The $70m venture financing of Cover Genius was the financial services industry’s top venture financing deal as total deals worth $561.2m were announced globally in November 2022, according to GlobalData’s deals database.
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The value marked a decrease of 52.03% over the previous month of $1.17bn and a drop of 79.8% when compared with the last 12-month average, which stood at $2.78bn.
Comparing venture financing deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals in the period worth $217.77m. At the country level, the US topped the list in terms of deal value at $178.7m.
In terms of volumes, Europe emerged as the top region for financial services industry venture financing deals globally, followed by North America and then Asia-Pacific.
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The top country in terms of venture financing deals activity in November 2022 was the US with 19 deals, followed by the UK with ten and France with four.
In 2022, as of November, financial services venture financing deals worth $27.76bn were announced globally, marking a decrease of 44% year on year.
financial services industry venture financing deals in November 2022: Top deals
The top five financial services industry venture financing deals accounted for 35.7% of the overall value during November 2022.
The combined value of the top five financial services venture financing deals stood at $200.18m, against the overall value of $561.2m recorded for the month.
The top five financial services industry venture financing deals of November 2022 tracked by GlobalData were:
1) Atlas Merchant Capital Fund, Dawn Capital, G Squared and King River Capital’s $70m venture financing deal with Cover Genius
2) The $47.88m venture financing of Gojo &Inc. by Ltd.), ACA Investments Pte., Chiba Dojo Fund, FFG Venture Business Partners, GMO Venture Partners, Hakuhodo DY Ventures, Hashimoto Foundation, HFA Capital, iSGS Investment Works, ITOCHU- Japan, KDDI Open Innovation Fund 3, Marubeni, Miyagin Venture Capital, QR Investment, Samurai Incubate Fund No. 6 Investment BusinessLiability Union, SMBC Nikko Securities, Sumisho Venture Partners, TGVest Capital, Tsuneishi Capital Partners and Venture Labo(Venture Labo Investment Co.
3) Abrdn, BitRock Capital, Blockchain Coinvestors, CE Innovation Capital, Keiretsu Capital, Lingfeng Capital, Mathrix, SGH CAPITAL and Tezos Foundation’s $28.5m venture financing deal with Archax
4) The $27.8m venture financing of Lemon Cash by Cadenza Ventures, CMT Digital Ventures, DST Global, FTX Ventures, Goodwater Capital and Valor Capital Management
5) Aquiline Technology Growth’s $26m venture financing deal with Commercialinsurance.NET