9 Aug, 2023
July venture capital investment marks lowest monthly total in 3 years
By Muhammad Hammad Asif and Annie Sabater
The value of venture capital investments worldwide dropped 46.5% year over year to $15.47 billion in July while the number of funding rounds declined 37% to 1,017, according to S&P Global Market Intelligence data.
The investment value and volume in July were the lowest monthly totals since at least January 2020, the data shows.
– Download a spreadsheet with data featured in the story.
– Click here to read about private equity investments in the Asia-Pacific asset management sector.
– Explore more private equity coverage.
Largest funding rounds
Six of the 10 largest funding rounds were raised by companies in Asia-Pacific, including the top three.
Xiamen Hithium Energy Storage Technology Co. Ltd., which manufactures lithium-ion battery core materials, raised $621 million in series C financing, the largest funding round globally in July.
Investors in the round included ABC International (China) Investment Co. Ltd., Beijing Zhongchuang Hongxing Investment Management Co. Ltd., CDH Investment Management Co. Ltd., China Life Private Equity Investment Co. Ltd., China Venture Capital Co. Ltd., China-US Green Fund Management Co. Ltd., CICC Capital Management Co. Ltd., Gold Stone Investment Co. Ltd., Hainan Fenghe Private Fund Management Co. Ltd., Hefei Industrial Investment Capital Venture Capital Management Co. Ltd., Jingwei Venture Capital (Beijing) Investment Management Consulting Co. Ltd., SDIC Innovation Investment Management Co. Ltd. and Shanghai CS Capital Co. Ltd.
Farizon Auto, which makes electric light commercial vehicles, and automobile manufacturer Zhejiang Geely Holding Group Co. Ltd.'s Zhejiang Geely New Energy Commercial Vehicle Group Co. Ltd. raised $600 million in their respective funding rounds, marking the second-largest transactions for July.
Investments by sector
The technology, media and telecommunications industry dominated global venture capital investments in July, attracting 36.7% of the total. It was followed by the industrial sector, which accounted for 15.5% of the total fundraising.
