Knowledge Partners


 Basiz Fund Service    Economic Laws Practice    Avalon Consulting  

 Spark Capital    Tatva Legal   

August 17, 2017

SoftBank invests in major Indian e-commerce operator Flipkart Group: The Japan Times

An article by The Japan Times quotes Venture Intelligence data on SoftBank investments in India:
According to local research firm Venture Intelligence, which tracks private equity and venture capital investments, SoftBank Group invested around $1.41 billion in India in the first half of this year.
Related:



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.

August 16, 2017

Mint-Venture Intelligence Deal Tracker (August 7)

Venture Intelligence is powering the (Weekly) Deal Tracker on The Mint tracking all Private Equity, Venture Capital, M&A, Real Estate and Strategic investments in India. The Deal Tracker is featured in the Deals Section (Page 3) every Monday.



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.

August 10, 2017

League Table Update - July'2017

 Venture Intelligence League Table

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.

August 09, 2017

VC investments slip to 2014 levels

Venture Capital investments slide to below 30 a month, after two heady years.


July 2017 registered a 12 month low in Venture Capital investments*, registering just 26 deals. Investment value also dipped to US$180 million from $260 M in June'17. (*Seed to Series D round investments of up to $20-M in companies less than 10 years old. The monthly analysis includes investments of over $20-M as well in tech startups that are less than 10 years old.)

Follow-on investments in Growth Stage Consumer Internet & Mobile companies - led by Byju's Classes, FabHotels.com and UrbanClap - helped bump up the number of $10M+ deals during the month.


Top VC Investments


Byju's Classes raised a reported $40 million from China's Tencent at a valuation of $750 million. (Other Indian companies Tencent has invested into include Flipkart, Hike and Practo.)

Oyo Rooms competitor Fabhotels.com raised a $25 million Series B led by Goldman Sachs' venture arm and Accel India. The hotel aggregator space has not seen any other investments in 2017. Treebo Hotels last raised $17 million in July-2016.

Home and local services company Urbanclap raised a $22 million Series C from Vy Capital, SAIF Partners, Bessemer and Accel India.


Angel Investments stabilise at 22


Investments have more than halved from a high of 48 deals in July 2016 to just 22 deals last month.


Top Funded Sectors in July


Fintech - Vayana Network, Billionloans, Trupay, Ziploan

Healthtech - 1MG, Touchkin

Food - Hokey Pokey, MonkeyBox

Prominent Exits


Inventus Capital and IvyCap Ventures scored healthy exits from online advertising firm Sokrati as part of the Pune-based company's sale to Dentsu Aegis Network. Inventus had invested $1 million in Mar-2011 and $3.5 million along with with IvyCap Ventures in Jan-2015. (Dentsu Aegis had also acquired SVG Media in April 2017.)

SAIF Partners and Outbox Ventures exited InstaLively via a acquihire by messenger app maker Hike.


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.

Private Equity “Re-Investments”: 2nd Time Lucky or Unlucky?

How have Private Equity funds fared when they revisit a company they have invested into in the past? An analysis by Venture Intelligence.

One of the best known quotes of legendary investor Warren Buffett is regarding his preferred holding period in outstanding businesses: Forever. Given the requirement of Private Equity (PE) funds to sell off their holdings in companies within 3-5 years (so as to distribute capital back to their investors), such funds are hard put to follow Buffett's maxim. Leading PE investors in India have however found creative ways to re-invest in companies they like and have profited from previously. While some fund managers have revisited companies that they had invested in at their previous firm, other managers have even bought out the holdings of their former employer. The results of revisiting “old flames” however has not been uniform.

The case of multiplex operator PVR  and two firms led by PE industry veteran, Renuka Ramnath is especially interesting. ICICI Venture (I-VEN), which Renuka Ramnath had led until April 2009, had originally invested about INR 48 crores in the company (in 2003 & 2005) - when it was still private. The company went IPO in late 2005 and I-VEN sold its stake in Jul-Sep 2007, raking in 4.3 times its invested capital. In 2008, I-VEN made a fresh investment of INR 31 crore in the now listed PVR. This investment however fetched less than 1.7 times by the time I-VEN completely sold its stake in April 2013.


