The $706m venture financing of Voyah Automobile Sales and Service was the power industry’s top venture financing deal as total deals worth $1.6bn were announced globally in November 2022, according to GlobalData’s deals database.
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The value marked an increase of 9% over the previous month of $1.45bn and a drop of 15.5% when compared with the last 12-month average, which stood at $1.87bn.
Comparing venture financing deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals in the period worth $1.01bn. At the country level, the China topped the list in terms of deal value at $999.17m.
In terms of volumes, North America emerged as the top region for power industry venture financing deals globally, followed by Asia-Pacific and then Europe.
The top country in terms of venture financing deals activity in November 2022 was the US with 18 deals, followed by the China with 13 and the UK with five.
In 2022, as of November, power venture financing deals worth $17.98bn were announced globally, marking an increase of 32.6% year on year.
power industry venture financing deals in November 2022: Top deals
The top five power industry venture financing deals accounted for 84.6% of the overall value during November 2022.
The combined value of the top five power venture financing deals stood at $1.34bn, against the overall value of $1.6bn recorded for the month.
The top five power industry venture financing deals of November 2022 tracked by GlobalData were:
1) BOC Financial Asset Investment, Ganfeng Lithium Group, ICBC Financial Assets Investment and Mixed Ownership Reform Fund’s $706m venture financing deal with Voyah Automobile Sales and Service
2) The $280.89m venture financing of Newave Energia by Gerdau Ventures
3) China Chengtong Mixed Owned Reform Fund, China Merchants Capital, China Securities Investment, Deyi Capital, Fangyuan Capital, Hidden Mountain Capital, Huzhou Economic Development, SDIC Chuangyi Industrial Fund Management, Xuan Capital, Yun Capital and Zibo Jingneng’s $205.26m venture financing deal with Beijing Weilan New Energy Technology
4) The $77.38m venture financing of Weishi Energy Technology by China National Building Material New Materials Fund, Liben Energy and SDIC
5) Breakthrough Energy Ventures, Building Ventures, Collaborative Fund, GV Management Co, Len X, New Enterprise Associates and NGP ETP’s $70m venture financing deal with Dandelion Energy