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Blackstone, MO Alts and InvAscent win APEX'24 Private Equity Awards

Press Release


Blackstone, MO Alternates (formerly Motilal Oswal PE) and InvAscent were awarded as among the leading Private Equity and Growth Capital investors in India for 2023 as part of Venture Intelligence APEX‘24 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 and "crowd sourced" voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Return Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies)


PE Investor of the Year


Blackstone received the Private Equity Investor of the Year 2023 Award on the back of strong complete exits during the year: from Sona Comstar and IBS Software. Ganesh Mani and Amit Dalmia, Senior Managing Directors of Blackstone, received the award on behalf of the firm.


Ganesh Mani (L) and Amit Dalmia (R) of Blackstone receiving PE Investor of the Year - 2023 Award from Gautam Singh (M) of Trilegal


Mukesh Mehta, Senior Managing Director in Blackstone Private Equity, said: “It’s a great honor to be recognized by Venture Intelligence and our peers for our commitment and strong track record in India. India is one of the priorities for Blackstone’s global business – we were one of the early global investors to enter the market 18 years ago and have since developed a robust portfolio, scale, meaningful partnerships and alignment with management teams. We will continue to do what we do best – building stronger, resilient businesses and communities; delivering for our investors in any environment; and supporting India’s economic growth.”


Healthcare Investor of the Year


InVascent received the Healthcare Investor of the Year 2023 Award on the back of five complete exits during the year and achieving a first close on its new fund. The companies exited successfully by InvAscent included skincare services firm Oliva, medical devices maker Relisys, and pharmaceuticals company Stericon. T. P. Devarajan, Senior Managing Director of InvAscent, received the award on behalf of the firm.


T. P. Devarajan of InvAscent (L) receiving Healthcare Investor of the Year - 2023 Award from C. Venkat Subramanyam, Founder of Veda Corporate Advisors


“A Hattrick! A very proud moment for InvAscent indeed,” said T.P. Devarajan, Senior Managing Director of the firm. “Our continued success has been made possible by founders of our portfolio companies who have delivered exceptional business performance and by our hardworking team which supported them. We take this opportunity to thank our limited partners for backing our faith in the Indian Lifesciences opportunity. We also thank peers in the PE-VC ecosystem for voting us the Healthcare Investor of the Year for the third year running.” he added.


Growth Capital Investor of the Year


MO Alternates (formerly Motilal Oswal PE)  received the Growth Capital Investor of the Year 2023 Award on the back of two part exits via the successful IPOs of auto components firm Happy Forgings and Facilities Management company Updater Services, Vishal Tulsyan, Managing Director and CEO - along with team members Vinit Mehta, Managing Director; Swati Bhartia. Director; Nikhil Wadhwa, Senior Vice President - received the award on behalf of the firm.


Vishal Tulsyan of MO Alts (Second from Right) along with his team members receiving Growth Capital Investor of the Year - 2023 Award from
Puneet Vyas, Vice President, Technology Holdings (Third from Left) and Pranav Atit, Partner, Trilegal (Extreme Right)


“Motilal Oswal Alternates is humbled to be presented with the Growth Capital Investor of the Year award at the APEX ’24 PE-VC awards. We believe the Indian PE industry has evolved to a size and scale where it will play a more significant role in nation building through backing scaled up businesses which further strengthen the foundations of the country, while continuing to deliver robust returns for its investors,” said Vishal Tulsyan, Managing Director and CEO of the firm.



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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