Chennai: Private Equity-Venture Capital (PE-VC) firms have invested in 72 deals worth $1.7 billion in Feb 2024, which is an increase by $400 million over the value of investments made in the same month last year. The Jan-Feb period this year witnessed collective investments to the tune of $4.5 billion, a jump by $1 billion when compared with the corresponding period in CY2023 at $3.5 billion, data from research firm Venture Intelligence revealed.The top investment in Feb (CY2024) was led by the National Investment and Infrastructure Fund Ltd (NIIF) in iBus in the communications tech sector at $200 million. It was followed by Actis in Patel Infrastructure HAM Road Assets in the roads infrastructure sector at $181 million. Investments by Mubadala Investment, Avendus PE and Kotak Investment Advisors with the education-focused NBFC Avanse Financial at $133 million stood third. These three were among the five top deals this year, Venture Intelligence said. Also, the number of deals rose from 58 in Feb 2023 to 72 in the same month of the current year (CY2024). Arun Natarajan, founder, Venture Intelligence said, February has seen a good bounce back in terms of PE-VC deals. “It was also heartening to see a marked uptick in the number of VC-type investments during the month, including consumer internet & mobile startups such as AstroTalk and Supertails as well as D2C brands like luggage brand Mokobara raising strong Series A & B rounds,” he told TOI. To a query on whether the value of PE-VC deals will continue to rise this year, he said, “On the back of strong public markets, including IPOs, PE-VC funding in 2024 has begun on a relatively promising note. The “low base” effect of 2023 (where funding levels were down sharply as compared to 2022) will help make the Y-o-Y comparisons more favourable in 2024.”In Jan 2024, Canada-based Brookfield’s $2 billion deal with ATC India resulted in PE-VC investments reaching $2.8 billion. A total number of 71 deals were closed in that month alone, the research firm added.
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