Total technology industry cross border venture financing deals worth $379.7m were announced in the UK in May 2021, led by $65m venture financing of CheckRecipient, according to GlobalData’s deals database.

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The value marked an increase of 31.5% over the previous month of $288.77m and a drop of 0.2% when compared with the last 12-month average of $380.59m.

The UK held a 4.53% share of the global technology industry cross border venture financing deal value that totalled $8.39bn in May 2021.

In terms of cross border venture financing deal activity, the UK recorded 29 deals during May 2021, marking a decrease of 3.33% over the previous month and a rise of 20.83% over the 12-month average.

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UK technology industry cross border venture financing deals in May 2021: Top deals

The top five technology industry cross border venture financing deals accounted for 57.1% of the overall value during May 2021.

The combined value of the top five technology cross border venture financing deals stood at $216.95m, against the overall value of $379.7m recorded for the month.

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

1) Accel, Balderton Capital, Latitude Ventures, March Capital Partner, Schroder Adveq Management and Sequoia Capital Operations’ $65m venture financing of CheckRecipient

2) The $50m venture financing of Copper Technologies (UK) by Dawn Capital, Illuminate Financial Management, LocalGlobe, MMC Ventures and Target Global

3) Digitalplus and HV Capital Adviser’s $41.95m venture financing of Zencargo

4) The $30m venture financing of Hellostake by DST Global and Tiger Global Management

5) Astanor Ventures, Draper Esprit VCT, Future Positive Capital, Lowercarbon Capital, Time Ventures/ and UNTITLED’s venture financing of Cervest for $30m.