The $400m venture financing of Velocity Global was the Technology industry’s top cloud venture financing deal as total deals worth $5bn were announced globally in May 2022, according to GlobalData’s deals database.

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The value marked an increase of 13.2% over the previous month of $4.4bn and a drop of 10.6% when compared with the last 12-month average, which stood at $5.57bn.

Comparing cloud venture financing deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $3.16bn. At the country level, the US topped the list in terms of deal value at $2.99bn.

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

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The top country in terms of cloud venture financing deals activity in May 2022 was the US with 74 deals, followed by the China with 18 and the UK with 16.

In 2022, as of May, Technology cloud venture financing deals worth $23.06bn were announced globally, marking a decrease of 18.4% year on year.

Technology industry cloud venture financing deals in May 2022: Top deals

The top five Technology industry cloud venture financing deals accounted for 27.5% of the overall value during May 2022.

The combined value of the top five Technology cloud venture financing deals stood at $1.37bn, against the overall value of $5bn recorded for the month.

The top five Technology industry cloud venture financing deals of May 2022 tracked by GlobalData were:

1) Eldridge and Norwest Venture Partners $400m venture financing deal with Velocity Global

2) The $300m venture financing of SpotOn by Andreessen Horowitz,Dragoneer Investment Group,DST Global,Franklin Templeton Investments,G Squared and Mubadala Investment

3) Bedrock Capital Partners,Kleiner Perkins,Sequoia Capital Operations and Y Combinator Management $250m venture financing deal with People Center

4) The $210m venture financing of Abnormal Security by Greylock Partners,Insight Venture Management and Menlo Ventures

5) Atomico Ventures,BlackRock,Earlybird Venture Capital GmbHKG,Eurazeo,IVP LuxCo,Salesforce Ventures and World Innovation Lab $210m venture financing deal with Aiven