The Venture Intelligence Blog

Private Equity-Venture Capital (PE-VC) funds invested $6 Billion (across 139 deals) in India-based companies during the quarter ended  September 2023 (Q3'23),  shows data from  Venture Intelligence , a research service focused on private company financials, transactions, and their valuations . This represents a 15% decline compared to the same period in 2022 (which saw $7 Billion being invested across 327 deals) .  The investment amount also dipped 49% compared to the immediate previous quarter (which saw $11.7 Billion being invested across 202 deals).                                                                                                                                                                      The  PE-VC investment figures for the first 9 months of 2023 - at $23.6 Billion (across 542 deals) came in 38% lower compared to the same period in 2022 (which saw $38.1 Billion b

Shardul Amarchand Mangaldas and Cyril Amarchand Mangaldas claim the No.2 & No.3 slots AZB & Partners (AZB) topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions by value during H1 2023. AZB advised 29 M&A deals worth $5.7 Billion. It was followed by Shardul Amarchand Mangaldas (SAM) ($5.4 Billion across 22 deals) and Cyril Amarchand Mangaldas (CAM) ($5.2 Billion across 35 deals) in the second and third spots respectively. Trilegal ($4.6 Billion across 28 deals) took the fourth spot with J Sagar Associates (JSA) ($3.5 Billion across 6 deals) completing the top five. Among the larger M&A deals during H1 2023, Trilegal, JSA, AZB and Milbank advised the Singapore government-owned Temasek Holdings in acquiring a 41% stake in Manipal Hospitals for $2 Billion .  AZB, Wadia Ghandy , JSA and SAM advised the $1.1 Billion acquisition of HDFC Credila by Baring Asia and ChrysCapital .  Anagram Partners, Gornitzky & Co, Freshfields Bruckh

JP Morgan and InCredMAPE claim the No.2 & No.3 slots Jefferies & Co topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals   during H1 2023, having advised the $1.1 Billion buyout of HDFC Credila by a consortium of Private Equity investors. JP Morgan ($487 million across 1 deal) and InCredMAPE ($387 million across 2 deals) took the second and third spots respectively. o3 Capital ($211 million across 4 deals) and Investec ($152 million across 1 deal) completed the top five. The  Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on the value of PE and M&A transactions advised by Financial and Legal Advisory firms. Among the larger M&A deals in the latest quarter, Jefferies & Co. advised t he $1.1 Billion acquisition of HDFC Credila by Baring Asia and ChrysCapital . JP Morgan acted as the advisor to the $487 million acquisition of Virescent Rene

Trilegal and Shardul Amarchand Mangaldas claim the No.2 & No.3 slots AZB & Partners (AZB) topped the Venture Intelligence League Table for Legal Advisor to Private Equity Transactions in H1 2023. The firm advised PE deals worth $8.7 Billion (across 42 qualifying deals) during the period. Trilegal ($7.4 Billion across 35 deals) and Shardul Amarchand Mangaldas (SAM) ($6.5 Billion across 56 deals) took the second and third spots respectively. Khaitan & Co. ($3.6 Billion across 38 deals) and J Sagar Associates (JSA) ($3.5 Billion across 10 deals) completed the top five. Among the larger Private Equity deals during H1 2023, AZB, Trilegal, J Sagar Associates (JSA ) and  Milbank advised Singapore government owned Temasek Holdings’ $2 Billion investment in Manipal Hospitals .  Trilegal, SAM, Khaitan & Co . and Wadia Ghandy advised $1.42 Billion fund investment by GIC in Brookfield India Real Estate Trust REIT . AZB, Wadia Ghandy, JSA and SAM advised  the $1.1 Billion

Jefferies & Co. and ICICI Securities claim the No.2&3 slot Avendus topped the Venture Intelligence League Table for Transaction Advisor to Private Equity Transactions for H1 2023 advising 10 deals worth $1.46 Billion. Jefferies & Co. stood second having advised the $1.1 Billion HDFC Credila deal. ICICI Securities followed with 6 deals worth $449 million. Ernst & Young ($408 million across 7 deals) and Aeka Advisors ($228 million across 3 deals) completed the top five for H1 2023. The  Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on the value of PE and M&A transactions advised by Financial and Legal Advisory firms. Among the larger deals in the latest quarter, Jefferies & Co., Ernst & Young, Arpwood Capital acted as advisors to the $1.1 Billion buyout of HDFC Credila by consortium of private equity firms, including BPEA EQT and ChrysCapital. Ernst & Young

Private Equity-Venture Capital (PE-VC) investments in India during the quarter ended June 2023 (Q2'23), at $9.85 Billion across 182 deals, registered a 33% decrease compared to the same period in 2022 (which saw $14.6 Billion being invested across 371 deals). The investment amount however rose 74% compared to the immediate previous quarter (which saw $5.7 Billion being invested across 181 deals), shows data from  Venture Intelligence , a research service focused on private company financials, transactions, and their valuations. The PE-VC investment figures for the first 6 months of 2023 - at $15.5 Billion (across 363 deals) - was 50% lower compared to the same period in 2022 (which saw $31 Billion being invested across 800 deals). Q2’23 witnessed 19 mega deals ($100 M+

The month of May 2023 saw Private Equity-Venture Capital (PE-VC) Investments worth $1.7 Billion in Indian companies (across 63 transactions), shows data from Venture Intelligence, a research service focused on private company financials, transactions, and their valuations. The deal value fell by 68% compared to the immediate previous month (which saw $5.3 Billion being invested across 61 deals) and a 53% decline from May 2022 (which saw $3.6 Billion being invested across 121 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 $12.6 Billion (across 307 deals). Mega Deals May 2023 witnessed 5 PE investments worth $100 million or more, compared to 7 mega deals in the previous month and 11 such transactions in May 2022. Top PE-VC Investments in India (2023 YTD*) Exits Witness Decline PE-VC firms harvested $1.5 billion across 20 exit deals during May 2023

Press Release Less than 1 in 3 startups that attract seed funding manage to raise follow-on funding in the form of a “Series A” round, a study by Venture Intelligence, the leading provider of data on private company financials, transactions and their valuations, shows.  Out of the over 2,500 startups that had raised seed funding between 2015-2022, only 29% (i.e., 734 companies) managed to raise a Series A round (typically the first round of institutional Venture Capital funding), the study titled “Series A Landscape Report” found. However, once a startup attracts a Series A round, its success ratio in raising subsequent rounds of capital, improves quite significantly. For instance, 50% of the companies that raised a Series A during the study period, succeeded in raising a Series B round. And, of the startups that attracted a Series B round, 62% succeeded in obtaining a Series C round. Of the Series C funded companies, 70% managed to raise rounds that were Series D and beyond. (Note: Th