Quarter shows deal decline

There were 222 investments in corporate venturing-backed companies worth $4bn in the first quarter. This compared with 231 investments in the fourth quarter of 2012 worth $3.6bn, and 249 investments worth $5.2bn in the first quarter of 2012.

There were 22 exits worth $1.4bn, compared with 34 exits worth $6.3bn in the fourth quarter of 2012 and 249 investments worth $5.1bn in the first quarter of 2011.

Asian activity at 28 deals is approaching the 37 deals in Europe, although the US continues to be the main area of activity with 146 deals. There were three deals in each of the Middle East, South America and eastern Europe.

Information technology was the most active sector with 51 deals, followed by consumer with 46. Healthcare and services were next most active, with 35 and 34 deals respectively.

Clean-tech and energy deals are languishing, with only nine deals tracked during the quarter.

Asian activity is particularly strong in the consumer sector, with 10 deals. Europe also had 10 consumer deals. In the media and services sectors Asia is ahead of Europe in terms of activity. North America was the most active location for all activity. Media investments were the most popular at seed stage.

The US was even more dominant in exit activity than in terms of investments, accounting for 82.6% of exits. The most active sector for exits was IT.

The most common type of deal was A round (46). There were also 45 each of B rounds and individual stake purchases.

There were 18 C rounds, 17 D rounds and 7 E rounds and beyond, as well as 14 seed deals.

Consumer and services activity was particularly marked at an early stage, making up many A and B rounds.