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Mapped: Venture Capital Deal Value by Region (1997 vs. 2023)
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This chart tracks how the share of total venture capital deal value changed around the world between 1997 and 2023.
Data is sourced from the 2024 Global Innovation Index, produced by the World Intellectual Property Office.
Asia’s Become a Global Hotspot for Investment
In 20 years, Asia-Pacific’s share of global venture capital investment has jumped from 3% to 28%, handily overtaking Europe in the process.
| Region | Share of 1997 VC Deal Value |
Share of 2023 VC Deal Value |
|---|---|---|
| U.S. and Canada | 86% | 51% |
| Europe | 10% | 19% |
| Asia-Pacific | 3% | 28% |
| Latin America | 1% | 1% |
| Africa | 0% | 1% |
A big reason for Asia’s growing share is China. It became the world’s manufacturer in the 2000s, eclipsed Japan as the second-largest economy in 2010, and has in recent years, seen a growing tech sector emerge.
Mirroring the astonishing economic rise, VC-funding grew from $125 million in 2000 to $13 billion in 2010. As of 2023, deals dropped back down to $7 billion, as the Chinese economy grappled with a post-pandemic slowdown.
Meanwhile, India has seen rapid economic growth as well, moving from 13th in the world in 2000 to fifth-largest in 2023. Banking and healthcare were earlier draws for venture capital inflows, but in recent years, venture money is now chasing startups in consumer tech, fintech, and software-as-a-service (Saas).
Zooming out from Asia, Latin America’s share of VC deal value has remained essentially unchanged in the same time period. The region’s economic growth has not kept up with Asia’s—which has embraced regional trade and emerging technologies.
Political instability and sovereign debt crises in some of the larger South American economies have also left venture capitalists gun-shy of pursuing investments.
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