Global VC funding decrease in both deal value and volume in 2Q2024: S&P Global Market Intelligence

This is in line with slump in funding trend, as Singtel and KKR’s $1.75 bil investment into STT emerged as biggest funding round.

Global venture capital (VC) funding decreased both in deal value and volume in 2Q2024, according to new data from S&P 500 Global Market Intelligence on July 16. This is in line with the ongoing trend of a slump in funding as investors remain cautious amid economic uncertainty. 

The report notes that the biggest funding round in June belonged to Singapore Telecommunications Z74 (Singtel) and KKR & Co’s investment into STT GDC, worth $1.75 billion. 

The global VC deal value amounted to US$65.41 billion ($87.92 billion) from April to June, down 8.3% from US$71.33 billion during the same period in 2023. The number of announced transactions during the quarter fell 14.3% to 3,774 from 4,403 in the year-ago period. In June, deal value declined 24.1% year over year to US$20.94 billion. 

The second-biggest funding round involved a consortium led by Searchlight Capital Partners LP and Ares Management Corp. funds, which agreed to invest £500 million of preferred equity in sustainable solutions provider RSK Group. 

Technology, media and telecom sectors remained the biggest recipient of venture capital in June, attracting almost half of the global total, the report finds. Healthcare and industrials followed, receiving 17.1% and 16.3% of the total, respectively.