Total financial services industry deals worth $12.6bn were announced globally for May 2021, with the $1.2bn acquisition of BitGo being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 18.2% over the previous month of $15.42bn and a drop of 26.9% when compared with the last 12-month average of $17.26bn.

In terms of number of deals, the sector saw a rise of 1.38% with 294 deals in May 2021 when compared to the last 12-month average of 290 deals.

In value terms, North America led the activity with deals worth $5.84bn in May 2021.

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financial services industry deals in May 2021: Top deals

The top five deals accounted for 33.2% of the overall value during May 2021.

The combined value of the top five deals stood at $4.19bn, against the overall value of $12.6bn recorded for the month.

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

1) Galaxy Digital Holdings’ $1.2bn acquisition of BitGo

2) The $942.6m acquisition of Aon UK by Berkshire Hathaway

3) Accel, Creandum Advisor, Founders Fund, Project A Services GmbHKG, Sequoia Capital Operations, TCMI and Thrive Capital Partners’ $900m venture financing of Trade Republic Bank

4) The $610m venture financing deal of Wealthsimple by Aubrey Drake Graham, Greylock Partners, iNovia Capital, Meritech Capital Partners, Michael J. Fox, Redpoint Ventures, Ryan Reynolds , Sagard, TCV and Two Sigma Ventures

5) Abu Dhabi Investment Authority, Franklin Templeton Asset Management (India), HDFC Mutual Fund, Kuwait Investment Authority, Norges Bank, SBI Mutual Fund and The Vanguard Group’s venture financing deal with SBI Life Insurance for $532.93m.