The $285.58m venture financing of China Korea Life Insurance was the financial services industry’s top cross border venture financing deal as total deals worth $1.7bn were announced globally in March 2022, according to GlobalData’s deals database.

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The value marked a decrease of 10.2% over the previous month of $1.86bn and a drop of 41.6% when compared with the last 12-month average, which stood at $2.86bn.

Comparing cross border venture financing deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals in the period worth $614.4m. At the country level, the US topped the list in terms of deal value at $574.54m.

In terms of volumes, Asia-Pacific emerged as the top region for financial services industry cross border venture financing deals globally, followed by North America and then Europe.

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The top country in terms of cross border venture financing deals activity in March 2022 was the US with 12 deals, followed by the India with five and the UK with four.

In 2022, as of March, financial services cross border venture financing deals worth $6.38bn were announced globally, marking a decrease of 23.9% year on year.

financial services industry cross border venture financing deals in March 2022: Top deals

The top five financial services industry cross border venture financing deals accounted for 56.9% of the overall value during March 2022.

The combined value of the top five financial services cross border venture financing deals stood at $948.61m, against the overall value of $1.7bn recorded for the month.

The top five financial services industry cross border 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 $220m venture financing of Knockaway by First American Financial,Foundry Group,Mauricio Umansky,National Association of Realtors,Night Shyamalan and RRE Ventures

3) Creandum Advisor,Hjalmar Winbladh,Ilkka Paananen,Jacob de Geer and LocalGlobe $181.03m venture financing deal with ArK Kapital

4) The $137m venture financing of Credavenue by B Capital Group,Dragoneer Investment Group and Insight Partners

5) AXA Venture Partners,Brighthouse Financial,Global Atlantic Financial Group,IA Financial Group,KKRInc,Lincoln Financial,Mass Mutual Ventures,Norwest Venture Partners,Pacific Life Insurance and Revolution Ventures $125m venture financing deal with PolicyGenius