Funding for Southeast Asian startups fell below $1 billion in Q3 2024. Venture capital and private equity investment in China fell 38.7% year-on-year in the first half of 2024, raising concerns that China is falling behind the U.S. in cutting-edge technologies. Despite a strong pull from the AI sector, venture investment in the third quarter of 2024 continued its more than two-year-long slump. Private equity and venture capital bets fell 40% to $8.8 billion in Q2 2024. The value of VC deals dropped 59% in Q3 amid a global slowdown, falling from a five-quarter high of $95.5 billion in Q2 to a near seven-year low of $70 billion in Q3.