The value of global private equity and venture capital funding rounds fell to $22.78 billion in May, representing a year-over-year decline of approximately 4%.
The number of funding rounds dropped 24% to 1,137 during the same period, according to data from S&P Global Market Intelligence.
On a monthly basis, the value of private equity and venture capital-backed funding rounds increased 30% from $17.48 billion, while the number of transactions fell 18.7% from 1,398.
– Download a spreadsheet with data featured in this story.
– Read about venture capital activity in April.
– Explore more private equity coverage.
Investments by sector
The technology, media and telecommunications industry dominated global venture capital investments in May, attracting 55% of the total value. It was followed by the healthcare sector, which accounted for 13.9% of the total.
In the technology, media, and telecommunications sector, application software businesses led with 214 funding rounds, followed by systems software companies with 46 rounds.
Overall, the total number of deals in the sector dropped to 441 from 718 rounds recorded the previous year.
Largest transactions
Companies in the US and Canada across different sectors secured seven of the 10 largest funding rounds in May.
In the largest deal, AI company X.AI Corp. raised $6 billion from investors including Kingdom Holding Co., Valor Management LLC, Fidelity Management & Research Co. LLC, Sequoia Capital Operations LLC, Vy Capital, Andreessen Horowitz LLC and ARK Investment Management LLC.
The second-largest deal was the $1 billion funding round for lending solutions provider Fintern Ltd., with GSR Ventures Advisors LLC as the lead investor.
