Private equity and venture capital investments rose 8 per cent year-on-year to USD 31.5 billion in the first half of 2024, according to media reports. The amount of funds invested is 30 per cent higher than the July-December 2023 period, according to a report by industry lobby grouping IVCA and consultancy firm EY.
From a volume perspective, the number of deals increased to 654 during the six months, up from 441 in the preceding half-year and 439 transactions in the year-ago period, according to media reports. "Notwithstanding valuation challenges, India continues to be a bright spot for deal-making, with its PE/VC ecosystem innovating to find opportunities for investments and make the best of the buoyant exit conditions," said EY partner Vivek Soni.
Pure play PE/VC investments, excluding the real estate and infrastructure sectors, totaled USD 18.6 billion in H1 2024, which is 20 per cent higher compared to USD 15.5 billion in the same period last year, according to media reports. There were 69 large deals of over USD 100 million each, amounting to USD 22.6 billion in the first half of 2024, compared to 61 large deals totaling USD 18.1 billion in the preceding six months.
Significant deals included Brookfield's acquisition of ATC India Tower Corporation for USD 2 billion, Macquarie's USD 1.5 billion acquisition of Vertelo, and ADIA and KKR's USD 1.5 billion investment in Reliance Retail Ventures' warehousing assets, according to media reports. Exits were up 18 per cent in terms of value at USD 11 billion, compared to USD 9.4 billion in the year-ago period, but were down by around a third compared to the preceding six months' USD 15.5 billion.
The first half of the fiscal recorded USD 6.7 billion of funds raised by 45 funds, which was 34 per cent lower than the year-ago period, according to media reports.
