We look at global investment trends and activity over the last 6 years by CVC funds that fall into the following 4 categories of corporates: banking, insurance, payments, and capital markets.
- Financial services CVC groups have invested in a record 329 deals worth $8B in 2019 YTD. Q3’19 saw the highest amount of deal activity by financial services CVC groups on record.
- Banks are rapidly accelerating their CVC activity, with annual deal activity up over 8x between 2014 and 2018.
- North American share of financial services CVC deals has fallen from 57% in 2014 to 40% in 2019 YTD. Meanwhile, fin services CVCs are increasingly active in Europe, where deal share has grown from 7% to 25% over the same period.
- From 2014 to 2019, 25 CVCs have backed at least 1 unicorn, with Goldman Sachs investing in 5 of these $1B+ startups.