1. Deals Analysis
March 21, 2021

Technology industry cross border venture financing deals total $769.27m in Asia-Pacific in February 2021

By Carmen

Total technology industry cross border venture financing deals worth $769.27m were announced in Asia-Pacific in February 2021, led by $120.21m venture financing of ZetwerkLtd., according to GlobalData’s deals database.

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The value marked a decrease of 64.6% over the previous month of $2.17bn and a drop of 31.9% when compared with the last 12-month average of $1.13bn.

Asia-Pacific held a 16.40% share of the global technology industry cross border venture financing deal value that totalled $4.69bn in February 2021. With a 12.07% share and deals worth $565.93m, 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 68 deals during February 2021, marking a decrease of 5.56% over the previous month and a rise of 11.48% over the 12-month average. India recorded 28 deals during the month.

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

The top five technology industry cross border venture financing deals accounted for 67% of the overall value during February 2021.

The combined value of the top five technology cross border venture financing deals stood at $515.21m, against the overall value of $769.27m recorded for the month.

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

1) Greenoaks Capital Management, Kae Capital ManagementLtd., Lightspeed Management Company and Sequoia Capital India’s $120.21m venture financing of ZetwerkLtd.

2) The $100m venture financing of Guangzhou Quwan Network Technology by Jingwei China and Orchid Asia Group Management

3) Glade Brook Capital Partners and Qatar Investment Authority’s $100m venture financing of Verse Innovation

4) The $100m venture financing of SHella Infra Market by Accel Partners (India), Evolvence India Fund II, Fundamental Capital, Nexus Venture Partners, Sistema Asia Fund and Tiger Global Management

5) Base Partners, Composite Capital Management, Founders Circle Capital, Go-Ventures, Moore Strategic Ventures, Play Ventures, RTP Global – UK, SIG and Telstra Ventures’ venture financing of Galactus Funware Technology for $95m.

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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