BackPrivate equity investments in January-February touch $2.3 billion: Thornton
Investments in start-ups dominated the February deal tally, as this sector contributed 47% of total investment volumes garnering $278 million, says a report
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New Delhi:Private equity (PE) investments witnessed a two-fold jump in February with transactions worth $1.3 billion taking the deal tally for the first two months of this year to $2.3 billion, says a report.
According to assurance, tax and advisory firm Grant Thornton, in February, there were 62 PE deals worth $1,330 million, while in the corresponding period last year there were 45 such transactions worth $588 million.
Investments in start-ups dominated the February deal tally, as this sector contributed 47% of total investment volumes garnering $278 million.
Besides, fintech and discovery platforms attracted significant attention from investors with 5 deals each followed by health tech space with four investments. The top deal in February was Bigbasket raising $300 million in its Series E round.
Another major funding in food delivery space was Swiggy’s $100 million fund raise. India Grid Trust’s (IndiGrid) acquisition of three transmission assets from its sponsor Sterlite Power Grid Ventures for a consideration of Rs1,410 crore was the other major deal of the month.
Meanwhile, PE investments in January-February witnessed a sturdy 67% year-on-year growth to $2,313 million on account of increased big ticket investments rounds.
“The deal activity is expected to continue on the growth trend driven by subsequent round of investments in start-ups and e-commerce companies," said Pankaj Chopda, director at Grant Thornton India LLP.
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