IVCA PRIVATE EQUITY-VENTURE CAPITAL REPORT

Transcription

1 IVCA PRIVATE EQUITY-VENTURE CAPITAL REPORT ADVOCACY J U N E w w w. i vmissionaries c a. i n RESEARCH EDUCATION KONNECT PE/ VC Report Feedback Rohan Parulekar - rohan.parulekar@ivca.in IVCA Membership & Event Sponsorship Aakriti Bamniyal - aakriti@ivca.in Other Queries IVCA Team - info@ivca.in Delhi Office: IVC Association 806, 8th Floor, Akashdeep Building, 26A Barakhamba Road, Connaught Place, New Delhi Mumbai Office: IVC Association One Indiabulls Centre, South Annexe, Tower 2A, 03rd Floor, ISME Ace Senapati Bapat Marg, Elphinstone Road, Mumbai Contact number:

2 TABLE OF CONTENTS Section Page No. 1. Executive Summary 3 2. Private Equity Investments 4 3. Venture Capital Investments 8 4. Exits Angel Investments Investments involving AIFs Appendix & Tables Members and growing

3 EXECUTIVE SUMMARY Private Equity Investments & Exits June 2018 witnesses 42 Private Equity (PE) investments worth about INR 13, 580 Cr ($2 Billion) The largest PE investment announced is the $450 million investment (INR 3, 060 Cr) by GIC and ADIA in Greenko Group IT companies topped the industry table (by value) Delhi tops the chart for most investments in a City Month witnesses 11 PE exits that harvested about INR 11, 110 Cr (about $1.6 Billion) The largest exit is INR 5, 620 Cr ($830 million) exit by Blackstone from Intelenet Tata Opportunities makes a $260 million exit through Varroc Group IPO Venture Capital Investments June 2018 witnesses 25 VC investments worth about INR 948 Cr ($140 million) The largest VC investment is the ~INR 129 Cr ($19 million) Series B investment in SigTuple IT companies top the industry table (by volume & value) Bangalore tops the chart for highest investments in a City Month witnesses 5 VC exits that harvest about INR 1, 395 Cr (about $203 million) Angel Investments Super Angels and Angel Networks make 15 investments (compared to 8 deals in June 2017) The largest investment round involving angel investors, is the investment in SigTuple by Binny Bansal and Samir Sood along with VC investors 3

4 PRIVATE EQUITY INVESTMENTS Private Equity Investments in June 2018: 42 Deals, $2Billion (~ INR 13, 580 Cr) June 2018 witnessed 42 Private Equity (PE) investments worth $2 Billion (about INR 13, 580 Cr) compared to 44 investments worth $828 million (about INR 5, 330 Cr) in June The value of investments increased 155% from the corresponding year-ago period and 50% down compared to the immediate previous month of May 2018 (which registered 52 investments worth $4 Billion or ~INR 27, 230 Cr). Note: The PE investment figures in this Report include Venture Capital (VC) type investments, but exclude PE investments in Real Estate. The largest PE investment announced in June 2018 was the $450 million investment commitment (INR 3, 060 Cr) by GIC and Abu Dhabi Investment Authority in renewable power projects company Greenko Group. (See Appendix for a listing of investments during the month.) 4

5 PRIVATE EQUITY INVESTMENTS IT & ITeS companies, led by the $236 million (INR 1, 600 Cr) investment in insurance marketplace firm Policybazaar, attracted the most funding - at $550 million (INR 3, 720 Cr). Food delivery company Swiggy also raised $210 million (INR 1, 420 Cr) from DST Global, Coatue Managament, Temasek and others. Energy companieswith $540 million (INR 3, 660 Cr) followed closely led by the investment in Greenko Group. Retail comprising of PremjiInvest s INR 1, 700 Cr ($252 million) stake acquisition in Future Retail came in at third. 5

6 PRIVATE EQUITY INVESTMENTS * See Appendix for stage definitions 6

7 PRIVATE EQUITY INVESTMENTS Investments by Industry 7

8 VENTURE CAPITAL INVESTMENTS June 2018 witnessed 25 VC-type investments* worth INR 948 Cr ($140 million), compared to 34 deals (worth INR 863 Cr) in June The largest VC investment announced during the month was the ~INR 129 Cr ($19 million) Series B investment in healthcare analytics company SigTuple led by Accel India and IDG Ventures India. (*See appendix for definitions.) 8

9 VENTURE CAPITAL INVESTMENTS 9

10 PRIVATE EQUITY EXITS June saw 11 PE-VC exits that harvested about INR 11, 116 Cr ($1.6 Billion) - compared to 23 deals that harvested INR 4, 438 Cr ($690 million) in June The largest exit during the month was the INR 5, 620 Cr ($830million) harvest made by Blackstone in Intelenet Global Services, as part of an acquisition by French outsourcing firm Teleperformance. This is the second time Blackstone has invested and exited the company. (See Appendix for a listing of exits during the month.) 10

