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Laxman Pai, Opalesque Asia:

Global venture capital deal-making has stumbled as the world comes to terms with the COVID-19 pandemic, said a study.

Nearly 1,000 fewer deals were completed globally in Q1 2020 compared with Q4 2019, while aggregate deal value fell by 18% in comparison, Preqin said in its quarterly update of venture capital.

The quarterly deal flow had remained steady throughout 2019, following a drop from 2018 levels, but the figures for the first quarter of 2020 represent a sharp decline.

According to Preqin, the venture capital market in Greater China was hit the hardest.

As the original epicenter of the COVID-19 outbreak, business activity was significantly disrupted at the start of the year.

The 495 deals completed for Greater China-based venture capital companies represent a drop of 39% from the previous quarter. That said, deal activity declined in all major venture capital markets across the globe.

Markets in North America (-27%) and Europe (-12%) recorded notable declines from the previous quarter in the number of completed deals.

Aggregate exit value remained steady in Q1. The $35bn of exits globally exceeds the previous two quarters, despite the number of exits falling by 8% in comparison with Q4 2019.

Two large exits of San Francisco-based fintech companies boosted total Q1 exit value: Intuit Inc.'s $7.1bn purchase of Credit Karma, Inc. - a financial platform that enables users to receive credit scores and reports - and ......................

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