Smaller (sub-US$10 million) deals dominated global venture capital (VC) investing in the first quarter, according to U.K.-based research firm GlobalData.
In a new report, the firm said low-value deals accounted for more than three-quarters (75.5%) of global VC activity in the quarter. The share of the market for these smaller transactions also grew throughout the quarter, rising from 74.7% in January to 75.9% in February, and reaching 76% in March, GlobalData reported.
March was the strongest month for VC activity overall, with 1,510 deals announced in the month, up 14.7% from February.
GlobalData also reported that deals valued at more than US$100 million accounted for just 2.2% of the total deal volume in the first quarter.
January was the strongest month for larger deals, with 33 that generated more than a third (36.3%) of total deal value in the month.
And, while there were fewer big deals in February and March, they accounted for an even greater share of deal value — 46.2% in February and 40.5% in March, GlobalData reported.