In November 2012, Renuka Ramnath founded independent firm, Multiples PE, invested INR 153 crore in PVR through preferential allotment and, between April and September 2014, it made a part exit by selling shares worth about INR 152 crore (fetching a 2.37x return). In June 2015, Multiples PE invested INR 350 crore more via a new preferential allotment and through 2016, it invested an additional INR 122 crore in through open market purchases. In January 2017, Multiples sold INR 530 crore worth of its PVR holdings to fellow PE investor, Warburg Pincus, again fetching 2.37x return. Post the January part exit, Multiples held a 14% stake in PVR.

Nalanda Capital, a public markets focused firm launched in 2006 by former PE fund manager Pulak Prasad, has successfully revisited a few companies that his former employer - Warburg Pincus - had invested into including Havells India, DB Corp and Vaibhav Global. Interestingly, in the case of Vaibhav Global (earlier called Vaibhav Gems), Nalanda (which invested in October 2007) is sitting on gains even though Warburg Pincus (which had originally invested in 2005) lost a significant portion of its invested capital when it finally sold off its stake in 2015.

The WestBridge Capital team, which spun out of Sequoia Capital India in 2011 to focus primarily on listed companies, has also invested from their new firm into a clutch of companies that they had originally invested in while at Sequoia. However, their “re-investment” experience has not been as happy. Companies like Dr. Lal Pathlabs and eClerx, while profitable exits, fetched lower returns than that for Sequoia. Westbridge lost 50% of its invested capital in Manappuram Finance (whereas Sequoia had made over 7x), not to speak of its investment in the beleaguered Vasan Eye Care.


In April 2017, Mathew Cyriac, founder of newly launched PE firm Florintree and the former co-head of Blackstone’s private equity business in India, bought Blackstone’s 39.96% stake in listed textiles firm Gokaldas Exports for INR 58.61 crore. The deal saw Blackstone exiting with a 79% loss on the INR 676 crore investment it made a decade ago. While investing in companies where the first outing was profitable is one thing, this high conviction investment is one that even Mr. Buffett would want to make note of.



Leelavinothan Arumugam and Arun Natarajan are, respectively, Head-Research & Founder-CEO of financial analytics firm, Venture Intelligence.

Mint Coverage of the article:


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.

August 07, 2017

Mint-Venture Intelligence Deal Tracker (July 31)

Venture Intelligence is powering the (Weekly) Deal Tracker on The Mint tracking all Private Equity, Venture Capital, M&A, Real Estate and Strategic investments in India. The Deal Tracker is featured in the Deals Section (Page 3) every Monday.




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.

August 03, 2017

Seed funding slows in June Quarter - Mint

A Mint article quotes Venture Intelligence data on the falling seed investments in 2017. Seed investments are at a 3-year low.



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.

July 31, 2017

Mint-Venture Intelligence Deal Tracker (July 24)

Venture Intelligence is powering the (Weekly) Deal Tracker on The Mint tracking all Private Equity, Venture Capital, M&A, Real Estate and Strategic investments in India. The Deal Tracker is featured in the Deals Section (Page 3) every Monday.




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.

July 26, 2017

Will we see InfiDeal/ SnapBeam?



According to a new Mint article, the Snapdeal founders are "pushing" for a merger of the company with publicly listed Infibeam, which has reportedly offered a $700 million stock merger deal. Venture Intelligence compares the two companies on select metrics:



Do you think Snapdeal's combination with Infibeam makes better sense than to go with Flipkart?

The financial numbers for Snapdeal (Jasper Infotech) is sourced from the Venture Intelligence Companies Financial Search (CFS) Database which includes data on thousands of privately held companies.

Click here to take a trial to the CFS Database.

The infographic was featured in today's Mint edition:



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.

July 25, 2017

Mint-Venture Intelligence Deal Tracker (July 17)

Venture Intelligence is powering the (Weekly) Deal Tracker on The Mint. The Deal Tracker is featured in the Deals Section (Page 3) every Monday.




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.

July 24, 2017

Funding and investments in Indian fashion: Business of Fashion

A report by Business of Fashion magazine's Namita Bhagat covering investment opportunities and challenges in the Textiles, Apparel & Fashion space in India quotes Venture Intelligence data on funding and M&A. The online edition can be read here.






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.

