Led by $500m venture financing of Black Sesame Intelligent Technology, total technology industry venture financing deals worth $9.6bn were announced in Asia-Pacific in Q3 2022, according to GlobalData’s deals database.

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The value marked a decrease of 28.7% over the previous quarter and a drop of 52.4% when compared with the last four-quarter average of $20.18bn.

Asia-Pacific held a 25.86% share of the global technology industry venture financing deal value that totalled $37.12bn in Q3 2022. With a 14.30% share and deals worth $5.31bn, China was the top country in Asia-Pacific’s venture financing deal value across technology industry.

In terms of deal activity, Asia-Pacific recorded 1152 deals during Q3 2022, marking a decrease of 9.79% over the previous quarter and a drop of 19.47% over the last four-quarter average. China recorded 455 deals during the month.

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Asia-Pacific technology industry venture financing deals in Q3 2022: Top deals

The top five venture financing deals accounted for 17.3% of the overall value during Q3 2022.

The combined value of the top five technology venture financing deals stood at $1.66bn, against the overall value of $9.6bn recorded for the quarter.

The top five technology deals of Q3 2022 tracked by GlobalData were:

1) Beijing Xinding Rongsheng Capital Management, El Camino Capital, GF Xinde Investment Management, Hanhai, Hina Group Fund, Industrial Bank, Northbeta Yinuo Capital, Summitview Capital and Yangzijiang Financial Holding’s $500m venture financing deal with Black Sesame Intelligent Technology

2) The $343m venture financing of MEGAZONE CLOUD by IMM Private Equity and MBK Partners

3) Ltd., Changjiang Securities, China-Belgium Direct Equity Investment Fund, CHINT Group, Golden Rain Bogor Capital, Green Capital, IDG Capital Investment Consulting (Beijing) Co., Jiawo Capital, Oceanpine Capital, Yunhui Capital and Zhemin Investment’s $307.65m venture financing deal with Qinghai Lihao Semiconductor Materials

4) The $295.48m venture financing of Guangdong Weirong Electronic Technology by CITIC Securities, GF Securities, SDIC Ventures Capital and Yueke Finance

5) Artian Investments, Bodhi Tree, ETS Global, Family Office of Bharti Airtel, India Infoline Finance, International Finance, Kaizen Management Advisors Pvt., Narotam Sekhsaria Family Office and Temasek Investments’s $210m venture financing deal with UpGrad Education