APAC venture financing deals reach US$19.5B in Q2 202

Technology industry venture financing deals have reached US$19.5 billion in Asia Pacific during the second quarter of 2021, according to analyst firm GlobalData. 

The value marked an increase of 24 per cent over the previous quarter and a rise of 41.7 per cent when compared with the last four-quarter average of US$13.77 billion. 

In terms of deal activity, APAC recorded 1,113 deals during Q2 2021, marking an increase of 8.3 per cent over the previous quarter and a rise of 10.66 per cent, with Flipkart Internet accounting for the most financing at US$3.6 billion. 

China was the top country in APAC venture financing deal value across technology industry. 

Alibaba Cloud recently pledged US$1 billion in funding over three years to help boost tech and start-up talent across Asia Pacific (APAC), after having opened a data centre in the Philippines. 

In 2019, Australia hit a record $1.2 billion (US$899 million) of VC funding with US$147 million of start-up investment pumped into the market with software firm Deputy scoring the most with US$81 million in Series B funding.