Press Release:
Private Equity – Venture Capital (PE-VC) firms invested over $5.6 Billion
(across 184 deals) in Indian companies during the first three months of
2023, shows data from Venture Intelligence, a
research service focused on private company financials, transactions, and
their valuations. (Note: These figures include Venture Capital type
investments, but exclude PE investments in Real Estate).
(across 184 deals) in Indian companies during the first three months of
2023, shows data from Venture Intelligence, a
research service focused on private company financials, transactions, and
their valuations. (Note: These figures include Venture Capital type
investments, but exclude PE investments in Real Estate).
The investment amount represents a 66% fall over the $16.4 Billion
(across 422 deals) invested in the same period during 2022 and also down by 41% when compared to the immediate previous quarter (which witnessed
$9.6 Billion being invested across 236 deals). Deal volumes in Q1’23 also declined 56% compared to Q1’22 and was down by 22% compared to
the immediate previous quarter.
(across 422 deals) invested in the same period during 2022 and also down by 41% when compared to the immediate previous quarter (which witnessed
$9.6 Billion being invested across 236 deals). Deal volumes in Q1’23 also declined 56% compared to Q1’22 and was down by 22% compared to
the immediate previous quarter.
Q1’23 witnessed 16 mega deals ($100 M+ rounds) worth $3.4 Billion,
compared to 42 such investments (worth $11 Billion) in Q1’22 and 21 such
deals (worth $7 Billion) in the immediate previous quarter.
compared to 42 such investments (worth $11 Billion) in Q1’22 and 21 such
deals (worth $7 Billion) in the immediate previous quarter.
The largest investment in Q1’23 was the $700 million investment in
renewable energy producer Greenko Group by Singapore’s GIC, Abu Dhabi Investment Authority (ADIA) and other investors.
The other top investments included ADIA’s $500
million investment in omnichannel eyewear retailer Lenskart and
General Atlantic’s $350 million investment in PhonePe (as part of the fintech unicorn‘s ongoing round). This was followed by Carlyle Group’s acquisition of
skincare and beauty platform VLCC Wellness for $300 million.
renewable energy producer Greenko Group by Singapore’s GIC, Abu Dhabi Investment Authority (ADIA) and other investors.
The other top investments included ADIA’s $500
million investment in omnichannel eyewear retailer Lenskart and
General Atlantic’s $350 million investment in PhonePe (as part of the fintech unicorn‘s ongoing round). This was followed by Carlyle Group’s acquisition of
skincare and beauty platform VLCC Wellness for $300 million.
By Industry
IT & ITeS topped the industry table attracting $2.3 Billion across
117 deals (a 73% fall from the $8.5 Billion across 300 deals in Q1’22).
Deals in the tech industry were led by the mega investments in Lenskart,
Phonepe and insurtech startup InsuranceDekho ($150 million investment
led by Goldman Sachs and TVS Capital Funds).
117 deals (a 73% fall from the $8.5 Billion across 300 deals in Q1’22).
Deals in the tech industry were led by the mega investments in Lenskart,
Phonepe and insurtech startup InsuranceDekho ($150 million investment
led by Goldman Sachs and TVS Capital Funds).
The Energy industry came in next, attracting $1.3 Billion in
Q1’23 led by the $700 million investment in the Greenko Group. This was followed by
CPPIB’s investment in renewable energy firm
Renew Power (totaling $400 million across two tranches), and the solar and agri waste-to-energy converter SAEL’s
$60 million fundraise from Norfund.
Q1’23 led by the $700 million investment in the Greenko Group. This was followed by
CPPIB’s investment in renewable energy firm
Renew Power (totaling $400 million across two tranches), and the solar and agri waste-to-energy converter SAEL’s
$60 million fundraise from Norfund.
The Healthcare & Life Sciences industry attracted about $782 million across 18
deals during Q1’23 – a 27% decrease from the $1.1 Billion invested across 25
deals in Q1’22. Investments in the sector were topped by two buyouts: Carlyle’s of VLCC Wellness followed by TA Associates’ of Synokem Pharmaceuticals.
deals during Q1’23 – a 27% decrease from the $1.1 Billion invested across 25
deals in Q1’22. Investments in the sector were topped by two buyouts: Carlyle’s of VLCC Wellness followed by TA Associates’ of Synokem Pharmaceuticals.
Venture Intelligence is India’s longest-serving provider of data and analysis on Private
Company Financials, Transactions (private equity, venture capital, and
M&A) & their Valuations in India.
Company Financials, Transactions (private equity, venture capital, and
M&A) & their Valuations in India.
(Venture Intelligence Subscribers will be mailed detailed reports of the PE-VC action during Q1
2023 in the next few days.)
2023 in the next few days.)
