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Chennai: Private Equity-Venture Capital (PE-VC) firms continued their declining streak in investments for the fourth consecutive month this year when compared with 2023. The month (May 2024) recorded investments of $3.2 billion, down by $700 million, against $3.9 billion in May last year. On a YTD basis, the PE-VC firms invested $11.5 billion between January and May in CY2024, a significant drop by $4.7 billion when compared with the corresponding period last year (CY2023) at $16.2 billion.However, investments continued to witness a month-on-month rise this year from $1.7 billion in Feb to $1.8 billion and $1.9 billion in March and April, respectively, data released by Venture Intelligence on Friday revealed. About 80 deals took place in May. Of this, nine were mega deals valuing more than $100 million. Acquisition of medical device firm Healthium Medtech by global investment firm KKR with an investment of $840 million was the largest deal in May. It was followed by US private equity major Warburg Pincus acquiring Shriram Housing Finance with an investment of $554 million. “The investments and volumes are better if it is compared on a month-on-month basis since January 2024. The Healthium-KKR and Shriram Housing Finance-Warburg Pincus mega deals show the confidence of international investors this close to national election results. Unicorn startups like Meesho (following Udaan and others earlier in the year) are also starting to attract new funding points to a recovery in late stage tech financing, which came to an almost standstill in 2022-2023,” Arun Natarajan, founder, Venture Intelligence told TOI.
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