Led by $250m venture financing of Better World Technology Pvt., total financial services industry cross border venture financing deals worth $1.6bn were announced in Asia-Pacific in Q2 2021, according to GlobalData’s deals database.

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The value marked an increase of 54.8% over the previous quarter and a rise of 187.5% when compared with the last four-quarter average of $560m.

Asia-Pacific held an 18.51% share of the global financial services industry cross border venture financing deal value that totalled $8.7bn in Q2 2021. With a 6.32% share and deals worth $549.8m, India was the top country in Asia-Pacific’s cross border venture financing deal value across financial services industry.

In terms of deal activity, Asia-Pacific recorded 48 cross border deals during Q2 2021, marking an increase of 41.18% over the previous quarter and a rise of 62.71% over the last four-quarter average. India recorded 14 deals during the month.

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Asia-Pacific financial services industry cross border venture financing deals in Q2 2021: Top deals

The top five cross border venture financing deals accounted for 48.1% of the overall value during Q2 2021.

The combined value of the top five financial services cross border venture financing deals stood at $772.44m, against the overall value of $1.6bn recorded for the quarter.

The top five financial services cross border deals of Q2 2021 tracked by GlobalData were:

1) Sodexo and SoftBank Vision Fund II’s $250m venture financing of Better World Technology Pvt.

2) The $167m venture financing of Voyager Innovations by IFC Financial Institutions Growth Fund (FIG Fund), Kohlberg Kravis RobertsLP, PLDT and Tencent- Assets

3) Cathay Capital Private Equity, Hike Capital, Northern Light Venture Capital, Qiming Venture Partners, Source Code Capital and Susquehanna International Group’s $155.44m venture financing of Yuanbao Insurance Broker (Beijing)

4) The $100m venture financing of Amber Group by Arena Holdings, Blockchain Luxembourg, China Renaissance Partners, Coinbase Ventures, DCM Ventures, Gobi Partners, Pantera Capital Management, Sky9 Capital, Tiger Brokers, Tiger Global Management and Tru Arrow Partners

5) Nityo Infotech, NTT Investment Partners Fund and Singapura Finance’s venture financing of MatchMove Pte. for $100m.