Caixin reports raising money from once-generous venture capitalists is becoming a more-challenging task for many startup founders in China, as the economy continues to slow and stock market volatility makes investors more cautious. Venture capital firms made 698 investments in China in the third quarter this year, down 34% from the same period last year, according to Beijing-based Zero2IPO Research Center. The investment value of the 631 deals that released financial details totaled 21 billion yuan ($3.1 billion), a 12.5% drop from a year before. Research from financial consultancy Taihe Capital indicated a broad capital market chill. From January through August, Chinese companies raised a total of 35.3 billion yuan through initial public offerings (IPOs) at home and abroad, a drop of 86% from the same period last year.