PE shuns China fintech startups amid P2P worries

Private investment into financial technology slowed sharply in China last month, amid a crackdown on peer-to-peer (P2P) lending platforms and investors taking a more cautious stance on start-ups in the sector. Private equity and venture capital investment in the mainland internet sector totalled $1.5 billion in February, down from $4.2 billion in January, while flows into the financial sector collapsed to $49.7 million from $2.3 billion, according to Beijing-based ChinaVenture Inv…