1. Deals Analysis
March 21, 2021

Technology industry venture financing deals total $11.98bn in North America in February 2021

By Carmen

Total technology industry venture financing deals worth $11.98bn were announced in North America in February 2021, led by $1bn venture financing of Databricks, according to GlobalData’s deals database.

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The value marked an increase of 38.3% over the previous month of $8.66bn and a rise of 119.01% when compared with the last 12-month average of $5.47bn.

North America held a 71.44% share of the global technology industry venture financing deal value that totalled $16.77bn in February 2021. With a 67.74% share and deals worth $11.36bn, the US was the top country in North America’s venture financing deal value across technology industry.

In terms of venture financing deal activity, North America recorded 423 deals during February 2021, marking an increase of 0.71% over the previous month and a rise of 9.30% over the 12-month average. The US recorded 393 deals during the month.

North America technology industry venture financing deals in February 2021: Top deals

The top five technology industry venture financing deals accounted for 25.2% of the overall value during February 2021.

The combined value of the top five technology venture financing deals stood at $3.02bn, against the overall value of $11.98bn recorded for the month.

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

1) Alkeon Capital, Amazon Web Services, Andreessen Horowitz, BlackRock, Canada Pension Plan Investment Board, CapitalG Management Co, Coatue Management, Discovery Capital Management, Dragoneer Investment Group, Fidelity Management & ResearchLLC, Founders Circle Capital, Franklin Resources, Geodesic, GIC, Green Bay Ventures, Greenoaks Capital Management, Microsoft, New Enterprise Associates, Octahedron Capital Management, Salesforce Ventures, T. Rowe Price Group, Tiger Global Management and Whale Rock Capital Management’s $1bn venture financing of Databricks

2) The $750m venture financing of UiPath by Alkeon Capital, Altimeter Capital Management, Coatue Management, Dragoneer Investment Group, IVP, Sequoia Capital VI and Tiger Global Management

3) Advent International and Oaktree Capital Management’s $750m venture financing of Thras.io

4) The $270m venture financing of SPlume Design by Insight Partners

5) Andreessen Horowitz, Sequoia Capital Operations, Tencent Holdings and VY Capital’ venture financing of reddit for $250m.

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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