Latest data shows that the VC sector in Asia-Pacific - an important driver of future business growth and future high net worth business owners - has surged, and is now on a par with that of North America.

The venture capital industry in Asia has seen strong growth over the past year, and in the third-quarter total value of deals matches those done in North America, according to figures from research firm Preqin.

India and China, the largest part of the Asian industry, marked 709 financings in the quarter, worth a combined $16.9 billion. There were 932 venture capital deals in North America in the same period, worth $17.5 billion. Asia’s share of global deal flow has increased by seven percentage points from Q2 to Q3 2015, and its share of deal value has increased by nine percentage points. At the same time, the North American market share of the number of deals dropped by six percentage points from the second quarter, while the aggregate value that the region contributed to the global total fell by nine percentage points from 53 per cent in Q2 to 44 per cent in the latest quarter.

Globally, there were 2,121 venture capital financings in the third quarter, worth a combined $39.8 billion. Although this marks a 9 per cent drop in deal numbers from Q3 2014, the aggregate value is 88 per cent higher than the same period last year. Europe witnessed 297 deals in Q3, a 7 per cent drop from last quarter. For the year so far, 980 deals have been seen in the region, down 25 per cent decrease from the 1,307 deals in the first three quarters of 2014.

In China, on the other hand, there has been growth: the aggregate value of deals in Greater China surged by 88 per cent from the first quarter. 

Angel and seed investments comprised 22 per cent of venture capital deals in Q3, unchanged from Q2. 

The two largest investments in Q3 2015 were both in Chinese transport technology firm Didi Kuaidi. The company received $2 billion in July, and a further $1 billion in September, from a consortium of investors including Alibaba and CIC. The next largest financing was $1 billion to Uber Technologies, from Microsoft and Times Internet. Nine of the ten biggest venture capital deals in Q3 were based in Asia.