11 VENTURE CAPITAL EXITS June 2018 witnessed5 VC exits that harvested $203 million (about INR 1, 395 Cr) compared to 3 deals (that harvested $20 million) in June The acquisition of mobile application platform company July Systems by Cisco, provided an exit for the company s long time investors including Sequoia Capital, WestBridge, Saama Capital and others. ANGEL INVESTMENTS In June 2018, Super Angels and Angel Networks made 15investments- compared to the 8 deals in June Top Angel Investments in June 2018 Company Sector Investors Amount($M) SigTuple Data Analytics - Healthcare Binny Bansal, Samir Sood, Others 19 X1 Racing League Sports League (Racing) Jitendra Gupta, Kunal Shah, Others 14.8 Wicked Ride E-Commerce (Bike Rentals) Vishal Pereira, Raghunandan G, Others 9.2 Locus SaaS - Logistics Management Growx Ventures, Others 4 *Includes share of co-investing Seed/VC investors 11

12 INVESTMENTS INVOLVING AIFs Deals involving PE-VC firms which have an Alternative Investment Funds (AIF) vehicle. Company Sector Investors Amount ($M) Future Retail Discount Retail PremjiInvest 252 PolicyBazaar Online Services (Insurance Portal) India Value Fund, Softbank Corp, Info Edge, Others Sunbeam Auto Auto Components Kedaara Capital 127 Surya Child Care Annapurna Microfinance Clinics (Child Care, Maternity Care) Quantum Funds, JS Capital, SeaLink Capital, Others Microfinance Oman India Joint Investment Fund 23 Tynor Orthotics Medical Devices (Orthotics) Lighthouse, Others 21 SigTuple Enterprise Software (Saas - Data Analytics - Healthcare) IDG Ventures India, Accel India, Endiya Partners, Axilor Ventures, Pi Ventures, Others eshakti.com Online Services (Fashion Retail) Paragon Partners 11 Wonderchef Home Appliances CoinTribe Locus Consumer Durables (Kitchenware) Amicus Capital 10.4 Online Services (Marketplace - SME Loans) Enterprise Software (Logistics Management) Sabre Capital, Others 10 Blume Ventures, Exfinity Fund, Recruit Strategic Partners, Beenext, Pi Ventures, rocketship.vc, Others Fullife Healthcare Pharmaceuticals Sixth Sense Ventures 2 CredRight Sqrrl Inntot Technologies CNB Technologies Pristine Logistics and Infra Projects Zumutor Biologics Online Services (Marketplace - SME Loans) Consumer Apps - Personal Finance - Mutual Funds Semiconductors (Software Defined Radio) Enterprise Software (SaaS - Logistics - Container Yard Management) Accion International, YourNest, Others 1.3 Equanimity Investments 1 Unicorn India Ventures 0.5 KITVEN Logistics Services IDFC Alternatives NA Biotech KITVEN NA 19 4 NA 12

13 Appendix-PE Investments in June 2018 Company Sector Investors Greenko Group Renewable Power Projects (Multiple Sources) Amount ($M) GIC, ADIA 450 Future Retail Discount Retail PremjiInvest 252 PolicyBazaar Swiggy.com Online Services (Insurance Portal) Online Services (Food delivery services) India Value Fund, Softbank Corp, Info Edge, Others DST Global, Coatue Management, Naspers, Others Sunbeam Auto Auto Components Kedaara Capital 127 KIMS Hospital Hospital General Atlantic 125 Archean Group-2 Industrial Salt, Granite India Resurgent Fund 119 India Infoline Wealth Wealth Management General Atlantic, Steadview, Others 103 Cytecare Clinics (Cancer) Goldman Sachs 31 Surya Child Care Annapurna Microfinance Clinics (Child Care, Maternity Care) Quantum Funds, JS Capital, SeaLink Capital, Others Microfinance Oman India Joint Investment Fund 23 Aye Finance NBFC SAIF, Google Capital, LGT Venture Philanthropy 21.7 Tynor Orthotics Medical Devices (Orthotics) Lighthouse, Others 21 SigTuple Drip Capital X1 Racing League Enterprise Software (Saas - Data Analytics - Healthcare) NBFC (SME Loans - Trade Finance, Factoring) IDG Ventures India, Accel India, Endiya Partners, Axilor Ventures, Pi Ventures, Others Sequoia Capital India, Accel India, Others 15 Sports League (Racing) White Unicorn Ventures, Others 14.8 IndiQube Co-Working Space WestBridge, Others 14.6 Meesho M-Commerce - Consumer Shopping Sequoia Capital India, SAIF, Others 11.5 eshakti.com Online Services (Fashion Retail) Paragon Partners 11 Wonderchef Home Appliances CoinTribe Consumer Durables (Kitchenware) Amicus Capital 10.4 Online Services (Marketplace - SME Loans) Sabre Capital, Others 10 KajariaBathware Sanitaryware WestBridge 9.5 Wicked Ride E-Commerce (Bike Rentals) Sequoia Capital India, Accel India, Others 9.18 Network Intelligence Locus SMECorner IT Products & Services (Security) Helix Investments 4.9 Enterprise Software (Logistics Management) Online Services (Marketplace - SME Loans) Blume Ventures, Exfinity Fund, Recruit Strategic Partners, Beenext, Pi Ventures, rocketship.vc, Others Accion International, GE Capital, DGGF, Others 3.3 DailyNinja M-Commerce (Groceries) Sequoia Capital India, Saama Capital 3 Fullife Healthcare Pharmaceuticals Sixth Sense Ventures

