Private Equity-Venture Capital (PE-VC) firms invested over $6.2 billion across 205 deals in Indian companies during the first three months of 2024, as per Venture Intelligence data.The investment amount represents a 8 per cent fall over the $6.7 billion across 242 deals invested in the same period during 2023 and also down by 6 per cent when compared to the immediate previous quarter which witnessed $6.6 billion being invested across 200 deals.
Deal volumes in Q1’24 also declined 15 per cent compared to Q1’23 and were down by 2 per cent compared to the immediate previous quarter.
Q1’24 witnessed 8 mega deals ($100M plus rounds) worth $3.5 billion, compared to 17 such investments (worth $3.6 billion) in Q1’23 and 15 such deals (worth $4.1 billion) in the immediate previous quarter.
The largest investment in Q1’24 was the $2 billion acquisition of the Indian business of telecom Infrastructure provider American Tower Corporation (ATC) by Brookfield.
Other top investments during the period included GIC’s $500 million investment in power transmission firm Sterlite Power Transmission and Multiples PE & Advent International’s $233 million investment in Svatantra Microfin. This was followed by NIIF’s majority stake acquisition in wireless communications company iBus for $200 million.