The aggregate value of venture capital deals globally in 2015 increased for the third consecutive year to $136 billion across 9,202 financings, according to Preqin, the alternatives data provider.
This represented a 6% drop from the 9,811 deals concluded in 2014, but a 45% increase on the $94 billion aggregate value recorded that year.
The average deal size rose to $18 million in 2015 from $12 million in 2014.
According to Preqin, most venture capital deals occur earlier in a company’s lifecycle, with 33% completed at the angel or seed stage and 26% at Series A.
Deal activity was particularly robust in Asia last year, with China recording 1,605 deals and India 927, nearly twice as many as in 2014.
In contrast, 1,373 deals were completed in Europe, down from a high of 2,002 in 2013 and the lowest number recorded there since 2010.
In North America, the number of deals in 2015 fell by 23% from the previous year to 4,307. California led U.S. venture capital deals, grabbing 41% of them.
Preqin noted that new data would likely raise these totals, but that they would still lag levels seen in previous years.
The average size of financing rounds rose substantially over 2015. Series A financings increased by 34% from $7.9 million in 2014 to $10.6 million in 2015, while the average venture debt financing increased from $9.6 million to $32.7 million.
Investments made in Series D and beyond now average $94 million.