Chennai: Investments by Private Equity-Venture Capital (PE-VC) firms fell by $1.2 billion in March 2024 at $1.8 billion (comprising 64 deals), as against $3 billion in the corresponding month last year. The significant drop has bucked the trend of increase in investments by the PE-VC companies in Jan and Feb this year, when compared with the respective months in CY2023, data released by Venture Intelligence has revealed.
Singapore’s sovereign wealth fund GIC investing $500 million for a JV with Sterlite Power Transmission Ltd topped the list of investments, followed by private equity majors Advent International and Multiples investing $233 million in microlender Svatantra Microfin. The number of deals between Jan and March this year was 205, a decrease from 242 in the same period in CY2023. Moreover, the collective investments by the PE-VC firms during the three month period (Jan-March, 2024) was at $6.3 billion, which is a decline by $500 million, over the same period last year at $6.8 billion.
Arun Natarajan, founder, Venture Intelligence said, the number of mega deals ($100 million and above) was just four in March 2024 compared to six such deals in March last year. “While sovereign wealth funds and pension funds from Singapore and Canada continue to dominate the large ticket PE deals, it is good to see that well established large Indian PE firms such as Multiples PE and Kedaara Capital as well as experienced mid-market investors like Lighthouse Funds making newer bets during the month,” Natarajan told TOI.
Singapore’s sovereign wealth fund GIC investing $500 million for a JV with Sterlite Power Transmission Ltd topped the list of investments, followed by private equity majors Advent International and Multiples investing $233 million in microlender Svatantra Microfin. The number of deals between Jan and March this year was 205, a decrease from 242 in the same period in CY2023. Moreover, the collective investments by the PE-VC firms during the three month period (Jan-March, 2024) was at $6.3 billion, which is a decline by $500 million, over the same period last year at $6.8 billion.
Arun Natarajan, founder, Venture Intelligence said, the number of mega deals ($100 million and above) was just four in March 2024 compared to six such deals in March last year. “While sovereign wealth funds and pension funds from Singapore and Canada continue to dominate the large ticket PE deals, it is good to see that well established large Indian PE firms such as Multiples PE and Kedaara Capital as well as experienced mid-market investors like Lighthouse Funds making newer bets during the month,” Natarajan told TOI.
We also published the following articles recently