July 23, 2017

Mint-Venture Intelligence Deal Tracker (July 10)

Venture Intelligence is powering the (Weekly) Deal Tracker on The Mint. The Deal Tracker is featured in the Deals Section (Page 3) every Monday.




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.

July 19, 2017

Are VCs shifting to B2B in 2017? - ET Now Startup Central with Dev Khare, Lightspeed

ET Now’s Startup Central show featured Venture Intelligence data on Quarterly and Half Yearly VC Investments in 2017. Dev Khare, Managing Director, Lightspeed India was a special guest on the show sharing some of the firm’s perspective on the recent trends




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.

State of realty: Rotten foundations? Yes; Unreal expectations? No

An International Business Times article by Ravi Menon, covering the effect of recent regulations on Indian Real Estate, quotes Venture Intelligence data on Private Equity investments in the sector:
Private equity (PE) players may still not buy into the realty gloom story. PE funds have put in $2.5 billion across 29 deals in real estate in the first half (H1) of 2017, which is 61 per cent higher than the corresponding period of 2016, according to data collated by Venture Intelligence. That points to robust optimism ruling the residential market. But there is a catch. Only half of the deals closed in H1 are residential and the rest are commercial, unlike two years ago, when 100 per cent of the deals were residential.

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.

July 18, 2017

Shriram-IDFC deal to give investors exit option: Business Standard

A Business Standard article quotes Venture Intelligence data on Private Equity investments and exits in Shriram Group, which is in talks with IDFC for a potential merger.
"The group firms have attracted an investment of $1.08 billion infused by 17 PE players over a period of 12 to 15 years. This is excluding the strategic investments, including Piramal and Sanlam, and debt investments.
According to Venture Intelligence data, Shriram City Union Finance raised $550 million from a number of PE players including Norwest, ChrysCapital, Merrill Lynch, CPIM Funds, ICICI Venture, Bessemer, and Apax Partners.
According to Venture Intelligence data, there were 17 exits — both complete and partial — from SCUF between June 2008 and July 2016. These have brought back a return multiple ranging from 1.91x for ICICI Venture to 4.97x for Norwest Venture Partners. STFC has seen a complete exit of TPG Capital for a return multiple of 6.05x in May 2013 and three partial exits by ChrysCapital and TPG Capital before this. ChrysCapital has seen the highest return multiple in two partial exits, compared to the other exits across the group, at 10.7x and 8.78x."


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.

July 17, 2017

AZB & Partners tops Legal Advisor League Table for M&A deals in H1’17

Shardul Amarchand Mangaldas, Vaish Associates claim the No.2 & No.3 slots


AZB & Partners topped the Venture Intelligence League Table for Legal Advisors to M&A Transactions during the first six months of 2017. AZB & Partners advised M&A deals worth $14.4 Billion (across 24 qualifying deals) during the period. Shardul Amarchand Mangaldas ($13 Billion across 10 deals) and Vaish Associates ($12.5 Billion across 2 deals) followed next. S&R Associates ($12.4 Billion across 5 deals) occupied the fourth spot while Bharucha & Partners and Slaughter May shared the fifth spot for H1 2017. All the top five firms were involved in the Vodafone-Idea merger deal.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.

AZB advised deals during the period included the sale of Tikona’s 4G business to Bharti Airtel and the Havells-Lloyds Electrical & Engineering deal. AZB also advised the sale of $587 million stake in Tata Motors by Tata Steel (to Tata Sons). Transactions advised by SAM included the $275 million acquisition of a majority stake in Aegis BPO by Private Equity fund Capital Square Partners and the Tikona-Bharti Airtel deal. Vaish Associates also advised the Denstu Aegis acquisition of SVG Media.

AZB topped the tables in terms of deal volume during H1’17, while Khaitan & Co. (18 deals worth $1.2 Billion) and HSA Advocates (11 deals worth $465 million) accounted for the top 3 slots  by activity. Cyril Amarchand Mangaldas (10 deals worth $693 million) finished the half year at fourth spot while SAM took the fifth spot.

The full league tables can be viewed online at http://www.ventureintelligence.com/leagues.php

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.

