Led by $55m venture financing of Bridger Photonics, total oil & gas industry venture financing deals worth $256.2m were announced in North America in Q3 2022, according to GlobalData’s deals database.

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The value marked a decrease of 70.7% over the previous quarter and a drop of 64.9% when compared with the last four-quarter average of $729.01m.

North America held an 84.41% share of the global oil & gas industry venture financing deal value that totalled $303.48m in Q3 2022. With a 72.28% share and deals worth $219.35m, the US was the top country in North America’s venture financing deal value across oil & gas industry.

In terms of deal activity, North America recorded 56 deals during Q3 2022, marking an increase of 40.00% over the previous quarter and a rise of 6.67% over the last four-quarter average. The US recorded 50 deals during the month.

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North America oil & gas industry venture financing deals in Q3 2022: Top deals

The top five venture financing deals accounted for 36% of the overall value during Q3 2022.

The combined value of the top five oil & gas venture financing deals stood at $92.22m, against the overall value of $256.2m recorded for the quarter.

The top five oil & gas deals of Q3 2022 tracked by GlobalData were:

1) Beaverhead Partners LLC, Carica Sustainable Investments, Madison Valley Partners and Next Frontier Capital’s $55m venture financing deal with Bridger Photonics

2) The $26m venture financing of Vive Crop Protection by Business Development Bank of Canada, Emmertech, Export Development Canada, The Cibus Fund and Urbana

3) Billy Hagstrom, Invest Nebraska, Matt Vining, Robert Sali and Zero Infinity Partners’s $5m venture financing deal with Bluestem Biosciences

4) The $3.5m venture financing of FlyScan Systems by BDC Capital, Enbridge and Hatch

5) GreenSky Accelerator Fund IV and Henkel Tech Ventures’s $2.72m venture financing deal with Direct-C