Total financial services industry venture financing deals worth $1.8bn were announced in North America in March 2022, led by $300m venture financing of Acorns Grow, according to GlobalData’s deals database.

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The value marked an increase of 31.6% over the previous month of $1.36bn and a drop of 6.8% when compared with the last 12-month average of $1.92bn.

North America held a 56.83% share of the global financial services industry venture financing deal value that totalled $3.15bn in March 2022. With a 55.56% share and deals worth $1.75bn, the US was the top country in North America’s venture financing deal value across financial services industry.

In terms of venture financing deal activity, North America recorded 43 deals during March 2022, marking a decrease of 6.52% over the previous month and a drop of 21.82% over the 12-month average. The US recorded 40 deals during the month.

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North America financial services industry venture financing deals in March 2022: Top deals

The top five financial services industry venture financing deals accounted for 55.4% of the overall value during March 2022.

The combined value of the top five financial services venture financing deals stood at $990m, against the overall value of $1.8bn recorded for the month.

The top five financial services industry venture financing deals of March 2022 tracked by GlobalData were:

1) Bain Capital Ventures,BlackRock,Galaxy Digital,Greycroft Partners,Industry Ventures Fund IV,Owl Rock Capital,Senator Investment Group,Thirty Five Ventures,Torch Capital and TPG Capital $300m venture financing deal with Acorns Grow

2) The $245m venture financing of FattMerchant by Blue Star Innovation Partners,Greater Sum Ventures and HarbourVest Partners

3) First American Financial,Foundry Group,Mauricio Umansky,National Association of Realtors,Night Shyamalan and RRE Ventures $220m venture financing deal with Knockaway

4) The $125m venture financing of PolicyGenius by AXA Venture Partners,Brighthouse Financial,Global Atlantic Financial Group,IA Financial Group,KKRInc,Lincoln Financial,Mass Mutual Ventures,Norwest Venture Partners,Pacific Life Insurance and Revolution Ventures

5) Insight Partners $100m venture financing deal with Snappt