Venture capital investments worldwide plunged 61.2% to $15.74 billion in April from $40.60 billion a year earlier, according to S&P Global Market Intelligence data.

The number of funding rounds was down 47.8% to 959 from 1,836 in April 2022.

April totals also dropped from the previous month, when $29.15 billion was raised across 1,085 funding rounds.

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Largest funding rounds

South Korean systems software company GB Soft Co. Ltd. closed the largest funding round in April with a transaction value of $579.9 million. Comes Investment Co. Ltd., HB Investment Inc., KB Investment Co. Ltd. and Solidus Investment Co. Ltd. participated in the series A round.

For the next-largest transaction, upstream oil and gas operator FireBird Energy II LLC and education services company Cengage Group tied at $500 million. Apollo Global Management Inc. is participating in Cengage's round of funding that is expected to close by June 30. Funds managed by Quantum Energy Partners LLC, founders and employees of FireBird are investing in the company's venture round.

Investments by sector

The technology, media and telecommunications industry dominated global venture capital investments in April by attracting 37.6% of the total funding. It was followed by the healthcare sector, which secured 23.4%, while industrials accounted for 11.5%.

April totals for both value and volume of funding rounds were the lowest in any month since January 2020.