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PE-VC Investments drop 57% month-on-month to less than $1 Billion in Feb 2023; Exits drop by a third

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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
PeriodNo. of DealsAmount ($B)
2023 YTD*1213.0
2022127146.6
Feb/2023450.9
Jan/2023762.1
Feb/20221276.3
Source: Venture Intelligence
Note:* Data as of February 28,2023

PE-VC Investments in India (M-o-M)
MonthNo. of DealsAmount ($B)
2022
Jan1415.2
Feb1276.3
Mar1534.9
Apr1186.0
May1083.5
Jun1244.4
Jul863.2
Aug1052.0
Sep861.7
Oct812.9
Nov773.4
Dec653.2
2023 YTD*
Jan762.1
Feb450.9
Note:* Data as of February 28,2023
Source: Venture Intelligence



Mega Deals

February witnessed 4 PE investments worth $100 million or more, compared to 6 mega deals in the previous month and 17 such transactions in February 2022

Mega PE-VC Deals ($100M+ Deals)
MonthNo. of DealsAmount ($B)
Feb/202340.4
Jan/202361.2
Feb/2022175.0
Source: Venture Intelligence


Top PE-VC Investments In India
CompanySectorInvestorAmount ($M)
Feb/2023
Tl Clean MobilityAutomobiles (Electric Vehicles - Two Wheelers)Multiples PE, Others145
FreshtohomeE-Commerce (Consumer Shopping - Sea Food)Mount Judi Ventures, Iron Pillar, Amazon, InvestCorp Group, Ascent Capital, Investment Corporation of Dubai, Others104
Gram PowerMobile App (Energy Management)I Squared Capital100
PhonePeOnline Services (Payments - UPI)Ribbit Capital, TVS Capital, Tiger Global100
AcceldataEnterprise Software (SaaS - Data Observability)March Capital, Insight Venture Partners, Others50
UshurEnterprise Software (SaaS - Artificial Intelligence - Bots - CRM)Pentland Ventures, 8VC, Aflac Ventures, Iron Pillar, Others50
Pan HealthWellnessMotilal Oswal49
Note:* Data as of February 28,2023
Source: Venture Intelligence

Exits Witness Decline

PE-VC firms harvested $600 million across 10 exit deals during February 2023- a decline of about 33% compared to the immediate previous month (which saw 15 deals worth $900 million). 


PE-VC Exits in India
PeriodNo. of DealsAmount ($B)
2023 YTD*251.5
202222717.8
Feb/2023100.6
Jan/2023150.9
Feb/2022100.6
Source: Venture Intelligence
Note: *Data as of February 28,2023

The above data is sourced from the Venture Intelligence PE-VC Deal Database, India's first and most comprehensive database of Private Equity-Venture Capital transactions.

For more details, login to the Venture Intelligence PE-VC Deals database or Email your Contact Coordinates to sales@ventureintelligence.com to set up a trial. 

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