Private Equity-Venture Capital (PE-VC) firms injected over $6.2 billion into Indian companies across 205 deals during the first quarter of 2024, according to data from Venture Intelligence.
This figure marks an 8 percent decrease compared to the $6.7 billion invested in 242 deals during the same period in 2023. Additionally, it represents a 6 percent decline from the previous quarter, which saw investments totaling $6.6 billion across 200 deals.
Deal volumes in Q1’24 also experienced a downturn, declining by 15 percent compared to Q1’23 and dropping by 2 percent compared to the immediate previous quarter.
Among the notable trends observed in Q1’24, there were 8 mega deals (involving rounds of $100 million or more), amounting to $3.5 billion. This contrasts with 17 such investments worth $3.6 billion in Q1’23 and 15 deals totaling $4.1 billion in the immediate previous quarter.
The largest investment in Q1’24 was the acquisition of the Indian business of telecom infrastructure provider American Tower Corporation (ATC) by Brookfield for $2 billion.
Other significant investments during the period included GIC’s $500 million infusion into power transmission firm Sterlite Power Transmission and Multiples PE & Advent International’s $233 million investment in Svatantra Microfin. Additionally, NIIF acquired a majority stake in wireless communications company iBus for $200 million.
