February continued to witness robust PE deal activity in India, all though the amount of money invested dropped compared to January. 53 deals were reported in Feb’15, compared to 56 in the previous month, and 42 in February. In the first 2 months of 2015, 109 deals have been reported, as compared to 86 in the first 2 months of 2014. Aggregate investment amount reported in Feb’15 was $696m, a sharp growth over $337m reported in Feb’14. In Jan-Feb’15, $2.1b of investment has been reported, as compared to a $534m in Jan-Feb’14. The sectoral trends persist. Internet related businesses continue to attract VC/PE money. As many as 17 transactions were internet-driven business models. In value terms, though, the largest internet transaction was $26m, while transactions in real economy sectors of Healthcare, and Real Estate easily topped that. TPG Capital’s $146m investment in hospital chain Manipal Health Enterprises was the largest transaction of Feb’14.

1. www.indiabusinessreports.com
VC/PE deals in India – Feb 2015
Sector: Venture Capital (BFSI)
Feb 2015

2. 53 deals reported in Feb’15
www.indiabusinessreports.com 2VC/PE investments in India
44
42
47
49
24
50
40
35
64
59
52
50
59
53
JAN-14 FEB-14 MAR-14 APR-14 MAY-14 JUN-14 JUL-14 AUG-14 SEP-14 OCT-14 NOV-14 DEC-14 JAN-15 FEB-15
NO OF DEALS
Source: India Business Reports

3. $696 million in disclosed amount*
www.indiabusinessreports.com 3VC/PE investments in India
*Amount invested available only for 45deals, 8 deals chose not to disclose details Source: India Business Reports
-
200
400
600
800
1,000
1,200
1,400
1,600
Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15
Amount ($ million)

4. 23% investments were Angel/Early stage; rest Growth/Late stage
02-03-2015 4VC/PE investments in India
Feb'15
Angel/Early Growth/Late
Feb'14
Angel/Early Growth/Late
TTM
Angel/Early Growth/Late
Source: India Business Reports

5. Internet related businesses attract maximum deals
www.indiabusinessreports.com 5VC/PE investments in India
Sectors Feb'15 Feb'14 TTM
Internet 17 6 108
IT/ITES 7 8 97
Healthcare 5 5 53
Media & Entertainment 3 5 42
BFSI 3 4 52
Real Estate SPVs 5 2 45
Education 0 2 24
Food & Beverages 3 1 27
Others 10 9 130
 Internet related businesses continues to
attract maximum VC/PE interest.
 As many as a third of all transactions
were targeted towards e-comm or other
types of internet driven businesses.
 IT/ITES businesses attracted 7 deals, while
healthcare, media & entertainment and
BFSI remained popular
Source: India Business Reports

6. Top 10 transactions of Feb’15
Target Investor (s) Amount ($m) Industry
Manipal Health Enterprises TPG Capital 146 Healthcare/Pharma
Assetz Property Equis Funds Group 116 Real Estate
Manthan Software Services
Temasek Holdings, Norwest
Venture Partners 60 IT/ITES
Jain Housing and Construction GIC Pvt Ltd 38 Real Estate
Adarsh Developers
Piramal Fund Management,
Aditya Birla PE 33 Real Estate
Practo Technologies Sequoia Capital, Matrix Partners 30 IT/ITES
Firstcry.com Valiant Capital Partners 26 Internet
PC Jeweller Limited Creador Advisors 23 Gems & Jewellary
Faaso's Food Services Pvt
Lightbox Ventures, Sequoia
Capital 20 Food & Beverage
Ipca Laboratories ChrysCapital 20 Healthcare/Pharma
www.indiabusinessreports.com 6VC/PE investments in India
Source: India Business Reports, internet

7. Disclaimer
www.indiabusinessreports.com 7
Copyright© 2015 India Business Reports
• All rights reserved. No part of this publication may be reproduced or utilized, stored in a retrieval system, or transmitted in any form or by any
means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of India Business Reports (“IBR”)
Legal Notices and Disclaimer
• None of IBR, its partners, employees, affiliates, representatives or advisors make any representation or warranty, expressed or implied, as to the
accuracy or completeness of any of the information contained herein, including any opinion or any other written or oral communication
transmitted or made available. Each recipient of such information expressly disclaims any and all liability relating to or resulting from the use of
such information and communications by a recipient or any of its affiliates, advisors or representatives. In particular, no representation or
warranty is given as to the achievement or reasonableness of any future projections, estimates or statements about the future prospects of any of
the companies.
• This document is for the use of the persons who receive it directly from IBR. Recipients agree that all of the information contained in it is of a
confidential nature, and that they will not, directly or indirectly, disclose any such information without the prior written consent of IBR.
Confidentiality
• In consideration of you receiving a copy of this document, you agree to keep confidential the contents of this document and shall not, without the
prior written approval India Business Reports (“IBR”) disclose to any person the whole or any part of the information contained in, or associated
with this document.
VC/PE investments in India

8. Thank You
reports@indiabusinessreports.com
www.indiabusinessreports.com VC/PE investments in India