Buer Capital, Fuji Capital Pte., INCE Capital, Innovation Workshop and Tiantu Capital’s $15.64m venture financing deal with Letikong was the beverage industry’s biggest cross border deal of Q2 2021 as cross border deals worth $85.5m were announced globally in the quarter, according to GlobalData’s deals database.

The value marked a decrease of 98.1% over the previous quarter and a drop of 97.6% when compared with the last four-quarter average of $3.51bn.

In terms of number of cross border deals, the sector saw a rise of 21.95% with 25 deals in Q2 2021 against the average of 20.50 deals in the last four-quarters.