###
Appendix
HKSTP Park Companies Participating in the FII8:
Park Company | Profile | |
“Innovators Pitch Competition” | ||
1. | Archireef | Archireef is a nature-tech company which pioneered the world’s first 3D-printed terracotta reef tiles for ocean restoration. It aims to restore 125 hectares of marine ecosystems by 2030. The company is also pioneering the development of biodiversity credits derived from marine ecosystem restoration. |
“Global Startup Showcase” dedicated stage | ||
2. | Altai Technologies Limited | A global leader in industrial-grade Wi-Fi solutions, with a strong presence in over 100 countries. |
3. | AusMed Global Limited | A fast-growing life science company specialising in developing novel non-invasive medical devices and solutions for home and point-of-care uses in response to the global challenges in diabetes, overweight, and obesity. |
4. | BioMap | A pioneering company at the intersection of AI and the life sciences sector, integrates cutting-edge AI with biotech to accelerate research and development and design novel proteins in areas such as pharmaceuticals and enzymes. |
5 | FJDynamics | A global leader in robotics and automation, delivering AI-driven solutions for industries like agriculture, construction, and landscaping. |
6. | Manifold Tech Limited | A high-tech 3D scanning and modeling, robotics, and algorithm company. |
7. | PanopticAI Limited | A deep tech company that powers the next era of high-performance solutions through scientific breakthroughs backed by academic and clinical research. |
8. | Westwell Holdings (Hong Kong) Limited | The company develops and deploys smart NEVs (new-energy vehicles) and AI-driven intelligent industrial solutions and systems for multiple logistic scenes, including seaports, air cargo terminals, manufacturing hubs, railway logistics, cross-border transportation, road freight and supply chain platforms. |
9. | WomenX Biotech Limited | The company aims to revolutionize disease screening with PadX-HPV, a sanitary pad that detects HPV from menstrual blood with 99.2% accuracy, revealing the risk of cervical cancer. |
10. | Yuanhua Robotics, Perception and AI Technologies Ltd | This company is focusing on innovative R&D and manufacturing of original and intelligent state-of-the-art medical devices and equipment. |
Other HKSTP Park Companies Participating in the FII8:
Park Company | |
1. | Absolute Pure EnviroSci Limited |
2. | Alcarbo Technologies Limited |
3. | Climind Limited |
4. | Dayta AI Limited |
5 | Full Nature Farms (Hong Kong) Limited |
6. | GogoChart |
7. | Imsight Technology Co. Ltd. |
8. | Insilico Medicine |
9. | Kodifly Limited |
10. | Lalamove |
11. | Ninenovo Technology (Hong Kong) Limited |
12. | Novelte Robotic Solutions |
13. | Okosix |
14. | One Energy Group |
15. | Volar Air Mobility Limited |
16. | XKool Technology |
Hashtag: #HKSTP
The issuer is solely responsible for the content of this announcement.
About Hong Kong Science and Technology Parks Corporation
Hong Kong Science and Technology Parks Corporation (HKSTP) was established in 2001 to create a thriving I&T ecosystem grooming 13 unicorns, more than 15,000 research professionals and over 2,000 technology companies from 26 countries and regions focused on developing healthtech, AI and robotics, fintech and smart city technologies, etc.
Our growing innovation ecosystem offers comprehensive support to attract and nurture talent, accelerate and commercialise innovation for technology ventures, with the I&T journey built around our key locations of Hong Kong Science Park in Pak Shek Kok, InnoCentre in Kowloon Tong and three modern InnoParks in Tai Po, Tseung Kwan O and Yuen Long realising a vision of new industrialisation for Hong Kong, where sectors including advanced manufacturing, micro-electronics and biotechnology are being reimagined.
Hong Kong Science Park Shenzhen Branch in Futian, Shenzhen plays positive roles in connecting the world and the mainland with our proximity, strengthening cross-border exchange to bring advantages in attracting global talent and allowing possibilities for the development of technology companies in seven key areas: Medtech, big data and AI, robotics, new materials, microelectronics, fintech and sustainability, with both dry and wet laboratories, co-working space, conference and exhibition facilities, and more.
Through our R&D infrastructure, startup support and enterprise services, commercialisation and investment expertise, partnership networks and talent traction, HKSTP continues contribute in establishing I&T as a pillar of growth for Hong Kong.
