China’s technology industry saw a drop of 27.27% in overall cross border deal activity during February 2022, when compared with the last 12-month average, led by Shanghai Chengshu Investment Management and TrustBridge Partners’ $200m private equity deal with Beijing Huitong Tianxia Wulian Technology, according to GlobalData’s deals database.

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A total of 24 cross border deals worth $675.1m were announced in February 2022, compared with the 12-month average of 33 deals.

venture financing was the leading category in the month in terms of volume with 21 deals, which accounted for 87.5% of all cross border deals.

In second place was M&A with two cross border deals, followed by private equity with one transactions, respectively accounting for 8.3% and 4.2% of overall deal activity in the China’s technology industry during the month.

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In terms of value of cross border deals, venture financing was the leading deal category in China’s technology industry with total deals worth $475.08m, followed by private equity deals totalled $200m.

China technology industry cross border deals in February 2022: Top deals

The top five technology industry cross border deals accounted for 87.4% of the overall value during February 2022.

The combined value of the top five technology cross border deals stood at $590m, against the overall value of $675.1m recorded for the month.

The top five technology industry cross border deals of February 2022 tracked by GlobalData were:

1) Shanghai Chengshu Investment Management and TrustBridge Partners $200m private equity deal with Beijing Huitong Tianxia Wulian Technology

2) The $140m venture financing of Beijing Debeijin Service Technology by BitRock Capital,D1 Capital Partners,DST Global,Eight Roads Capital Advisors (Hong Kong),Emergence Capital,Glade Brook Capital Partners,Hillhouse Ventures,Prosperity 7 Ventures,Ribbit Capital and Whalerock Capital

3) Hillhouse Ventures,Mirae Asset Global Investments,SoftBank Vision Fund 2 and Yun Qi Capital $100m venture financing deal with Beijing Wisdom Tooth Technology

4) The $100m venture financing of Jiangxi Yunzhangfang Enterprise Management by Apax Digital Fund

5) BAI Capital,GGV Capital,Jiyuan Capital,Sequoia Capital China and Source Code Capital $50m venture financing deal with Taichi Graphics Technology