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  1. Deals Analysis
August 24, 2022

US financial services industry sees a drop of 64.66% in deal activity in July 2022

By Carmen

US financial services industry saw a drop of 64.66% in overall deal activity during July 2022, when compared with the last 12-month average, led by Kennedy Lewis Investment Management’s $175m private equity deal with Sanctuary Wealth Management, according to GlobalData’s deals database.

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A total of 47 deals worth $380.1m were announced in July 2022, compared with the 12-month average of 133 deals.

M&A was the leading category in the month in terms of volume with 30 deals, which accounted for 63.8% of all deals.

In second place was venture financing with 14 deals, followed by private equity with three transactions, respectively accounting for 29.8% and 6.4% of overall deal activity in the US technology industry during the month.

In terms of value of deals, private equity was the leading deal category in the US financial services industry with total deals worth $175m, while venture financing and M&A deals totalled $113.1m and $92m, respectively.

US financial services industry deals in July 2022: Top deals

The top five financial services industry deals accounted for 91.3% of the overall value during July 2022.

The combined value of the top five financial services deals stood at $347m, against the overall value of $380.1m recorded for the month.

The top five financial services industry deals of July 2022 tracked by GlobalData were:

1) Kennedy Lewis Investment Management $175m private equity deal with Sanctuary Wealth Management

2) The $92m acquisition of 35% stake in Avenue Holding Cayman by Itau Unibanco Holding

3) Morgan Health $30m venture financing deal with Centivo

4) The $25m venture financing of X1 Card by Abstract Ventures, Chainsmokers, Craft Ventures, FPV Ventures, Global Founders Capital, Harrison Metal Capital, Spark Capital and SV Angel

5) Altonomy, Anthony Sassano, Balaji Srinivasan, Coinbase Ventures, Dragonfly Capital Partners, Electric Capital, Evernew Capital, Fabric Ventures, GSR Capital Group, Jason Choi, Jump Crypto, Kraken Ventures, Kronos Research, Ledger Prime, Meltem Demirors, Space Whale Capital and Wintermute $25m venture financing deal with Hashflow

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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