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US and Chinese startup investments swell amid pandemic

Money flows into health care and digital transformation-related sectors

Venture capital investment in the U.S. hit a record high in 2020, led by the health care and corporate services industries amid the COVID pandemic. (Photo by Kosaku Mimura)

PALO ALTO, U.S./TOKYO -- Despite the novel coronavirus pandemic, startup investments are booming in the U.S. and China, the world's two largest economies.

Venture capital investment in the U.S. surged 13% from 2019 to a record annual high of $156.2 billion (16.2 trillion yen) in 2020, led by the health care sector and industries related to software-as-a-service, or SaaS. The previous record of $142.7 billion was set in 2018.

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