PRINT THIS PAGE Private equity firms invest $3.3bn in India in first quarter07/04/2008. Source: AltAssets. 
Private equity firms invested about $3.3bn across 97 deals in India during the quarter ended 31 March 2008, according to Venture Intelligence. The amount was up from the $2.7bn invested during the same period last year, while deal flow was down from 101 deals. The fourth quarter of 2007 saw 131 deals and a total of $5bn invested.
The largest investment reported in Q1 2008 was the $395m raised by Sophia Power Company, part of Indiabulls Group, from LNM India Ventures and Farallon Capital.
Energy and telecoms attracted the most capital, with IT and IT-enabled services continuing to account for the most number of deals, the research found. Other industries that attracted significant capital during the period included manufacturing, healthcare and life sciences, and banking, financial services and insurance.
'Despite the turmoil in the global financial markets, private equity investments during Q1 2008 registered growth over the corresponding period in 2007, thanks to a spurt in deals in the late stage segment which accounted for 60 per cent of the amount invested,' said Arun Natarajan, founder and CEO of Venture Intelligence. 'While the steep decline in public markets is leading Indian companies to adopt a wait-and-watch stance vis-à-vis their fundraising plans, in the medium term, the correction is likely to favour private equity emerging as an attractive alternative.'
Venture Intelligence is a division of Chennai, India-based TSJ Media Pvt.
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