PE funding dips 7.7% to $3.44 billion across 260 deals in Jan-Mar

Mumbai: Fund infusion by private equity funds declined almost 8 per cent in the March quarter this year to $3.44 billion across 260 deals, according to industry data.

Though the value of private equity investments declined 7.7 per cent in Q1, the number of deals soared by 44 per cent to 260 from 180 in Q1 of 2020, show the data collated by the London Stock Exchange Group-owned Refinitiv that tracks global financial transactions and market action.

Overall, 2020 saw the highest number of deals since 2010 with 810 private equity deals worth $34.44 billion. Software companies attracted the maximum PE interest in Q1 this year with $1,348 million equity invested compared to internet-specific companies in Q1 of 2020 with $2,053 million equity investment.

Fundraising in Q1 stood at $1,605 million compared to $670 million in Q1 2020, an increase of 139 per cent year-on-year.

The top deals are the $460 million raised by Think & Learn from five funds, followed by Dream11 Fantasy - $266.67 million from two funds, Zomato - $230 million from four PEs, Finnovation Tech $145 million from 6 funds, Stelis Biopharma - $125 million from 5 funds, and Zetwerk - $120 million from five funds, according to Refinitiv data.

Other deals include Resilient Innovations - $108 million from 10 funds, Hella Infra Market - $100 million from seven players, Imagine Marketing - $100 million from one PE player and Ver Se Innovation - $100 million from two funds.

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