Global tourism & leisure sector sees $1bn worth venture financing deals in Q2 2020

By Rahul Vaimal, Associate Editor
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Global Tourism
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Renowned data analytics and consulting company, GlobalData has revealed that the total tourism & leisure industry venture financing deals announced touched $1.09 billion in the second quarter of 2020. 

The figure was a marked improvement of 86.6% over the previous quarter and a decrease of 39.9% when compared with the last four-quarter average of $1.91 billion.

Regional Numbers

Regionally, North America has the most cumulative value of the total deals announced with a total of $666.9 million.

Asia-Pacific emerged as the top region for tourism & leisure industry venture financing deals globally when the volume of deals was considered followed by North America and then Europe.

Country-wise numbers 

While at the country level, the US topped the list in terms of deal value at $596.9 million. The country also topped in terms of venture financing deals activity in Q2 2020 with 19 deals, followed by India with nine and China with eight.

In 2020, as of the end of Q2 2020, tourism & leisure venture financing deals witnessed a year on year decrease of 65.4 percent where only deals worth $1.67 billion were announced globally.

Top five 

The top five tourism & leisure industry venture financing deals accounted for 71.7% of the overall value during Q2 2020. The combined value of these top five deals stood at $779 million against the overall value of $1.09 billion recorded for the month.

The top five tourism & leisure industry deals of Q2 2020 tracked by GlobalData were:

  • Broadscale Group, Ervington Investments- Cyprus, Exor International, 83North Venture Capital, Hearst Ventures, Macquarie Capital (Europe), Mori Trust, Pitango Growth, Planven Investments, RiverPark Ventures and Shell Ventures’ $400 million venture financing of Via Transportation
  • The $170 million venture financing of sonder by Atreides Management, Fidelity Investments, Greenoaks Capital Management, Greylock Partners, iNovia Capital, Lennar, Spark Capital, Tao Capital Partners, Valor Equity Management and Westcap Mgt.
  • Hangzhou Projoy Technology and Ningbo Yincheng Group’s $96.74 million venture financing of Ningbo Xiaolinggou Travel Technology
  • The $70 million venture financing of Hopper by Business Development Bank of Canada, iNovia Capital, Investissement Quebec, Ontario Municipal Employees Retirement System and Westcap Mgt.
  • Jihai Investment and Yiyin Fund’s venture financing of Chiyu Tourism for $42.28 million.