Total financial services industry venture financing deals worth $501.1m were announced in North America in April 2022, led by $200m venture financing of Newfront Insurance, according to GlobalData’s deals database.

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The value marked a decrease of 73.9% over the previous month of $1.92bn and a drop of 72.8% when compared with the last 12-month average of $1.84bn.

North America held a 29.65% share of the global financial services industry venture financing deal value that totalled $1.69bn in April 2022. With a 29.37% share and deals worth $496.33m, the US was the top country in North America’s venture financing deal value across financial services industry.

In terms of venture financing deal activity, North America recorded 36 deals during April 2022, marking a decrease of 21.74% over the previous month and a drop of 33.33% over the 12-month average. The US recorded 35 deals during the month.

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North America financial services industry venture financing deals in April 2022: Top deals

The top five financial services industry venture financing deals accounted for 66.5% of the overall value during April 2022.

The combined value of the top five financial services venture financing deals stood at $333m, against the overall value of $501.1m recorded for the month.

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

1) 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

2) The $53m venture financing of Ellevest by Allianz Life Insuranceof North America,AME Cloud Ventures,Astia Fund,BMO Family Office,Cleo Capital,Contour Venture Partners,Elaine Wynn,Envestnet,Gaingels Syndicate,Halogen Ventures,Khosla,Morningstar,New York Ventures Fund,PayPal Ventures,Pivotal Ventures,Rethink Impact Management,Salesforce Ventures,Stardust Equity and The Venture Collective

3) byFounders,Creandum,DG Ventures,Kinnevik and Mundi Ventures $35m venture financing deal with Safety Nest

4) The $24m venture financing of Sunday by Coatue Management and New Wave Capital

5) Altai Ventures,Asymmetry Ventures,Brewer Lane Ventures,First Round Capital,FirstMark Capital,Foundation Capital,Guardian Life Group,New York Life Ventures,Reliance Standard Life Insurance and Sedgwick $21m venture financing deal with DeepFraud Technologies