PE Monthly Roundup 0
PE/VC headline trends Monthly US$ mn # Investments,000 0 00 0 0 0 9,000 0 0 9,00,, 9,0,9 0,,00,0-0 - Jun- Jul- Aug- Sep- Oct- Nov- Dec- - - - - - US$ bn Count US$ mn # Exits,00,000 00-000 00 00 00 00 0 9 09, 9 0 0 0,0,000 - Jun- Jul- Aug- Sep- Oct- Nov- Dec- - - - - - US$ mn # Fund Raise 90 0 0 90 0 9 0 0 90 - Jun- Jul- Aug- Sep- Oct- Nov- Dec- - - - - - 0 0 0 0 0 0 Page
Investments US$. bn over deals PE/VC investments crossed the US$ billion mark for the third consecutive month in 0 and recorded the highest monthly investments ever at US$. billion. This was mainly due to the US$. billion investment in Paytm by Softbank, accounting for % of aggregate deal value for the month. Investments increased by % and % in value terms compared to 0 and il 0 respectively. In volume terms, deals increased by % over 0 while declining by % compared to il 0. There were five deals of value US$00 million and above aggregating to US$. billion, accounting for % of aggregate deal value in 0. Another noteworthy deal during the month was the US$00 million investment by CPPIB in Indospace (a real estate platform for industrial and logistic parks) for a majority stake, thus taking the investments by Canadian pension funds in 0 to close to US$ billion. The strong buyout trend established over the past two years has continued into 0 with US$ billion invested across deals till date. For the to period, the jump has been significant of over 0% compared to 0 and over 00% compared to 0, in terms of both value and volume. Debt deals recorded the highest monthly volume since 0 with US$ million recorded across deals. From a sector perspective, Financial Services (US$. billion across deals) topped the chart on account of the Paytm-Softbank deal, the largest deal in the financial services sector till date. FS was followed by Real Estate (US$09 million across deals) and Ecommerce (US$ million across deals). *** RCP Retail & Consumer Products, RHC-Real Estate, Hospitality & Construction, CBP Cement & Building Products Page
Investments US$. bn over deals Value US$ million Volume Financial services RHC Ecommerce Automotive Power and utilities Food and Agriculture Infrastructure Industrial products Education Technology Healthcare Others 0 00 09 9 Financial services Technology Ecommerce Food and Agriculture Healthcare RHC Automotive Education Logistics RCP Infrastructure Others Deal Size US$ mn (Volume) Deal Stage US$ mn (Volume) 9 () () 0 () () 0 () 0 (0) () (0) () () <$0Mn $0Mn - $0Mn $0Mn - $0Mn $0Mn - $00Mn >$00Mn Expansion/ Growth Start-up/ Early Stage PIPE Buyout Debt ** Deal value not available on out of deals in 0 *** RCP Retail & Consumer Products, RHC-Real Estate, Hospitality & Construction, CBP Cement & Building Products Page
Top Investments Top Investments in 0 Company PE Investor Sector Stage US$mn Paytm SoftBank Financial Services Expansion/ Growth Stake (%),00 NA IndoSpace CPPIB RHC Buyout 00 NA Shriram Properties and Infrastructure Pvt. Ltd., Information Technology SEZ ANI Technologies (Ola) Xander Group RHC Buyout 90 00 Falcon Edge Capital LP, UC- RNT Fund Ecommerce ReNew Power Piramal Capital Power and utilities Expansion/ Growth Debt investment 0 NA 00 NA Capital First Ltd GIC Financial services PIPE 9 9 Bundl Technologies Pvt. Ltd(Swiggy) Accel India, Harmony Partners, Norwest Venture Partners, Bessemer Ecommerce Dodla Dairy TPG Capital Food and Agriculture Walchandnagar Industries Ltd. KKR Industrial products IndoShell Mould Ltd. Piramal Automotive Start-up/ Early Stage Expansion/ Growth Debt investment Debt investment 0 NA 0 NA NA NA Page
