1. Deals Analysis
March 21, 2021

Technology industry venture financing deals total $2.44bn in Asia-Pacific in February 2021

By Carmen

Total technology industry venture financing deals worth $2.44bn were announced in Asia-Pacific in February 2021, led by $390m venture financing of Beijing Chalk Blue Sky Technology, according to GlobalData’s deals database.

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The value marked a decrease of 53.4% over the previous month of $5.24bn and a drop of 38.9% when compared with the last 12-month average of $3.99bn.

Asia-Pacific held a 14.55% share of the global technology industry venture financing deal value that totalled $16.77bn in February 2021. With a 9.12% share and deals worth $1.53bn, China was the top country in Asia-Pacific’s venture financing deal value across technology industry.

In terms of venture financing deal activity, Asia-Pacific recorded 234 deals during February 2021, marking a decrease of 25.24% over the previous month and a drop of 26.18% over the 12-month average. China recorded 86 deals during the month.

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

The top five technology industry venture financing deals accounted for 43.5% of the overall value during February 2021.

The combined value of the top five technology venture financing deals stood at $1.06bn, against the overall value of $2.44bn recorded for the month.

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

1) Citic Private Equity Funds Management, Dehong Capital, Hony Capital, Huaxing New Economic Fund, IDG Capital, Jinfang Hongrui Investment Management, Kunyu Runyuan Zichan and Trust Capital’s $390m venture financing of Beijing Chalk Blue Sky Technology

2) The $350m venture financing of Horizon Robotics by BYD Auto, Changzhou Xingyu Car Lamp, Dongfeng Asset Management, Great Wall Motor, Shanghai AI Innovation and Sunny Optical Technology (Group)

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

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

5) Glade Brook Capital Partners and Qatar Investment Authority’ venture financing of Verse Innovation for $100m.

Verdict deals analysis methodology

This analysis considers only announced and completed cloud-deals 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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