AZB & Partners tops Legal Advisor League Table for PE deals in H1’17

Cyril Amarchand Mangaldas, Khaitan & Co. claim the No.2 & No.3 slots


AZB & Partners topped the Venture Intelligence League Table for Legal Advisor to Private Equity Transactions during the first six months of 2017. AZB advised PE deals worth $4.8 Billion (across 36 qualifying deals) during the period. Cyril Amarchand Mangaldas ($3 Billion across 27 deals) and Khaitan & Co. ($1.5 Billion across 17 deals) followed next. Shardul Amarchand Mangaldas ($1.1 Billion across 10 deals) and S&R Associates ($555 million across 8 deals) completed the top five for H1’17.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.

AZB advised deals include Carlyle’s $955 million investment in PNB Housing and the $952 million investment by investors including KKR in Bharti Airtel. Transactions advised by CAM included the $1.4 Billion investment in Flipkart by Microsoft, Tencent, and eBay and the $250 million investment in Phoenix Mills by Canada Pension Plan Investment Board(CPPIB). Transactions advised by Khaitan & Co. included the $383 million stake sale in ICICI Lombard by Fairfax Holdings to Warburg Pincus and the Phoenix Mills - CPPIB deal.

AZB topped the tables in terms of deal volume, while CAM and Khaitan & Co. came in next. With 15 deals each, Indus Law and Vertices Partners occupied the fourth spot. J Sagar Associates (14 deals) claimed the fifth spot. 

The full league tables can be viewed online at http://www.ventureintelligence.com/leagues.php

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.

CPPIB grabs pole position for PE investment: Business Standard

A Business Standard article quotes Venture Intelligence data on the top PE investors in India in H1 2017.
In seven years, Canada Pension Plan Investment Board (CPPIB) has transformed itself from a passive investor in India to the largest private equity (PE) investor. It has invested over $1.5 billion in the past six months.
It is followed by Japanese firm SoftBank and US-based PE giant Warburg Pincus which invested $1.4 and $1.1 billion, respectively, in this period.


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.

July 13, 2017

Axis Capital Tops Transaction Advisor League Tables for M&A Deals in H1 2017

Kotak, UBS Securities take no.2 and no.3 slots; EY tops inclusive of due diligence services



Axis Capital topped the Venture Intelligence League Tables for Transaction Advisor to M&A deals for H1 2017 advising M&A deals worth $12.7 billion (across three qualifying deals) followed by Kotak ($12.6 billion across three deals) and UBS Securities ($12.5 billion across two deals).

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.

The biggest M&A deal in 2017, the Idea Cellular – Vodafone merger involved the top 3 firms as well as firms such as Morgan Stanley, Robey Warshaw and Rothschild who occupy the fourth slot.

Axis Capital advised M&A deals also included the buyout of Aegis BPO by Capital Square Partners. Kotak advised deals also included the acquisition of auto component manufacturer Sono Koyo Steering Systems by JTEKT Corporation and the Ingenico acquisition of payments firm TechProcess Solutions. UBS Securities also advised the Inox Renewable wind farm sale to Leap Green Energy. EY ($1.6 billion across eight deals) completed the List of Top 5 for H1 2017.
Inclusive of its roles in due diligence and related advisory activities, EY topped the League Table advising 24 M&A deals worth $28.1 billion in H1’17. Axis Bank, Kotak and UBS occupied the second, third and fourth spots while Deloitte ($12.5 Billion across 4 deals) occupied the fifth spot. EY also grabbed top spot by number of deals followed by KPMG which advised 8 deals.

The full league tables can be viewed online at http://www.ventureintelligence.com/leagues.php

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.

July 12, 2017

ICICI Securities Tops League Table for Financial Advisor to Private Equity Transactions in H1 2017

Veda Corporate Advisors & o3 Capital top by deal volume; EY tops table inclusive of due diligence & other services

 Venture Intelligence PEVC, M&A League Tables

ICICI Securities claimed the top position in the Venture Intelligence League Table for Transaction Advisor to Private Equity deals in H1 2017 acting as financial advisor to the $383 million stake sale in ICICI Lombard General (by Fairfax Holdings) to investors including Warburg Pincus. Citi (which advised the $360 million Tata Technologies-Warburg Pincus deal)and Axis Capital ($275 million buyout of Aegis BPO by Capital Square Partners) registered the second and third spots respectively. 

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.

