PE/VC Investments Soar to $18.6 Billion in H1 2024

01 Jul 2024

Pure play private equity (PE) and venture capital (VC) investments in India, excluding the real estate and infrastructure sectors, reached $18.6 billion in the first half (H1) of 2024. This marks a 20% increase compared to the $15.5 billion invested during the same period last year.

A total of 69 large deals, each valued at over $100 million, contributed significantly to this growth, totaling $22.6 billion in H1 2024. This is an increase from the 61 large deals worth $18.1 billion in the preceding six months. Notable transactions include Brookfield's acquisition of ATC India Tower Corporation for $2 billion, as well as two $1.5 billion deals involving Macquarie's acquisition of Vertelo and a joint investment by ADIA and KKR in Reliance Retail Ventures' warehousing assets.

Exit activity also saw an uptick, with values increasing by 18% to $11 billion compared to $9.4 billion in the previous year. However, this was a decrease of about one-third compared to the $15.5 billion in exits recorded in the latter half of 2023.

Despite the robust investment and exit activities, fundraising efforts were subdued. A total of $6.7 billion was raised by 45 funds in H1 2024, reflecting a 34% decline from the same period last year.

The report underscores the dynamic nature of the PE/VC landscape in India, highlighting the role of strategic acquisitions and large-scale deals in driving investment growth while also pointing to challenges in fundraising efforts.