14 Company Sector Investors Elucidata CredRight RentSher Sqrrl Inntot Technologies Nivesh.com NirogStreet CNB Technologies Pristine Logistics and Infra Projects Zumutor Biologics Enterprise Software (Analytics - Drug Discovery) Online Services (Marketplace - SME Loans) E-Commerce (Marketplace - Rentals) Consumer Apps - Personal Finance - Mutual Funds Semiconductors (Software Defined Radio) Online Services (Marketplace - Mutual Funds) Online Services (Marketplace - Appointments - Doctors - Ayurveda) Enterprise Software (SaaS - Logistics - Container Yard Management) Amount ($M) Hyperplane VC, Others 1.7 Accion International, YourNest, Others 1.3 Shorooq Investments, Others 1.1 Equanimity Investments 1 Unicorn India Ventures 0.5 Windrose Capital, Others 0.44 Spiral Ventures, Others 0.3 KITVEN Logistics Services IDFC Alternatives NA Biotech KITVEN NA Fortum India Renewable Power Projects (Solar) UK Climate Investments, Others NA Infinite Uptime IT Products (IoT - Industrial) IIML, Mayfield, GSR Ventures NA Purple Style Labs Zoctr Health E-Commerce - Fashion Apparel - Women Mobile VAS (Consumer Apps - Aggregator - In-Home Care) Astarc Ventures NB Ventures, Others NA NA NA 14

15 Appendix-PE Exits in June 2018 Company Sector Exiting Investor Acquirer Intelenet Global Services Varroc Group KIMS Hospital Sai Life Sciences Ramky Enviro Engineers Surya Child Care Torrent Pharmace uticals Annapurna Microfinan ce Chillr Cube26 July Systems Amount ($M) BPO Blackstone Teleperformance 830 Auto Components Tata Opportunities Fund IPO 260 Hospitals ICICI Venture General Atlantic 125 CRO Tata Capital Growth Fund, Tata Capital Healthcare Fund TPG Capital 105 Waste Managemen t Clinics (Child Care, Maternity Care) Pharmaceuti cals Microfinance Mobile VAS (Payments) Mobile VAS (App Developmen t (Services, Products) Mobile VAS IIML, SCI Asia KKR 100 OrbiMed ChrysCapital SIDBI VC, Incofin Sequoia Capital India, Blume Ventures, Uniqorn Ventures SeaLink Capital, Quantum Funds, JS Capital and others Open Market Transaction Oman India Joint Investment Fund Truecaller Tiger Global, Flipkart Paytm NA Sequoia Capital India, Galleon Partners, Intel Capital, Acer Technology Ventures, JumpStartUp, Footprint Ventures, Charles River Ventures, NeoCarta, Motorola Ventures, Saama Capital, Updata Partners, WestBridge Cisco NA NA 15

16 Appendix: Definitions of Stages-of-company-development used: Venture Capital (Early Stage) 1. First / Second Round of institutional investments into companies that are: 2. Less than five years old, AND 3. Not part of a larger business group, AND 4. Investment amount is less than $20 M Venture Capital (Growth Stage): Growth-PE: Late Stage: 1. Third / Fourth Round funding of institutional investments OR 2. First/Second Round of institutional investments for companies that are >5 years old and <10 years old OR spin-outs from larger businesses, AND 3. Investment amount is less than $20 M 1. First-to-Fourth Round Investments >$20 M into companies <10 years old, OR 2. Fifth / Sixth rounds of institutional investments into companies <10 years old 1. Investment into companies that are over 10 years old, OR 2. Seventh or later rounds of institutional investments PIPEs: 1. PE investments in publicly-listed companies via preferential allotments / private placements, 2. Acquisition of shares by PE firms via the secondary market Buyout: 1. Acquisition of controlling stake via purchase of stakes of existing shareholders 16

17 Knowledge Partner Note: This report aims to provide a snapshot of the transaction activity for the corresponding period with data available at the time of its creation. Please refer to Venture Intelligence to access the latest and most accurate data for your internal presentations and other requirements. This report is meant solely for informational purposes, not for trading purposes or advice. IVCA and Venture Intelligence are not responsible for decisions, damages or other losses resulting from the use of the Information. (C) TSJ Media Pvt Ltd. Any unauthorized distribution of this report or its contents is a violation of copyright law. Delhi Office: IVC Association 806, 8th Floor, Akashdeep Building, 26A Barakhamba Road, Connaught Place, New Delhi Mumbai Office: IVC Association One Indiabulls Centre, South Annexe, Tower 2A, 03rd Floor, ISME Ace Senapati Bapat Marg, Elphinstone Road, Mumbai Contact number: info@ivca.in