Deloitte ($250 million investment by CDPQ in a Realty JV with Piramal Enterprises) and Avendus ($208 million across four deals) completed the Top 5 list by value. Avendus advised deals were led by the $80 million Series C round raised by food delivery firm Swiggy.com and the $56 million investment in market research firm MarketsandMarkets.

Veda Corporate Advisors and o3 Capital topped the tables in terms of deal volume advising five deals each. Avendus, KPMG, Intellecap and IndigoEdge came in next advising four deals each.

Veda advised deals included the $15 million investment raised by facilities management firm Updater Services and the $10 million raised by Dr. Mohan’s Diabetes Clinic. o3 Capital advised deals include the $30 million raised by Continuum Wind Energy and $21 million raised by Nightingales Home Health Services.

Inclusive of its roles in due diligence and related advisory activities, EY advised deals with a value tag of $2.2 Billion (across a total of 21 deals) during H1’17. EY advised deals during the period included the $950 million investment in Bharti Infratel by CPPIB and KKR and the $250 million investment by Macquarie in Hindustan Power Projects (Formerly Moser Baer Projects). By deal count, KPMG came in second advising six deals worth $287 million including the $200 million investment in ReNew Wind Power.

Among Impact / Social Venture investments, Intellecap topped in terms of number of deals advised - four deals with a value tag of $44 million including the investment in Arohan Financial Services by Tano Capital and Aavishkaar.

The full league tables can be viewed online at http://www.ventureintelligence.com/leagues.php

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.

July 11, 2017

How did PE/VC investors in AU Small Finance fare in the IPO?




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.

July 10, 2017

Japan’s private investment in India tops $1 billion in first half of 2017: Japan Times

A Japan Times article quotes Venture Intelligence data on investment by Japanese firms in India:
Japanese firms invested at least $1.43 billion (about ¥163 billion) in Indian private equity and venture capital deals in the first half of 2017, more than triple the $459 million in 2016, according to data provided by Indian research firm Venture Intelligence. 
Telecommunications giant SoftBank Group Corp. accounted for $1.40 billion, or 98.9 percent, of the first-half sum with two large deals in the telecom sector. Six other deals were sealed with Japanese companies, ranging from marketing for agriculture and logistics to travel and wellness, the data showed.
In one of its two deals, SoftBank invested in One97 Communications Ltd., which operates India’s largest mobile payment and commerce platform under the Paytm brand. The remaining $30 million came from Mistletoe Inc., GREE Ventures Inc., Rebright Partners Ltd. and SoftBank, in partnership with other non-Japanese firms, in deals involving various Indian startups.
Japanese investors like RE.A.PRA Ventures Ltd. and asset management firm Asuka Holdings Inc., along with their partners, also invested undisclosed sums, according to the Chennai-based research firm that tracks private equity and venture capital investments in the country.
The Indian startups involved include agricultural marketing platform Ninjacart, logistics service platform Lets Transport, digital community platform for women POPxo, real estate service provider Property Share Online Platform Ltd., adventure travel startup Deyor Adventures Ltd., wellness startup Healthians and Balance Hero Co. that provides an app enabling prepaid mobile phone users to check their remaining credit balance.
According to the research firm, even the lesser known Japan-based investors such as Beenos Inc., Digital Garage Inc. and GMO Internet Inc. have shown a keen interest in Indian startups.

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.

July 07, 2017

Karadi Finally on Right Path with Social VC Funding?

Business Line has a fascinating account of the travails faced by Chennai-based children's entertainment and education brand, Karadi Tales, in its search for strategic / financial partners.
Viswanath has been fire-fighting to keep afloat Karadi Tales (now a unit of Karadi Path), the company he and his wife Shobha founded in 1996. A distribution agreement with Times Music had landed them in court. And the merger with ACK Media (publishers of Amar Chitra Katha) and subsequent acquisition by Kishore Biyani’s Future Ventures didn’t pan out as expected. 
...The partnership (with Times Music) turned sour when there was a change in leadership at Times Music...When Viswanath cited the exit clause and asked for the agreement to be nullified, his partner refused to oblige and instead took him to court, which issued a stay order. Viswanath and his team, despite founding Karadi Tales, could no longer use the brand. “It took us two years to get out of the case,” says Viswanath, who also had to face an arrest warrant. Meanwhile, the company bled and went into debt. 
...Biyani’s Big Bazaar — the supermarket chain — was present across India and appeared an ideal vehicle to sell Karadi Tales audiobooks. It was heartening that Biyani had a vision for products such as Amar Chitra Katha and Karadi Tales. In an interview to a business daily, he had talked about using stories woven around mythology and culture to impart values to the young.But did the promoter’s vision trickle down to store managers and sales executives? “For those obsessed with turnover per square feet, Karadi Tales might not be priority when there are other faster-moving and higher-valued products on the shelf,” says Parasuram. 
Realizing the futility of doing "outsized partnerships", Vishwanath is now rebuilding Karadi with the help of two Social Venture Capital firms (also called as Impact Investors): Pearson Affordable Learning Fund (part of the British publishing major Pearson) and Aavishkaar.

