Led by $500m venture financing of GL Ventures, Hillhouse Capital Group, Tencent Holdings and TrustBridge Partners, total technology industry cross border venture financing deals worth $3.57bn were announced in Asia-Pacific in Q4 2020, according to GlobalData’s deals database.
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The value marked a decrease of 0.6% over the previous quarter and a drop of 22.7% when compared with the last four-quarter average of $4.62bn.
Asia-Pacific held a 31.40% share of the global technology industry cross border venture financing deal value that totalled $11.37bn in Q4 2020. With a 21.99% share and deals worth $2.5bn, China was the top country in Asia-Pacific’s cross border venture financing deal value across technology industry.
In terms of deal activity, Asia-Pacific recorded 173 cross border deals during Q4 2020, marking a decrease of 8.95% over the previous quarter and a drop of 5.46% over the last four-quarter average. India recorded 52 deals during the month.
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By GlobalDataAsia-Pacific technology industry cross border venture financing deals in Q4 2020: Top deals
The top five cross border venture financing deals accounted for 39.8% of the overall value during Q4 2020.
The combined value of the top five technology cross border venture financing deals stood at $1.42bn, against the overall value of $3.57bn recorded for the quarter.
The top five technology cross border deals of Q4 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 $315m venture financing of ZKH Industrial Supply by China Structural Reform Fund, Eastern Bell Capital, Genesis Capital China, GLP-C&D Equity Investment Fund, Legend Capital, Matrix Partners China, Shenzhen Cowincapital, Tencent Holdings, Tiger Management, Xiamen C&D and Yunfeng Capital
3) Bojia Capital, China Fortune Financial Group, Chuangzhi Capital, Fortune Caizhi, Guangzhou Yingrui Capital Management, SAIF Partners China and The Rise Fund’s $210m venture financing of Zhejiang Yiqi Education Technology
4) The $200m venture financing of Gaosi Education Group by GIC and Warburg Pincus
5) Baring Private Equity Asia, BOC International Holdings, Bohai Zhongsheng, CITIC Securities, CMB International Capital, GoldStone InvestmentLtd , Greater Bay Area Homeland Development Fund, Guangdong Technology Financial GroupLimited, Guangdong Wen’s Investment, Hillhouse Capital Group, Sino-Ocean Capital and Youshan Capital’s venture financing of Shenzhen DianMao Digital Technology for $197.56m.
