(Xinhua)
Updated: 2008-01-01 09:32

Venture capital institutions from home and abroad had pumped $3.18 billion into 428 deals in China from January to November 2007, according to a report from a leading Chinese consulting firm.

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The investment was 78.9 percent higher than the figure of 2006, Zero2IPO Group said, adding the number of venture capital investment deals in 2006 was 324.

The investment surge came as venture capital institutions swarmed to the world's fastest-growing economy to cash in on the huge business opportunities arising from the robust economic growth, the report said.

Domestic and foreign venture capital institutions had raised a total $5.42 billion in 55 funds in China during the 11 months ending in November.

The money raised and the number of funds were 36.5 percent and 41 percent higher than the figures of last year, the report stated.