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.

July 04, 2017

Venture Capital investments dip 25% in Q2’17

At 78 deals worth $275 million, Q2 2017 is lowest quarter for VC investments in the last 3 years, Venture Intelligence data shows

Venture Capital investments slid to 78 deals worth $275 million during the three months ending June 2017. The investment activity in Q2’17 was 25% lower compared to the same period in 2016 (which witnessed 104 investments worth $309 million). The activity level was 7% lower compared to the immediate previous quarter (which witnessed 84 deals worth $349 million). 


IT & ITeS companies attracted 54 investments worth $180 million (69% of the activity pie) - down 33% compared to the same period in 2016. Top tech investments included e-commerce search software company Unbxd, insurance marketplace Coverfox, logistics tech company Fortigo and edtech company Unacademy. Financial Services firms – led by OneAssist and Ummeed Housing Finance- attracted 4 investments worth $25 million. 


Seed rounds witnessed a steep 53% fall in Q2 2017 to 22 transactions (compared to the 47 deals in Q2 2016).The Series A round (or First Round of institutional investments) was the only category to witness a rise, climbing 15% in Q2 2017 to 39 transactions, the Venture Intelligence analysis showed.






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.

July 03, 2017

Private Equity investments up 62% to $5.4 Billion in Q2’17

Half year total hits record high of $11.3 Billion, Venture Intelligence data shows

3rd straight quarter of over $5 Billion in PE investments – a new record again

Private Equity firms invested about $5.4 Billion across 124 deals during the quarter ended June 2017, according to data from Venture Intelligence (http://www.ventureintelligence.com), a research service focused on private company financials, transactions and their valuations. The investment amount was 62% higher than the amount registered in Q2’16 (which had witnessed $3.3 Billion across 145 transactions) but 9% lower than the immediate previous quarter (which saw a record $5.9 Billion across 148 transactions). These figures take the total investments in the first six months of 2017 to a record $11.34 Billion (as against the $7.4 Billion across 335 companies in the same period last year and the previous record high of $10 billion in the second half of 2007). (Note: These figures include Venture Capital investments, but exclude PE investments in Real Estate.)

The largest investment reported during Q2’17 was the $1.4 billion investment by SoftBank in One 97 Communications, the parent company of mobile payments service Paytm. The latest quarter witnessed 10 PE investments worth $100 million – twice that during the same period last year. Canadian pension fund CPPIB as well global PE firm Warburg Pincus were also especially active during the period and joined SoftBank in the list of investors committing to invest over $1 billion in the first six months of 2017. 


“The most heartening factor about the record investment figures of 2017 is that it has been spread across a wide range of sectors,” noted Arun Natarajan, CEO of Venture Intelligence.  “While last year’s favorites of Financial Services of Infrastructure sectors continue to attract mega dollars, big ticket investments in new age companies like Paytm - along with facilitating healthy exits for early investors - have provided re-assurance that the E-Commerce story in India is far from over.”

On the back of mega investments in companies like Paytm, Tata Technologies and Aegis BPO, IT & ITeS companies accounted for 49% of the PE investment value pie in Q2’17 attracting almost $2.6 billion across 68 transactions. Led by the Warburg Pincus investment in ICICI Lombard, BFSI companies came in next attracting $689 million across 12 PE investments, followed by Logistics companies which attracted $536 million across four transactions (led by CPPIB’s $500 million investment in Indospace Core).

Venture Intelligence subscribers will be mailed the reports with more detailed analysis of the quarterly trends.

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.