The Venture Intelligence Blog

Private Equity-Venture Capital (PE-VC) investments in Indian companies dipped to less than $1 Billion ($900 million across 45 transactions) during the Month of February 2023 , shows data from  Venture Intelligence , a research service focused on private company financials, transactions, and their valuations. The deal value represents a 57% decline compared to the immediate previous month (which saw $2.1 Billion being invested across 76 deals)  and an over 85% decline from February 2022 (which saw $6.3 Billion being invested across 127 deals). (Note: These figures include Venture Capital type investments, but exclude PE investments in Real Estate).  The latest monthly figures take the total PE-VC investments during 2023 to $3 Billion (across 121 deals) PE-VC Investments in India Period No. of Deals Amount ($B) 2023 YTD* 121 3.0 2022 1271 46.6 Feb/2023 45 0.9 Jan/2023 76 2.1 Feb/2022 127 6.3 Source: Venture Intelligence Note:* Data as of February 28,2023 PE-VC Investments in India (M-o-M

  MCA Extends Time for e-Form Filings and Allows Physical Filing of Certain Forms for Interim Period Introduction Since the transition of MCA-21 portal from Version 2 (V2) to Version 3 (V3), companies have been facing several glitches on the online portal impacting their reporting compliances. Considering the technical issues due to migration on the MCA-21 portal causing delay in filing of time-bound forms, MCA has released circulars which will bring some relief to the stakeholders. Extension of Time: General Circular No. 04/2023 (i) The Ministry of Corporate Affairs (“ MCA ”) through its General Circular No. 04/2023, dated February 21, 2023, has extended the deadline for filing of 45 (forty-five) Company e-forms launched with effect from January 23, 2023 (due for filing between February 7, 2023, and February 28, 2023) until March 31, 2023, at no additional cost ( refer to our earlier update here (ii) on the launch of upgraded company e-forms ). This extension of timeline by the MCA is

 Insurance Contract with Exclusion Clause and Protection of Insured Consumer Introduction Many of the insured consumers have faced situations where the insurance companies fail to honour their commitments under the insurance contracts on one or the other pretext especially of hidden exclusion clauses in the contracts. Much to the dismay of the insured consumer, the insurance companies walk away from their obligations, basis these exclusion clauses in the insurance contracts. But this may hopefully change in the future owning to the recent Supreme Court’s judgment in the matter of Texco Marketing Pvt. Ltd. versus TATA AIG General Insurance Company Ltd. & Ors.1 Factual Background Texco Marketing Pvt. Ltd. (“ Appellant ”) secured a Standard Fire & Special Perils Policy (“ Policy ”) for its shop from TATA AIG General Insurance Company Ltd. (“ Respondent ”) The shop was situated in the basement of a building. However, the exclusion clause of the insurance contract specified that the

TVS Capital Funds (TCF) received the BFSI Fund of the Year 2022 Award as part of Venture Intelligence APEX‘23 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer.  The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms as well as "crowd sourced" nominations and voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Exit Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) Mr. Gopal Srinivasan, Chairman (Centre) and Mr. Gaurav Sekhri, Senior Principal of   TVS Capital Funds  receiving the Award from Mr. Lalit Valecha, Founder, AVA Group  “We are delighted to receive the best BFSI Apex award from Venture Intelligence. Especially since the Apex awards have a unique process where it is v

Blackstone, Temasek, Motilall Oswal and Stakeboat Capital were awarded as among the leading Private Equity investors in India for 2022 as part of Venture Intelligence APEX‘23 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer.  The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms as well as "crowd sourced" nominations and voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Exit Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) Temasek received the Private Equity Fund of the Year  2022 Award on the back of strong part exits during from  year from Intas Pharma (with an over 7.5x return); Devyani International (with ~4.8x) and Crompton Greaves Consumer Electricals (with ~3.5x).

Arpwood Capital and Axis Capital claim the No.2 & No.3 slots Citi topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals   during 2022, advising 4 deals worth $44.4 Billion. Arpwood Capital ($41.9 Billion across 3 deals) and Axis Capital ($41.7 Billion across 5 deals) took the second and third spots, respectively. Credit Suisse ($41.6 Billion across 2 deals) and Ambit ($41.3 Billion across 4 deals) completed the top five. Among the largest M&A deals during 2022, Citi, HSBC, IIFL Investment Banking, Motilal Oswal, Nomura, JP Morgan, Dhruva Tax Consultants, Jefferies & Co., ICICI Securities, Edelweiss Financial Services, Deloitte, Credit Suisse, Axis Capital, Arpwood Capital, Ambit, Goldman Sachs and JM Financial advised the $40 Billion merger of HDFC Limited with HDFC Bank . Allegro Advisors acted as the advisors to the $3.3 Billion acquisition of Viatris’ biosimilars business by Biocon Biologics (a subsidiary of publicly listed Biocon