Global venture capital deal value rose to $22.11 billion in January, up 3.8% year on year, according to S&P Global Market Intelligence data.

The number of funding rounds declined 23.7% to 1,161 during the same period.

Venture transaction value has been rising since November 2023, suggesting momentum for larger funding rounds in 2024 after coming off a down year.

Funding rounds in 2023 totaled $262.07 billion, down 39.7% from the prior year. The number of deals in 2023 fell 31% to 16,084.

Investments by sector

The technology, media and telecommunications industry dominated global venture capital investments in January, attracting 53.5% of the total. It was followed by the healthcare sector, which accounted for 14.5% of the total.

– Download a spreadsheet with data featured in the story. – Read about predictions for private equity in 2024. – Explore more private equity coverage.

Largest funding rounds

Companies in the US and Canada across different sectors secured five of the 10 largest funding rounds in the first month of 2024.

The largest deal of the month was data center solutions provider Vantage Data Centers Management Company LLC, which is set to receive $6.4 billion in a funding round co-led by existing investors including Silver Lake Technology Management LLC and DigitalBridge Group Inc. The transaction is expected to close in the first quarter.

Second was industrial process equipment and automation systems provider CPM Holdings Inc., which raised $400 million in strategic equity investment from Koch Equity Development LLC.