1. Deals Analysis
June 25, 2021

Technology industry cross border venture financing deals total $1.5bn in Asia-Pacific in May 2021

By Carmen

Total technology industry cross border venture financing deals worth $1.5bn were announced in Asia-Pacific in May 2021, led by $285m venture financing of Pine Labs, according to GlobalData’s deals database.

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The value marked a decrease of 44% over the previous month of $2.73bn and a drop of 1.9% when compared with the last 12-month average of $1.56bn.

Asia-Pacific held an 18.24% share of the global technology industry cross border venture financing deal value that totalled $8.39bn in May 2021. With a 4.27% share and deals worth $358.5m, India was the top country in Asia-Pacific’s cross border venture financing deal value across technology industry.

In terms of cross border venture financing deal activity, Asia-Pacific recorded 72 deals during May 2021, marking a decrease of 6.49% over the previous month and a rise of 7.46% over the 12-month average. India recorded 19 deals during the month.

Asia-Pacific technology industry cross border venture financing deals in May 2021: Top deals

The top five technology industry cross border venture financing deals accounted for 49.6% of the overall value during May 2021.

The combined value of the top five technology cross border venture financing deals stood at $758.88m, against the overall value of $1.5bn recorded for the month.

The top five technology industry cross border venture financing deals of May 2021 tracked by GlobalData were:

1) Baron Capital Group, Duro Capital (Singapore) Advisors, Lone Pine Capital, Marshall Wace, Moore Strategic Ventures, Sunley House Capital Management, Temasek Holdings (Private) and Ward Ferry Management’s $285m venture financing of Pine Labs

2) The $175m venture financing of Riiid by SoftBank Vision Fund II

3) Falcon Edge Capital, Harvard Management, Sequoia Capital India, Tiger Global Management and Venture Highway’s $120m venture financing of Moglilabs

4) The $90m venture financing of SAthena Mortgage by AirTree Ventures, Apex Capital Partners, AustralianSuper, HostPlus, Macquarie Bank, Salesforce Ventures, Square Peg Capital and Sunsuper

5) AppWorks Ventures, Axie Infinity, Ellerston Capital, HashKey Capital, Huobi Global, Kingsway Capital, LCV Fund XVIII, Liberty City Ventures, Metapurse, Octava, Perennial International, RIT Capital Partners and SNZ Holding’ venture financing of Animoca Brands for $88.88m.

Verdict deals analysis methodology

This analysis considers only announced and completed cross border 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.

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