 "Fintechs in the country have grown in the last decade, both in the number of entities and scale. The key growth sectors have been payments, credit, insurance and wealth management, fuelled by angel investors, venture capital (VC) and private equity.")
Private equity and venture capital (PE/VC) funds invested US$ 4 billion in November, which was 156 per cent higher than the year-ago period but lower about 15 per cent compared with the preceding month, a report said on Wednesday.
The month saw 87 deals -- 47 per cent higher than the 59 transactions in November 2023, as per the report by industry lobby grouping IVCA and consultancy firm EY.
"While 2024 had started off on a strong note, geopolitical tensions, uncertainty over US elections outcome, and inflation weighed on the markets, as did the bid-ask spread between seller expectations and buyer valuations," the consultancy firm's partner Vivek Soni said.
Soni said pure-play PE/VC investments in November totalled US$ 3.5 billion in November, a 297 per cent increase compared to the US$ 873 million in November 2023 and 27 per cent higher than the US$ 2.7 billion in October 2024.
The real estate and infrastructure asset class declined by a fifth when compared to the year-ago period to US$ 566 million in November 2024, the report said.
Buyout investments emerged as the leading deal type in November at US$ 1.6 billion, followed by start-up investments at US$ 1.1 billion, it said.
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 "Rs, Rupee, Indian Currency, 500 Rs")
 "(From left) Saurabh Tiwari, CTO, PolicyBazaar; Ashish Sehdev, VP & Head, APAC Everest Group; Srikanth Subramanian, MD & CEO, Angel One Wealth; Girish Krishna, Director - Payments and Merchant Services, Amazon Pay India")
From a sectoral perspective, industrial products led with US$ 1 billion in PE/VC investments in November, followed by financial services and e-commerce at US$ 723 million and US$ 550 million, respectively.
The month recorded 15 exits worth US$ 3.7 billion, compared to US$ 1.2 billion across 22 exits in November 2023, the report said.
Total fundraises in November 2024 reached US$ 1.1 billion across eight funds, compared to US$ 401 million raised across six funds in November 2023.
Total fundraises increased to US$ 1.1 billion across eight funds, compared to US$ 401 million raised across six funds in November 2023, it said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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