PE, VC markets steady in April

Chinese private equity and venture capital market in April remained steady while strategic investors became active, according to a ChinaVenture Group report on Thursday.

The report said that eight funds were set up in April that aimed to raise $471 million. Another eight funds finished financing totaling $4 billion.

Nineteen deals totaling $130 million were made in the Chinese PE and VC markets in April. The largest such deal involved Alibaba, China's biggest e-commerce group, which invested $586 million in Sina Weibo, the largest Twitter-like service in the country, for an 18 percent stake. Alibaba also invested in two other mobile Internet companies in April.

Tecent also invested in xiaojukeji.com last month.