1. Deals Analysis
February 24, 2021

Technology industry future of work venture financing deals total $2.07bn globally in January 2021

By Carmen

The $700m venture financing of Beijing Wusi Chuangxiang Technology was the technology industry’s top future of work venture financing deal as total deals worth $2.07bn were announced globally in January 2021, according to GlobalData’s deals database.

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The value marked an increase of 36.2% over the previous month of $1.52bn and a rise of 171.5% when compared with the last 12-month average, which stood at $762.33m.

Comparing future of work venture financing deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals in the period worth $915.33m. At the country level, the China topped the list in terms of deal value at $913.4m.

In terms of volumes, North America emerged as the top region for technology industry future of work venture financing deals globally, followed by Asia-Pacific and then Europe.

The top country in terms of future of work venture financing deals activity in January 2021 was the US with 14 deals, followed by the China with ten and the UK with two.

In 2021, as of January, technology future of work venture financing deals worth $2.07bn were announced globally, marking an increase of 55.4% year on year.

technology industry future of work venture financing deals in January 2021: Top deals

The top five technology industry future of work venture financing deals accounted for 68.9% of the overall value during January 2021.

The combined value of the top five technology future of work venture financing deals stood at $1.43bn, against the overall value of $2.07bn recorded for the month.

The top five technology industry future of work venture financing deals of January 2021 tracked by GlobalData were:

1) Beijing Xicheng Jinrui Equity Investment Fund Management, Boyu Capital Consultancy, China Development Bank, China ReformLtd, CSC Financial, FountainVest Partners, Goldman Sachs Asia Securities, Haitong Securities, HOPU Jinghua (Beijing) Investment ManagementLimited, JIC TechnologyLimited, JinYi Capital, National Manufacturing Transformation and Upgrading Fund, Primavera Capital Group and Sequoia Capital China’s $700m venture financing of Beijing Wusi Chuangxiang Technology

2) The $350m venture financing of Calendly by ICONIQ Capital and OpenView Advisors

3) Accel, HV Capital Adviser, Lakestar Capital, Project A Services GmbHKG and Scania Growth Capital’ $160m venture financing of sennder

4) The $110m venture financing of Workato by Altimeter Capital Management, Battery Ventures, Insight Partners and Redpoint Ventures

5) China Development Bank Development Fund, Chuangyin Capital, CMC Capital Group, Guangdong Hengjian Investment Holding, Guangzhou Huacheng Venture Capital Management, Huajin Capital, Innovation Works, Kunzhong Capital, Qiming Venture Capital and Zhengzhou Yutong Bus’ venture financing of Wenyuan Zhixing for $110m.

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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