Private Equity/Venture Capital Firms Invest $8.3 Bn in Quarter

Chennai: Private Equity and Venture Capital firms invested over $8.3 billion in the June quarter, which was 30 per cent higher than the funding in the March quarter, but 33 per cent lower compared to the same quarter last year.

The $8.3 billion invested across 233 deals was 33 per cent lower than $12.4 billion invested across 235 deals in the same period in 2023. However, it is 30 per cent higher than $6.4 billion being invested across 198 deals in the March quarter.

For the first six months of 2024 a total of $14.6 billion was invested and this is 24 per cent lower compared to $19.2 billion in the same period in 2023, according to Venture Intelligence.

The June quarter saw 22 mega deals of over $100 million worth a total of $5.8 billion. The largest PE investment was the $900 million majority stake acquisition in IT Services firm Altimetrik by TPG Capital. With this deal, IT & ITES emerged as the favourite industry, attracting a total of $3.5 billion. The $665 million investment in quick-commerce firm Zepto and the $275 million investment in e-commerce start-up Meesho were the other key deals in the sector.

KKR’s $840 million acquisition of the Bengaluru-based medical devices maker Healthium Medtech was the second biggest deal of the quarter and helped the healthcare and life sciences industry grab the second slot with a total of $2.1 billion. The $300 million preferential allotment in Apollo Hospitals and the $120 million buyout of Maiva Pharma were the other important deals in the sector.