PE-VC investments declines 33% to $8.3 B in Q2'24; QoQ figure sees 30% uptick

Private Equity - Venture Capital (PE-VC) firms invested over $8.3 Billion (across 233 deals) in Indian companies during Q2’24, shows data from Venture Intelligence, a research service focused on private company financials, transactions, and their valuations.?The Q2'24 investment amount represents a 33% fall over the $12.4 Billion (across 235 deals) invested in the same period during 2023 .?(Note: These figures exclude PE investments in Real Estate).?

The latest quarterly numbers take the PE-VC investment figures for the first 6 months of 2024 to $14.6 Billion (across 431 deals) which is 24% lower compared to the same period in 2023 (which saw $19.2 Billion being invested across 495 deals).

When compared to the immediate previous quarter (Jan - Mar 2024, which witnessed $6.4 Billion being invested across 198 deals) however, Q2'24 has witnessed a almost 30% uptick. Deal volumes in Q2'24 - which were flat compared to Q2'23 - were up 18% compared to the immediate previous quarter.

Click Here to read the full press release, including graphs and the table of top deals.

Q2’24 witnessed 22 mega deals ($100 M+ rounds) worth $5.8 Billion, compared to 23 such investments (worth $10.3 Billion) in Q2’23 and 10 such deals (worth $4.0 Billion) in the immediate previous quarter.??

The largest PE-VC investment in Q2’24 was the $900 Million majority stake?acquisition in the Chennai, India- and USA-based IT Services firm Altimetrik by TPG Capital. KKR’s $840 million acquisition of the Bengaluru-based medical devices maker?Healthium Medtech was the second biggest deal of the quarter. This was followed by $665 Million investment in Quick-Commerce unicorn?Zepto by DST Global, Avenir Growth,? StepStone Group, Lightspeed Ventures, Nexus Venture Partners? and? others and the $554 Million acquisition of Chennai-headquartered Shriram Housing Finance Ltd (SHFL) by Warburg Pincus.

By Industry

Led by the $900 Million acquisition of?Altimetrik by TPG Capital,?IT & ITES emerged as the favorite industry among PE-VC investors in Q2'24, attracting $3.5 Billion (across 125 deals). This was followed by $665 Million investment in Quick-Commerce firm?Zepto?and the $275 Million investment in e-commerce startup?Meesho?(by Tiger Global, Peak XV Partners, Prosus Ventures and Elevation Capital).

The Healthcare & Life Sciences industry came in next, attracting $2.1 Billion across 22 deals in Q2'24. Deals in the industry were led by KKR’s $840 Million acquisition of the Bengaluru-based??Healthium Medtech. This was followed by the $300 Million preferential allotment in Apollo Hospitals and the $120 million buyout of? Maiva Pharma (by Morgan Stanley and InvAscent).

The BFSI industry attracted about $1.4 billion across 19 deals during Q2’24. Investments in the industry were led by $ 554 Million acquisition of Chennai-headquartered Shriram Housing Finance Ltd (by Warburg Pincus), followed by $152 Million preferential allotments in IIFL Finance by Fairfax Holdings and $151 million in Ugro Capital by Samena Capital.

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.

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