1. Deals Analysis
June 20, 2021

Technology industry venture financing deals total $3.5bn in Asia-Pacific in May 2021

By Carmen

Total technology industry venture financing deals worth $3.5bn were announced in Asia-Pacific in May 2021, led by $285m venture financing of Pine Labs, according to GlobalData’s deals database.

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The value marked a decrease of 35.4% over the previous month of $5.46bn and a drop of 26.2% when compared with the last 12-month average of $4.78bn.

Asia-Pacific held a 17.43% share of the global technology industry venture financing deal value that totalled $20.25bn in May 2021. With an 8.10% share and deals worth $1.64bn, 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 293 deals during May 2021, marking a decrease of 13.82% over the previous month and a drop of 11.75% over the 12-month average. China recorded 122 deals during the month.

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

The top five technology industry venture financing deals accounted for 22.4% of the overall value during May 2021.

The combined value of the top five technology venture financing deals stood at $789.45m, against the overall value of $3.5bn recorded for the month.

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

1) Baron Capital Group, Duro Capital (Singapore) Advisors, Lone Pine Capital, Marshall Wace, Moore Strategic Ventures, Sunley House Capital Management, Temasek Holdings (Private) and Ward Ferry Management’s $285m venture financing of Pine Labs

2) The $175m venture financing of Riiid by SoftBank Vision Fund II

3) Falcon Edge Capital, Harvard Management, Sequoia Capital India, Tiger Global Management and Venture Highway’s $120m venture financing of Moglilabs

4) The $109.45m venture financing of SShenzhen Xunce Technology by Citic Private Equity Funds Management, Goldman SachsLLC, Greater Bay Area Homeland Investments, Taikang Insurance Group and Tencent Investment

5) Dragoneer Investment Group, Eight Roads Ventures, Fundamentum, Honeywell Ventures Capital and TCV’ venture financing of RoboticWares for $100m.

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence 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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