Total power industry venture financing deals worth $1.5bn were announced in Asia-Pacific in August 2022, led by $1.17bn venture financing of Sunwoda Electric Vehicle Battery, according to GlobalData’s deals database.

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The value marked an increase of 355.3% over the previous month of $333.83m and a rise of 144.5% when compared with the last 12-month average of $621.71m.

Asia-Pacific held a 68.78% share of the global power industry venture financing deal value that totalled $2.21bn in August 2022. With a 65.16% share and deals worth $1.44bn, China was the top country in Asia-Pacific’s venture financing deal value across power industry.

In terms of venture financing deal activity, Asia-Pacific recorded 24 deals during August 2022, marking an increase of 20.00% over the previous month and a rise of 50.00% over the 12-month average. China recorded 15 deals during the month.

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Asia-Pacific power industry venture financing deals in August 2022: Top deals

The top five power industry venture financing deals accounted for 87.4% of the overall value during August 2022.

The combined value of the top five power venture financing deals stood at $1.33bn, against the overall value of $1.5bn recorded for the month.

The top five power industry venture financing deals of August 2022 tracked by GlobalData were:

1) Broad Vision Funds, National Green Development Fund, Shenzhen Capital Group and Source Code Capital’s $1.17bn venture financing deal with Sunwoda Electric Vehicle Battery

2) The $67.25m venture financing of Beijing Jingshenxiang Technology by BOCOM International, CCB Trust, Empowtech Capital, Huagai Capital, Incubator Group, Lenovo Capital, Qiming Venture Partners and Vlight Capital

3) GF Capital, Hanhui Capital, Hengxin Huaye and Legend Capital’s $44.48m venture financing deal with Shenzhen Hengchuang Ruineng Environmental Protection Technology

4) The $29.82m venture financing of Hysata by BlueScopeX, Clean Energy Finance, Host-Plus, IP GROUP AUSTRALIA, Kiko Ventures and Vestas Ventures

5) Aqua-Spark, BASF Venture Capital and Tata Capital Innovations Fund’s $18.5m venture financing deal with Sea6 EnergyLtd.