Asia-Pacific’s technology industry saw a drop of 10.64% in cross border deal activity during January 2021, when compared with the last 12-month average, led by Beijing Xicheng Jinrui Equity Investment Fund Management, Boyu Capital Consultancy, China Development Bank, China ReformLtd, CSC Financial, FountainVest Partners, Goldman Sachs Asia Securities, Haitong Securities, HOPU Jinghua (Beijing) Investment ManagementLimited, JIC TechnologyLimited, JinYi Capital, National Manufacturing Transformation and Upgrading Fund, Primavera Capital Group and Sequoia Capital China’s $700m acquisition of Beijing Wusi Chuangxiang Technology, according to GlobalData’s deals database.
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A total of 84 technology industry cross border deals worth $2.24bn were announced for the region in January 2021, against the 12-month average of 94 deals.
Of all the deal types, venture financing saw most activity in January 2021 with 61 transactions, representing a 72.6% share for the region.
In second place was M&A with 19 deals, followed by private equity deals with four transactions, respectively capturing a 22.6% and 4.8% share of the overall cross border deal activity for the month.
In terms of value of cross border deals, venture financing was the leading category in Asia-Pacific’s technology industry with $2.13bn, while M&A and private equity deals totalled $72.98m and $40m, respectively.
Asia-Pacific technology industry cross border deals in January 2021: Top deals
The top five technology cross border deals accounted for 79.9% of the overall value during January 2021.
The combined value of the top five technology cross border deals stood at $1.79bn, against the overall value of $2.24bn recorded for the month.
The top five technology industry cross border deals of January 2021 tracked by GlobalData were:
1) Beijing Xicheng Jinrui Equity Investment Fund Management, Boyu Capital Consultancy, China Development Bank, China ReformLtd, CSC Financial, FountainVest Partners, Goldman Sachs Asia Securities, Haitong Securities, HOPU Jinghua (Beijing) Investment ManagementLimited, JIC TechnologyLimited, JinYi Capital, National Manufacturing Transformation and Upgrading Fund, Primavera Capital Group and Sequoia Capital China’s $700m venture financing of Beijing Wusi Chuangxiang Technology
2) The $400m venture financing deal with Horizon Robotics by Aspex, Baillie Gifford, China Securities, Citic Private Equity Funds Management, CloudAlpha Tech Fund, Contemporary Amperex Technology, Hermitage Capital HK, Neumann Advisors, ORIX, SDHS Capital, YF Capital and Yuantai Changqing Fund
3) Bertelsmann Asia Investments, Coatue Management, GGV Capital, Hillhouse Capital Group, Jeneration Capital, Morningside Venture Capital Group, SoftBank Vision Fund and Tencent Holdings’ $360m venture financing of Beijing Calorie Technology
4) The $280m venture financing of Udaan.com by Altimeter Capital Management, DST Global, GGV Capital, Lightspeed Management Company, Moonstone Capital Partners, Octahedron Capital Management and Tencent Holdings
5) Digital Advertising Consortium, Environmental Energy Investment, GREE Ventures, Hakuhodo DY Media Partners, JIC Venture Growth Investments, Nippon Venture Capital and SBI Group’s venture financing of Nyle for $48.3m.
Verdict deals analysis methodology
This analysis considers only announced and completed artificial intelligence deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.