A total of 2,082 venture capital (VC) deals with disclosed funding rounds were announced in the Asia-Pacific (APAC) region during the first half (H1) of 2024. This was a year-on-year (YoY) decline of 16.5% over the 2,492 VC deals with disclosed funding rounds announced during the same period in the previous year. Meanwhile, in line with the global trend, early-stage funding rounds* continued to dominate the APAC VC funding landscape and accounted for a 74.3% share of the total number of VC deals with disclosed funding rounds announced in the region during H1 2024, according to GlobalData, a leading data and analytics company.
An analysis of GlobalData’s Deals Database revealed that during H1 2024, the APAC region saw the announcement of 1,546 early-stage funding rounds that included 576 Seed rounds and 970 Series A funding round deals. Meanwhile, the total volume of these early-stage funding round deals declined by 18.9% YoY compared to the announcement of 1,906 early-stage funding round deals in H1 2023.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The decline experienced in the APAC region and early-stage funding rounds dominating the VC funding landscape is in line with the global trend. Macroeconomic challenges and geopolitical tensions seem to have had an impact on investor confidence, which resulted in the announcement of a lesser number of VC deals during H1 2024. While most of the funding rounds announced in the region registered a decline in volume, Series E emerged as a notable exception to showcase improvement.”
Other funding rounds including growth, expansion, and late-stage funding rounds** collectively accounted for a 25.7% share of the total number of VC deals with disclosed funding rounds announced in the APAC region during H1 2024.
The volume of these growth, expansion, and late-stage funding rounds announced in the APAC region registered a YoY decline of 8.5% from 586 deals in H1 2023 to 536 deals in H1 2024.