More information about HKSTP is available at www.hkstp.org.
UFS welcomes the world’s foodies to the “Culinary Infinity” at 2024 Worldchefs Congress

SINGAPORE – Media OutReach Newswire – 28 October 2024 – Unilever Food Solutions (UFS) mounted an hour-long activation that previewed the future of food, welcoming excited foodies of different nationalities and palates who flocked to this year’s Worldchefs Congress & Expo 2024, held at the Marina Bay Sands, Singapore last October 21st.
Anchored on the theme of Culinary Infinity, the UFS activation took place on a segmented infinity-shaped table reflecting the infinite possibilities of the future: Four quadrants represented four of the eight trends identified in the UFS Future Menus Report 2024.
The journey to and of the future is a free-for-all, which is reflected in the culinary journey that each attendee went on. While there is no set order of the quadrants to visit and immerse in, it’s only in completing the Culinary Infinity that a complete and exciting vision and flavor of the future will be fully formed.
This said journey was made more exciting and enlivened through a creative interpretation of how attendees will explore the nooks and crannies of each “trend terrain.” Mirroring the burst that’s to be expected in menu items under Flavour Shock, Tempura with Matcha Sauce, Chocolate with Golden Egg Powder, and Truffle Ball Fermented Cassava were served on lava rocks and glossy obsidian.
The Local Abundance terrain is a forager’s bounty, showing what’s possible if we plunge into the future with sustainability in mind and on our plates. Attendees even got to “forage” a certain portion of the exhibit, sourcing such ingredients as candlenuts, tamarinds. galangal, fingerroots and taking away a shared sense of responsibility in taking care of our planet as we also nourish ourselves.
On the other, very real side of the sustainability conversation, attendees transformed from foragers into alchemists as the Low-Waste Menus trend took on the guise of a barren desert landscape which served as their provocation on how to transform what is “unusable” at a glance but is actually a trove of flavorful possibilities.
In the Modernised Comfort Food terrain, the future is equal parts familiar and uncharted, and there’s much to explore and experiment with whichever side you start with. Attendees were armed with nostalgia for creature comforts in their childhood kitchens as well as a taste for adventure as they forayed through flavors old and new.
“We hope that a collective key takeaway is that yes, the future of food could go so many ways–possibly infinite–and that’s not daunting at all. In fact, the innumerable possibilities are exactly why our industry should be excited to sink our teeth into the future,” Vangie Hu, Regional Marketing Director, UFS Southeast Asia noted. “We hope UFS’s hour at the Worldchefs Congress whetted your appetite for a culinary adventure–we gladly offer up the UFS Future Menus Report to sate your hunger for more.”
Download and learn more about the Future Menus trend report at https://www.ufs.com/.
Hashtag: #UFS
The issuer is solely responsible for the content of this announcement.
ABOUT THE FUTURE MENUS TREND REPORT
The UFS Future Menu Trends Report 2024 was compiled from robust global data and extensive chef inputs, such as industry reports by leading third-party sources (including Kantar, Firmenich, IFF, The Forge, CMJ-PDC), social media analytics using 56K keywords representing 2bn searches across more than 21 countries, perspectives from UFS’ 250 professional chefs and elaborate feedback from more than 1,600 chef professionals located in 21 markets worldwide via UFS e-panels.
The UFS Future Menus Trend Report findings have been translated into practical, action-driven solutions for foodservice operators globally, including recipe inspiration, preparation techniques and ingredient suggestions operators can use on their menus.
ABOUT UNILEVER FOOD SOLUTIONS
Unilever Food Solutions is a business built by Chefs, so we know what you face every day in the kitchen. Everything we do is focused on making your life a little easier. We aim to inspire you, train you and provide you with the best product solutions.
Drawing from their extensive experience in professional food services, our team of over 300 Chefs create dish solutions that balance great taste, convenience and nutrition with a consistently high standard.
Our global network of food service professionals help source the best sustainable ingredients, develop quality products, create inspiring &
trending recipes, and provide
chef training and support.
Lao Students Head to Japan for Sports, Sustainability Exchange
A delegation of nine Lao high school students and one supervisor are headed to Tokyo and Fukushima, Japan to participate in the ASEAN-Japan Sports x SDGs Exchange from 28 October to 4 November, as part of the JENESYS program.
