Page 9 - Private Equity

Unicorn list declines in 2023, indicates slowdown in funding: Hurun report

New additions in the coveted unicorn list declined sharply in 2023, indicating a slowdown in the Indian startup ecosystem, a report said on Tuesday. India added only three unicorns startups having a valuation of over USD 1 billion in 2023 against 24 in the year-ago period, as per the ASK Private Wealth Hurun Indian Future Unicorn Index 2023. The slowdown in unicorn additions is indicative of a "slowdown in India's startup ecosystem", the report -- which comes amid a slowdown in investor interest in what is being termed as "funding winter" -- said. The overall number of unicorns also declined to 83 from 84 in the year-ago period. ASK Private Wealth's chief executive and managing director Rajesh Saluja said unsustainable business models adopted by startups have led to a dip in valuations but stressed that funding to the right companies continues. Hurun India's chief researcher Anas Rahman Junaid, however, said that the Indian startup story has high potential and he sees the overall

Recession risk, rate rises drive down private equity deals to 4-yr low

Since the start of the year, buyout firms have been unable to secure cheap debt and have had to draw on their own funds, marking a departure from traditional leveraged buyouts

Byju's early investor Pai calls for better governance after auditor exit

Deloitte disclosed on Thursday that it was resigning as auditor because Byju's had delayed providing financial statements for 2021-22

In Indian start-up technology churn, generative AI gets edge over Web3

Raise $7.1 million in funding across eight deals until June 1

PE/VCs investment in India falls 44% to $3.5 billion, says report

The dedicated funds had invested $6.2 billion in May 2022 and $7.4 billion in the preceding month of April 2023, representing a dip of 44 per cent and 52 per cent, respectively

KKR to take machinery maker Circor private in $1.6 bn deal, stock up 49%

KKR said it will pay $49 per share, sending Circor's stock up 49% at $47.20 in premarket trading. The offer represents a premium of nearly 55% to Circor's last close on Friday

Multiples Alternate announces $640 million first close of PE fund

Indian private equity firm Multiples Alternate Asset Management on Wednesday announced the first close of a $640 million fund aimed at investing in domestic companies

Apollo pitches investors on deal to ease industrywide fundraising slump

The firm pitched it as a way to ease clients' liquidity pressures, according to people familiar with the matter

India gets over $60 bn in PE-VC investments for third year straight: Report

Country 'bright spot' in Asia Pacific region where capital flow is decelerating, it says

Private equity inflow in real estate plunges 95% to $45 mn in Jan-Mar

Private equity (PE) investment into Indian real estate fell sharply by 95 per cent in January-March to USD 45 million amid global uncertainties, according to property consultant Savills India. PE investment stood at USD 1 billion in the year-ago period. "The investment activity has been subdued due to growing global recession concerns, rising capital costs, and a mismatch in valuation expectations between sellers and investors, which have become significant hindrances to capital deployment in India," Savills said in a report. Furthermore, recent events in the global financial world, including the collapse of Silicon Valley Bank and the contagion spreading to other mid-market US banks, have contributed to the overall uncertainty in India's office leasing demand, it added. "The dip in private equity investment inflows into the Indian real estate sector in Q1 is understandable, given the prevailing geo-political and economic global challenges and uncertainties," said Diwakar Rana, ...

March-quarter PE investments fall 75% in sixth straight three-monthly dip

This is the lowest start to a year by value for PE investments in India since 2018 ($1.7 billion)

PE investments in India decline over 75% in Q1 of CY23, lowest since 2018

It is the sixth straight quarter of decline as global macroeconomic and geopolitical headwinds drive caution in investment activity, says analyst

Fasten your seat belts: The switch to Fintech 2.0 has just begun

A shakeout among fintech firms is very likely, as the stress on governance and compliance is set to go up many notches

Biden to urge 25% billionaire tax, levies on rich investors & corporations

Biden's budget request to Congress, which is slated to be released Thursday, calls for a 25% minimum tax on billionaires, according to a White House official familiar with the proposal

Investors eyeing asset sale of GoMechanic; decision likely in a week

The firm reportedly did not maintain inventory records for receipts and issuance of goods directly received by the customers

Edtech startup NxtWave raises $33 mn, Greater Pacific Capital leads round

Nandan Desai, MD and Co-Head of India for GPC, to join NxtWave Board as part of deal; Existing investor Orios Venture Partners also invests in round

The King's Roll-Up Gambit: Creating Billions Of Dollars of Private Equity Returns in India

By AltG Research on behalf of Taponeel Mukherjee & Poornima Vardhan

Barings PE may sell some stake in Coforge for up to Rs 2,600 cr: sources

The private equity firm has hired IIFL to seek investor interest in the deal and has offered up to 7% discount to the Friday closing market price of Rs 4,348 a share

Top VC firms reduce investments in India amid macroeconomic uncertainty

With late-stage funding rounds becoming tougher, they are focusing more on due diligence, profitability path, governance and early entry into companies at lower valuations

Polaris Smart Metering raises $100 mn in funding from I Squared Capital

Funds raised will primarily be used to acquire, execute and finance large smart metering contracts across India