Asia-Pacific’s financial services industry saw a drop of 9.09% in cross border deal activity during January 2021, when compared with the last 12-month average, led by Hanwha Asset Management’s $300m acquisition of Grab Financial Group, according to GlobalData’s deals database.
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A total of 20 financial services industry cross border deals worth $658.35m were announced for the region in January 2021, against the 12-month average of 22 deals.
Of all the deal types, venture financing saw most activity in January 2021 with ten transactions, representing a 50% share for the region.
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By GlobalDataIn second place was M&A with nine deals, followed by private equity deals with one transactions, respectively capturing a 45% and 5% share of the overall cross border deal activity for the month.
In terms of value of cross border deals, venture financing was the leading category in Asia-Pacific’s financial services industry with $473.22m, while private equity and M&A deals totalled $175m and $10.13m, respectively.
Asia-Pacific financial services industry cross border deals in January 2021: Top deals
The top five financial services cross border deals accounted for 94.9% of the overall value during January 2021.
The combined value of the top five financial services cross border deals stood at $625m, against the overall value of $658.35m recorded for the month.
The top five financial services industry cross border deals of January 2021 tracked by GlobalData were:
1) Hanwha Asset Management’s $300m venture financing of Grab Financial Group
2) The $175m private equity deal with Globe Fintech Innovations by ASP Philippines
3) Affirma Capital, Goodwater Capital, Kora Management, Macquarie Capital (USA), Tybourne Capital Management (HK) and Warburg Pincus’ $100m venture financing of M_Service
4) The $25m venture financing of Ajaib by Alpha JWC Ventures, Horizons Ventures, Insignia Ventures Partners, SoftBank Ventures Asia and Y Combinator Management
5) Coinbase Ventures, Galaxy Digital Ventures and Pantera Capital Management’s venture financing of Terraform labs for $25m.
