Total financial services industry venture financing deals worth $790.5m were announced in Asia-Pacific in March 2022, led by $285.58m venture financing of China Korea Life Insurance, according to GlobalData’s deals database.
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The value marked an increase of 37% over the previous month of $577.22m and a drop of 8.5% when compared with the last 12-month average of $864.22m.
Asia-Pacific held a 25.10% share of the global financial services industry venture financing deal value that totalled $3.15bn in March 2022. With a 10.65% share and deals worth $335.58m, China was the top country in Asia-Pacific’s venture financing deal value across financial services industry.
In terms of venture financing deal activity, Asia-Pacific recorded 32 deals during March 2022, marking an increase of 18.52% over the previous month and a rise of 6.67% over the 12-month average. India recorded 12 deals during the month.
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Asia-Pacific financial services industry venture financing deals in March 2022: Top deals
The top five financial services industry venture financing deals accounted for 77.9% of the overall value during March 2022.
The combined value of the top five financial services venture financing deals stood at $615.58m, against the overall value of $790.5m recorded for the month.
The top five financial services industry venture financing deals of March 2022 tracked by GlobalData were:
1) Guotai Junan Securities,Wenzhou Delivery,Wenzhou Electric Power Investment,Wenzhou Guojin Industry And Trade,Zhejiang Changxing Tianneng Financial Holding and Zhejiang Dongfang Fuel $285.58m venture financing deal with China Korea Life Insurance
2) The $137m venture financing of Credavenue by B Capital Group,Dragoneer Investment Group and Insight Partners
3) Addition,Headline Group,HostPlus,Spark Capital and Square Peg Capital $73m venture financing deal with Zeller Australia
4) The $70m venture financing of Micro Connect Investments by ABC International,Adrian Cheng,Ausvic Capital,Chuang Capital,Dara Holdings,Horizons Ventures,Keywise Capital Management (HK),Lenovo Venture Capital,Sequoia Capital China and Vectr Fintech Partners
5) KuCoin Eco Fund,Matrix Partners and SIG $50m venture financing deal with Blofin