Led by $30m venture financing of Mavenoid, Europe’s technology industry saw a drop of 13.38% in future of work deal activity during Q3 2022, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 34 future of work deals worth $187.4m were announced for the region during Q3 2022, against the last four-quarter average of 39.25 deals.
Of all the deal types, venture financing saw most activity in Q3 2022 with 17 deals, representing a 50% share for the region.
In second place was M&A with 15 deals, followed by private equity deals with two transactions, respectively capturing a 44.1% and 5.9% share of the overall future of work deal activity for the quarter.
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In terms of value of future of work deals, venture financing was the leading category in Europe’s technology industry with $173.51m, followed by M&A deals totalled $13.84m.
Europe technology industry future of work deals in Q3 2022: Top deals
The top five technology future of work deals accounted for a 59.1% share of the overall value during Q3 2022.
The combined value of the top five future of work deals stood at $110.76m, against the overall value of $187.4m recorded for the quarter.
1) ABB Technology Ventures, Creandum Advisor, Mosaic Ventures, NordicNinja VC, Point Nine Capital, Smedvig Capital and SVBUK’s $30m venture financing deal with Mavenoid
2) The $24.76m venture financing of Wire Swiss by Cipio Partners, Iconical and UVC Partners
3) Beacon Equity Partners, Fidelity International Strategic Ventures, Illuminate Financial Management and Ten Coves Capital’s $21m venture financing deal with SteelEye
4) The $20m venture financing of RPA Supervisor by Dawn Capital, MMC Ventures and S16VC
5) Armilar Venture Partners SCR, Bright Pixel Capital, Caixa Capital Risc SGEIC, Faber Ventures, Iberis Capital and Join Capital’s $15m venture financing deal with Codacy