Chennai-based companies attract huge investments
Led by the large ticket investment in Star Health Insurance and CAMS, fifteen Chennai-based companies attracted $1.6 billion in Private Equity and Venture Capital (PE-VC) investments during the third quarter of 2018. During the same period last year, seven investments worth $107 million flowed into city based firms.
Companies that raised significant capital during the latest quarter include Sanmar Chemicals ($150 million more from existing investor Fairfax Group); NBFC Five Star Business Credits ($100 million) and SaaS software maker Freshworks ($100 million).
At the national level, Private Equity (PE) investments in the first nine months of 2018 touched $23.7 billion (across 525 deals), up 29% (across 527 deals) when compared to the same period in 2017. Calendar 2017 was the biggest ever year for PE investments in India, recording $23.7 Billion across 704 deals. According to data released by Venture Intelligence, a research service focused on private company financials, transactions and their valuations, PE firms invested a record $9.2 billion (across 154 deals) during the quarter ended September 2018 – up 60% compared to the $5.8 billion (across 146 transactions) in the same period last year.
The investment amount in Q3’18 was 11% higher than the immediate previous quarter (which had recorded the previous highest quarterly investments at $8.3 Billion across 191 transactions). These figures include Venture Capital investments, but exclude PE investments in Real Estate.