Global VC investment falls to lowest level in nearly seven years as number of US$1 billion+ deals falters, according to KPMG Private Enterprise’s Venture Pulse report

- Global VC investment drops from $95.5 billion to $70.1 billion quarter-over-quarter
- AI accounts for six of ten largest VC deals globally in Q3’24, led by the only two $1 billion+ raises
- Americas accounts for nearly 60% of VC investment in Q3’24, with $41.4 billion in deal value
- Japan and Germany buck geographical trend with Japan recording a VC investment twelve-quarter high.
HONG KONG SAR – Media OutReach Newswire – 28 October 2024 – Global VC investment fell from a five-quarter high of $95.5 billion in Q2’24 to a nearly seven-year low of $70.1 billion in Q3’24, amid ongoing geopolitical conflicts, the continued exit drought, anticipated seasonal lulls in investment in several key jurisdictions, and the uncertainty driven by the upcoming US presidential election.
The decline came despite another solid quarter of VC investment in AI; the sector accounted for six of the ten largest VC deals globally, including a $1.5 billion raise by Anduril Industries and a $1 billion raise by Safe Superintelligence, according to the Q3’24 edition of KPMG Private Enterprise’s Venture Pulse — a quarterly report that shines a spotlight on VC investment trends globally and in key jurisdictions around the world.
While the Americas continued to attract the largest share of VC investment in Q3’24, total investment in the region still fell from $58.6 billion in Q2’24 to $41.4 billion in Q3’24. In Asia, VC investment fell from $18.5 billion to $15.6 billion quarter-over-quarter, while in Europe it dropped from $17.9 billion to $12.5 billion.
Global exit value fell to a six-quarter low of $39.2 billion, driven primarily by a slowdown in US-based exit activity—which fell from $25.2 billion to $11.2 billion between Q2’24 and Q3’24, as the number of exits fell to a seventeen-quarter low of 244. Asia, which saw a five-year low of $11.2 billion in exit value in Q2’24, saw exit value jump to $18.2 billion in Q3’24.
“AI investments drove the lion’s share of VC investment activity in Q3’24,” said Conor Moore Global Head, KPMG Private Enterprise, KPMG International. “But even within AI, a lot of deals were somewhat smaller than we’ve seen in recent quarters. This reflects somewhat of a trend in investors shifting their focus from core AI companies focused on LLMs (Large Language Models) and the like to companies with highly targeted industry solutions. Defense-tech was also a big winner in this quarter, in addition to biotech.”
Q3’24—Key Highlights
Global VC investment dropped from $95.5 billion in Q2’24 to $70.1 billion in Q3’24; the number of VC deals dropped from 9,270 to 7,227 over the same period.
VC investment in the Americas dropped from $58.6 billion in Q2’24 to $41.4 billion in Q3’24—including from $55.5 billion to $37.5 billion in the US; in Asia, VC investment dropped from $18.5 billion to $15.6 billion, while in Europe it dropped from $17.9 billion to $12.5 billion.
Global corporate VC investment fell from $54 billion to $35.2 billion between Q2’24 and Q3’24; this included declines from $34.4 billion to $19.6 billion in the Americas—including from $32.7 to $17.8 billion in the US—from $10.7 to $9.4 billion in Asia, and from $8.5 billion to $5.9 billion in Europe.
Global exit value dropped from $52.9 billion in Q2’24 to $39.2 billion in Q3’24.
Exit activity in Asia rose from $11.2 billion to $18.2 billion quarter-over-quarter, while it fell from $25.4 billion to $11.2 billion in the Americas, and from $16.3 billion to $9.8 billion in Europe.
Global fundraising activity was well off the pace needed to match even 2023’s subdued total of $202.8 billion; at the end of Q3’24, global fundraising stood at $143.1 billion.
AI sector sees six of the top ten deals globally in Q3’24, including largest deal in every key region
While VC investment could be considered low in all regions of the world this quarter, AI continued to garner a lot of interest in Q3’24. Six of the ten largest deals during the quarter were AI focused, including a $1.5 billion raise from US-based Anduril Industries, a $1 billion raise by US-based Safe Superintelligence, a $688 million raise by China’s Baichuan AI, a $$640 million raise by US-based Groq, a $500 million raise by Canada-based Cohere, and a $483 million raise by Germany-based Helsing.
