State of CVC Q1’24 Report

State of CVC Global | Q1 2024 Global data and analysis onCVC-backed dealsand funding toprivate market companies Makesmartertech decisions. Our platform will help youdiscover, understand, andmanageyour response to emerging tech. Make confidenttech decisions that drive growth, improve operations, andbeat the competition with CB Insights. ▮▮▮▮IIIITry our platform–free!Sign up for a free trial TLDRState ofCVC Your rundown onCVCin Q1’24 $15B $318M 33 66% 165 Mega-rounddeals. Of deals to early-stage companies. CVC-backedfunding in Q1’24. Dealsto fintechcompanies. CVC-backedfunding to China’sstartups. CVCs participated in 33$100M+ mega-roundsinQ1’24, tied for the highesttotal since Q3’22. Global CVC-backedfunding rebounded 26%quarter-over-quarter (QoQ)to reach $15B in Q1’24.Nearly half ($7B) of thisfunding came from$100M+ mega-rounds. Early-stage companieshave captured 66%of CVCdeals in 2024 YTD, pacingat the highest share inover a decade. CVC deals to fintechcompanies increased 41%QoQ to 165. This was thehighest level since Q4’22. CVC-backed fundinginChina fellto $0.3B, a 40%QoQ decrease.Dealvolume also fell 14% QoQto 78, its lowest level sinceQ1’20. The top 2 mega-roundswent to Wonder ($700M,with backing from AmExVentures and GV) andFigure ($675M, withbacking from the venturearms of Intel, Microsoft,OpenAI, Nvidia, andSamsung). Blockchain investment firmOKX Ventures was themostactive CVC acrosssectors, backing 27 totalcompanies. The increase is drivenlargely by Europe and Asia,which have seen 73% and66%, respectively,ofCVCdealsthis year go to early-stagecompanies. Meanwhile, global dealvolume was roughly flat,ticking up1% QoQ to 851. SungrowNew Energy, adeveloper of renewableenergy hardware, raisedthe largest round for acompany based in China at$48M, withbacking fromCVCZhonganCapital. Coinbase Ventures alsobacked 11 companies,signaling a potentialrebound incrypto-focusedCVC activity. See the data→ Seethe data→ Seethe data→ See the data→ See the data→ ContentsState of CVC Japan92Europe96United Kingdom101Germany105France109Israel113LatAm117 Global Trends5Investment Trends6 Sector Spotlights28 Fintech29Retail Tech37Digital Health45 Geographic Trends 53 US54Silicon Valley59New York63Los Angeles67Boston71Asia75China80India84Singapore88 Global Trends Investment Trends State of CVC|Global Trends|Investment Trends Annual equity funding & dealswith CVC participation State of CVC|Global Trends|Investment Trends Quarterly equity funding & dealswith CVC participation State of CVC|Global Trends|Investment Trends Funding & deals by global region in Q1’24 State of CVC|Global Trends|Investment Trends Percent of quarterly deals by global region State of CVC|Global Trends|Investment Trends Annual average & median deal size State of CVC|Global Trends|Investment Trends Annual median deal size by global region State of CVC|Global Trends|Investment Trends Quarterly funding & deals from mega-rounds (deals worth $100m+) State of CVC|Global Trends|Investment Trends State of CVC|Global Trends|Investment Trends Quarterly mega-round deals by global region State of CVC|Global Trends|Investment Trends Quarterly mega-rounds as percent of funding Global: Top equity deals in Q1’24 State of CVC|Global Trends|Investment Trends Annual percent of deals by deal stage State of CVC|Global Trends|Investment Trends Regional deal share by deal stage in Q1’24 State of CVC|Global Trends|Investment Trends Annual median funding by deal stage State of CVC|Global Trends|Investment Trends Global: Top Series A deals in Q1’24 Global: Top Series B deals in Q1’24 Global: Top Series C deals in Q1’24 State of CVC|Global Trends|Investment Trends Global: Top CVCs by company count in Q1’24 Sector Spotlights Fintech State of CVC|Sector Spotlights|Fintech Quarterly equity funding & deals State of CVC|Sector Spotlights|Fintech Quarterly deals by global region State of CVC|Sector Spotlights|Fintech Annual average & median deal size State of CVC|Sector Spotlights|Fintech Annual percent of deals by deal stage Fintech: Top equity deals in Q1’24 Retail Tech State of CVC|Sector Spotlights|Retail Tech Quarterly equity funding & deals State of CVC|Sector Spotlights|Retail Tech Quarterly deals by global region State of CVC|Sector Spotlights|Retail Tech Annual average & median deal size State of CVC|Sector Spotlights|Retail Tech Annual percent of deals by deal stage Retail Tech: Top equity deals in Q1’24 State of CVC|Sector Spotlights|Retail Tech Digital Health State of CVC|Sector Spotlights|Digital Health Quarterly equity funding & deals State of CVC|Sector Spotlights|Digital Health Funding & deals by global region in Q1’24 State of CVC|Sector Spotlights|Digital Health Quarterly deals by global region State of CVC|Sector Spotlights|Digital Health Annual average & median deal size State of CVC|Sector Spotlights|Digital Health Annual percent of deals by deal stage State of CVC