Investments Monthly sector cut Investment by Sector US$mn 09,9 0 0 9 9 - - 00,000,00,000,00,000,00 Investment by Sector No. of Deals 9 - - - 0 0 0 0 0 0 0 0 Ecommerce RHC Financial Services Technology Telecom RCP Automotive Power & Utilities Others Education *** RCP Retail & Consumer Products, RHC-Real Estate, Hospitality & Construction, CBP Cement & Building Products Page
Investments Monthly (deal size and type) Deal Size Trend - Value (US$ mn) Deal Type Trend - Value 0 0,9,,9 9 0,0 9 9, 9 0 0 0 9 Deal Size Trend - No of Deals Deal Type Trend - No of Deals 0 0 9 0 9 9 0 9 9 <$0Mn $0Mn - $0Mn $0Mn - $0Mn $0Mn - $00Mn >$00Mn NA Expansion/ Growth Capital PIPE Financing Debt investment Start-up/ Early Stage Buyout Page
Exits US$ bn across deals in 0 recorded US$ billion in exits and was second consecutive month with more than US$ billion recorded in exits. The month recorded a % increase in terms of value and % in terms of volume over 0. Compared to the previous month, while the value remained at par, volume declined by %. Till date, exits in 0 total US$.9 billion, a % jump in terms of value and 0% in terms of volume, compared to the same period last year. As in the previous month, open market operations (with US$ million across deals), emerged as the preferred mode of exit, accounting for % of exits by value and 0% by volume. Till date, open market exits have accounted for 9% of the total value of exits in 0 vs % for the whole of 0. Over the same period, share of strategic sales has fallen to 0% from % in 0. There was one PE backed IPO in 0 (S Chand, a publishing company, primarily in the education space), which saw Everstone exiting.9% stake for US$ million. In 0, till date, the PE backed IPO tally stands at four compared to eight during the same period in 0. Financial Services emerged as the top sector with exits worth US$ million across six deals followed by Healthcare with exits worth US$0 million across three deals. Exits by Sector US$mn (Volume) Exits in Exits by Type US$mn (Volume) Financial Services Healthcare Industrial products Chemicals Real Estate, Education Pharmaceuticals Technology Food and agriculture () () () () 0 () 0 () () 0 () () () () () IPO Open ket Secondary Sale 9 () Strategic NA () Buyback *** RCP Retail & Consumer Products, RHC-Real Estate, Hospitality & Construction, CBP Cement & Building Products Page
Exits Top Exits Top Exits in 0 Company Sector Sellers Buyer Exit Type US$mn Stake (%) Capital First Ltd Financial Services Warburg Pincus GIC Secondary..9 Apollo Hospitals ItzCash Card Ltd Healthcare Financial Services Khazanah Nasional Matrix Partners, Lightspeed Venture NA Open ket.. Ebix Inc Strategic. 0 Syngene International Ltd Healthcare True North NA Open ket.. Agile Electric Sub Assembly Pvt. Ltd. Max Healthcare Institute Ltd. Gumberg India Pvt. Ltd., The North Country Mall S H Kelkar and Company Ltd. Industrial products Healthcare Real Estate, Hospitality & Construction Tata Capital IFC SUN Apollo India Real Estate Fund Padmanabhan Mukund, MD, Igarashi Motors Max India and Life Healthcare Group Virtuous Retail (retail arm of Xander Finance) Strategic..0 Strategic.. Strategic. 0 Chemicals Blackstone NA Open ket.. S Chand and Company Education Everstone NA IPO.. Equitas Holdings Ltd Financial Services DEG NA Open ket.. *** RCP Retail & Consumer Products, RHC-Real Estate, Hospitality & Construction, CBP Cement & Building Products Page 9
Fund Raise 0 recorded US$90 million in fund raise, % and % lower compared to 0 and il 0 respectively. Fund raise plan announcements made during the month stood at US$90 million. Top Fund Raise/Announcements in 0 Status Fund US$m Strategy Remark Raised White Unicorn Ventures 0 RHC Maiden Fund Raised CapAleph 0 Food & Agriculture Announced SAIF Partners 00 sector agnostic Announced Xander Finance 00 RHC Third Fund Page 0
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