US financial services industry saw a drop of 21.28% in overall deal activity during April 2022, when compared with the last 12-month average, led by Bolt Financial’s $1.5bn acquisition of Wyre, according to GlobalData’s deals database.

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A total of 111 deals worth $3.3bn were announced in April 2022, compared with the 12-month average of 141 deals.

M&A was the leading category in the month in terms of volume with 67 deals, which accounted for 60.4% of all deals.

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In second place was venture financing with 35 deals, followed by private equity with nine transactions, respectively accounting for 31.5% and 8.1% of overall deal activity in the US technology industry during the month.

In terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $2.31bn, while private equity and venture financing deals totalled $500.82m and $496.33m respectively.

US financial services industry deals in April 2022: Top deals

The top five financial services industry deals accounted for 77.8% of the overall value during April 2022.

The combined value of the top five financial services deals stood at $2.58bn, against the overall value of $3.3bn recorded for the month.

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

1) Bolt Financial $1.5bn acquisition deal with Wyre

2) The $400m private equity of Circle Internet Financial by BlackRock,Fidelity Investments,Fin Capital and Marshall Wace

3) Callodine Group and East Asset Management $246.9m acquisition deal with Manning & Napier

4) The $230m acquisition of Bancshares of Jackson Hole by National Bank

5) Altai Capital Management,B Capital Group Management,Bloomberg Beta,Elisa Martelli,Founders Fund,Goldman Sachs Asset Management,Index Ventures Growth II,Meritech Capital Partners,Propel,PruVen Capital Partners Fund I,Susa Ventures,Tony Xu and XYZ Capital $200m venture financing deal with Newfront Insurance