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  1. Deals Analysis
May 6, 2021

Power industry venture financing deals total $822.84m in Asia-Pacific in Q1 2021

By Baghmar P

Led by $45m venture financing of GridWiz, total power industry venture financing deals worth $822.84m were announced in Asia-Pacific in Q1 2021, according to GlobalData’s deals database.

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The value marked an increase of 643.8% over the previous quarter and a rise of 869.5% when compared with the last four-quarter average of $84.87m.

Asia-Pacific held a 28.47% share of the global power industry venture financing deal value that totalled $2.89bn in Q1 2021. With a 26.32% share and deals worth $760.62m, China was the top country in Asia-Pacific’s venture financing deal value across power industry.

In terms of deal activity, Asia-Pacific recorded 21 deals during Q1 2021, marking an increase of 40.00% over the previous quarter and a rise of 100.00% over the last four-quarter average. China recorded nine deals during the month.

Asia-Pacific power industry venture financing deals in Q1 2021: Top deals

The top five venture financing deals accounted for 11.3% of the overall value during Q1 2021.

The combined value of the top five power venture financing deals stood at $92.54m, against the overall value of $822.84m recorded for the quarter.

The top five power deals of Q1 2021 tracked by GlobalData were:

1) Intervest New Growth Fund, Kinggo spring, Medici Investment, Meritz Securities, NH Investment & Securities, SK Gas and Soo Investment Capital’s $45m venture financing of GridWiz

2) The $38.63m venture financing of Gaogong Hydrogen Power by Agricultural Bank of China, Dongfeng Asset Management, Three Gorges Capital Holding and Zhuhai Pusheng Capital

3) ADB Ventures, cKinetics Accelerator, Max I., Saket Burman and Sangam Ventures’ $4.1m venture financing of Smart Joules

4) The $3.45m venture financing of Green Li-ion by Entrepreneur First, LiNiCo, SOSV Investments and TES (Singapore)

5) Blue Ashva Sampada Fund’s venture financing of Devic EarthLtd. for $1.37m.

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Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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