PE/VC inflows double to $7 billion in March

Mumbai: Venture capital/private equity investments doubled in March to $7 billion on an annualised basis, boosted by a spurt in large transactions, says a report.

Exits during the month were 34 percent lower at $465 million involving 13 transactions, a report by consultancy firm EY said Thursday.

March was the best month ever for private equity (PE) and venture capital (VC ) investments, it said, adding that the $7-billion mark in

the month was more than

double of $3 billion in the previous year and over 30 percent higher than the previous high of $5.4 billion clocked in August 2017.

Thirteen large deals of $100 million-plus adding up to $6 billion helped boost the numbers, and Brookfields $1.9 billion buyout of Reliance Industries Ltd (RIL's) East-West Pipeline was the largest deal during the month.

On the back of a busy March, the March quarter has emerged as the best ever quarter for private equity/ venture capital investments, with investments worth $11.4 billion, up 37 percent over the same period a year ago.

The month also recorded highest monthly value and number of buyout deals, aggregating at $2.8 billion across seven deals. Private investment in public equity investments rose to $1.9 billion, but massivley down from $3 billion a year ago.

From a fund raising perspective, the firepower plunged to a low $40 million in March from $1.1 billion a year ago.