Total financial services industry venture financing deals worth $813.8m were announced in Asia-Pacific in May 2021, led by $250m venture financing of Better World Technology Pvt., according to GlobalData’s deals database.

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The value marked an increase of 21.01% over the previous month of $672.48m and a rise of 124.8% when compared with the last 12-month average of $362.06m.

Asia-Pacific held an 11.81% share of the global financial services industry venture financing deal value that totalled $6.89bn in May 2021. With a 4.43% share and deals worth $305.44m, 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 28 deals during May 2021, marking an increase of 12.00% over the previous month and a rise of 21.74% over the 12-month average. India recorded seven deals during the month.

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Asia-Pacific financial services industry venture financing deals in May 2021: Top deals

The top five financial services industry venture financing deals accounted for 79.9% of the overall value during May 2021.

The combined value of the top five financial services venture financing deals stood at $650.44m, against the overall value of $813.8m recorded for the month.

The top five financial services industry venture financing deals of May 2021 tracked by GlobalData were:

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

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

3) Glory Ventures’ $120m venture financing of Yaotu Capital

4) The $65m venture financing of SPT Bibit Tumbuh Bersama by AC Ventures, East Ventures, Harvard Management, Prosus Ventures, Sequoia Capital India and Tencent Holdings

5) Checkout, GGV Capital, Helios Investment Partners and Insight Partners’ venture financing of TTMFS Singapore for $60m.