Food industry venture financing deals total $587.57m in Asia-Pacific in March 2021

Total food industry venture financing deals worth $587.57m were announced in Asia-Pacific in March 2021, led by $300m venture financing of Guoquan Shihui, according to GlobalData’s deals database.

The value marked an increase of 1282.5% over the previous month of $42.5m and a rise of 492.3% when compared with the last 12-month average of $99.2m.

Asia-Pacific held a 54.91% share of the global food industry venture financing deal value that totalled $1.07bn in March 2021. With a 52.62% share and deals worth $563.04m, China was the top country in Asia-Pacific’s venture financing deal value across food industry.

In terms of venture financing deal activity, Asia-Pacific recorded 20 deals during March 2021, marking an increase of 81.82% over the previous month and a rise of 66.67% over the 12-month average. China recorded 13 deals during the month.

Asia-Pacific food industry venture financing deals in March 2021: Top deals

The top five food industry venture financing deals accounted for 97.2% of the overall value during March 2021.

The combined value of the top five food venture financing deals stood at $570.97m, against the overall value of $587.57m recorded for the month.

The top five food industry venture financing deals of March 2021 tracked by GlobalData were:

1) CMB International Securities and Tiantu Investments’ $300m venture financing of Guoquan Shihui

2) The $122.4m venture financing of Jane Eyre by Black Ant Capital, CITIC Agricultural Fund, Dehong Capital, Jingwei China, Maixing Investment, Purui Investment Fund, Sequoia China Fund and Yunfeng Fund L.P

3) BA Capital Partners, CITIC Agriculture Fund, DCP Capital, Maison Capital Group, Matrix Partners China, Proterra Investment Partners, Sequoia Capital China Fund and Yunfeng Capital’s $122.27m venture financing of Simple Love

4) The $15.3m venture financing of SHangzhou Hengmei Food Technology by Chengdu Boyuan Investment Management and Fortune Caizhi

5) CSIRO Financial Services and Horizon Ventures’ venture financing of Nourish Ingredients for $11m.