1. Deals Analysis
February 1, 2021

Technology industry cross border venture financing deals total $1.97bn in Asia-Pacific in December 2020

By Carmen

Total technology industry cross border venture financing deals worth $1.97bn were announced in Asia-Pacific in December 2020, led by GL Ventures, Hillhouse Capital Group, Tencent Holdings and TrustBridge Partners’ venture financing of Hangzhou Lianke Meixun Biomedical Technology, according to GlobalData’s deals database.

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The value marked an increase of 87.6% over the previous month of $1.05bn and a rise of 65.6% when compared with the last 12-month average of $1.19bn.

Asia-Pacific held a 42.18% share of the global technology industry cross border venture financing deal value that totalled $4.67bn in December 2020. With a 29.12% share and deals worth $1.36bn, China 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 53 deals during December 2020, marking a decrease of 15.87% over the previous month and a drop of 11.67% over the 12-month average. China recorded 16 deals during the month.

Asia-Pacific technology industry cross border venture financing deals in December 2020: Top deals

The top five technology industry cross border venture financing deals accounted for 58.9% of the overall value during December 2020.

The combined value of the top five technology cross border venture financing deals stood at $1.16bn, against the overall value of $1.97bn recorded for the month.

The top five technology industry cross border venture financing deals of December 2020 tracked by GlobalData were:

1) GL Ventures, Hillhouse Capital Group, Tencent Holdings and TrustBridge Partners’ $500m venture financing of Hangzhou Lianke Meixun Biomedical Technology

2) The $210m venture financing of Zhejiang Yiqi Education Technology by Bojia Capital, China Fortune Financial Group, Chuangzhi Capital, Fortune Caizhi, Guangzhou Yingrui Capital Management, SAIF Partners China and The Rise Fund

3) BOCOM International HoldingsLimited, CCB Fund Management, China Creation Ventures, KION GROUP, Liandao Assets, Prosperity7 Ventures and Shenwan Hongyuan Group’s $152.94m venture financing of Flashhold

4) The $150m venture financing of SHorizon Robotics by 5Y Capital, Capital Today, Guotai Junan International, Hillhouse Capital Group and KTB Network (Shanghai Office)

5) Google and Mithril Capital Management’ venture financing of Glance Digital Experience for $145m.

Verdict deals analysis methodology

This analysis considers only announced and completed 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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