While core AI firms continued to attract VC investments during Q3’24, including Safe Superintelligence, Baichuan AI, and China-based Moonshot AI ($300 million), VC investors also showed very strong interest in AI-driven industry solutions. In particular, AI-powered defense-tech companies raised large rounds in Q3’24, including Anduril Industries and Helsing. China also saw AutoAI, which enables automotive companies to embed AI into their vehicles, raise $107 million.
Americas attracts $41.4 billion in VC investment in Q3’24; investment in Canada more than doubles
VC investment in the Americas fell from $58.6 billion across 4,104 deals in Q2’24 to $41.4 billion across 3,124 deals in Q3’24. The US accounted for a large majority of this total—$37.5 billion across 2,794 deals. AI was by far the biggest ticket in the US—accounting for the only two $1 billion+ deals in Q3’24 globally. Life sciences also attracted large deals, including a $370 million raise by autoimmune disease focused Candid Therapeutics, a $350 million raise by weight loss drug company Metsara, and a $325 million raise by programable cell cancer therapies company ArsenalBio.
Canada had an excellent quarter of VC investment in Q3’24, the total more than doubling from $1.2 billion to $2.7 billion quarter-over-quarter, led by a $900 million raise by legaltech Clio and a $500 million raise GenAI-focused Cohere. The Q3’24 total represented a ten-quarter high for Canada. In Brazil, VC investment dropped from $878 million to $473 million between Q2’24 and Q4’24, while in Mexico it dropped from $415 million to $358 million.
VC investment falls to four-year low in Europe—only Germany sees VC investment grow
VC investment in Europe plummeted from $17.9 billion in Q2’24 to a level not seen since Q2’20 ($12.5 billion) in Q3’24. Despite continuing to attract the largest share of VC funding in the region, the UK saw VC investment drop from $7.1 billion to $3.4 billion quarter-over-quarter.
Germany was the only major jurisdiction in Europe to see VC investment increase—from $2 billion to $2.4 billion between Q2’24 and Q3’24. Germany also accounted three of Europe’s five largest deals during Q3’24, including a $483 million raise by AI-enabled defense-tech Helsing, a $278 million raise by satellite launch services company Isar Aerospace, and a $200 million raise by smart workout solution firm EGYM. Raises by France-based mobile games maker Voodoo ($385 million) and UK-based open payments firm Form3 ($$220 million) rounded out the top five.
VC investment in Asia-Pacific falls; Japan bucks trend with a twelve-quarter high
VC investment in Asia dropped to a seven-year low of $15.6 million in Q3’24, driven by the continued slowdown in sizes and declining deal values; the largest raises in Q3’24 included a $788 million raise by Philippines-based Globe Fintech Innovation, a $688 million raise by Baichuan AI and a $415 million raise by semiconductor company ICLeague—both in China, and a $362 million raise by Singapore-based semiconductor firm Silicon box.
China continued to attract the largest share of VC investment in the region ($6.1 billion), although it was the lowest quarter of investment China has seen in over ten years. Despite a decline in Q3’24, VC investment in India remained solid at $3.6 billion, helped by a number of raises by consumer-focused businesses, including a $360 million raise by quick delivery company Zepto. VC investment in Japan bucked the downward trend, rising to a twelve-quarter high of $1.8 billion in Q3’24, driven by a ten-quarter high of deals volume (356), including a $214 million raise by Sakana AI.
Waiting game heading into Q4’24, but all eyes on 2025
With the US election looming large on the global stage heading into Q4’24, VC investment will likely remain subdued for most of the quarter as investors take a wait-and-see approach until the results are decided. AI will likely remain a hot area of investment, in addition to defense-tech given ongoing global geopolitical tensions.
There is a growing sense of optimism that exit activity is readying for a rebound, which would be very beneficial for the VC market globally heading into 2025. “We’ve had a long dry spell on the exit front globally, but market conditions are improving,” said Francois Chadwick, Partner, KPMG in the U.S.. “With interest rates dropping, M&A will likely start ticking up because acquisitions are becoming more viable. And while IPO activity will likely remain slow through Q4’24 due to the US election, all eyes will be on the IPO market heading into 2025.”
Hashtag: #KPMG
The issuer is solely responsible for the content of this announcement.
About KPMG Private Enterprise
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