Global venture capital investment activity plunges YOY in February

Venture capital investments worldwide tumbled 64.7% in February to $17 billion from $48.22 billion a year earlier, according to S&P Global Market Intelligence data.

The number of funding rounds with venture capital participation was down 44% to 1,150 rounds from 2,056 rounds in February 2022. The total amount raised also declined sequentially from $19.46 billion in January via 1,197 rounds.

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Largest funding rounds

Electric mobility product developer Zeekr Intelligent Technology Holding Ltd. raised the largest funding round in February with a transaction value of $750 million. Quzhou State Owned Capital Xin'an Capital Management Co. Ltd. and other investors participated in the round. Zeekr plans to use the proceeds to support technology research and global brand expansion.

PowerField Realisatie & Exploitatie BV, which develops and produces solar energy, secured $545.9 million in a round led by Landesbank Baden-Württemberg. EIG Global Energy Partners also participated in the mature funding round.

Investments by sector

The technology, media and telecommunications industry continued to lead other sectors in venture capital investments by attracting 38.2% of the total funding raised globally during February. It was followed by the healthcare and industrials sectors, which tied at 13.7%, and the financials sector at 11.2%.