oct ober 201 8 - ivca · 2018-11-18 · 3 private equity investments & exits october 2018...

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Section Page No.

1. Executive Summary 3

2. Private Equity Investments 4

3. Venture Capital Investments 9

4. Exits 10

5. Angel Investments 11

6. Investments involving AIFs 12

7. Appendix & Tables 14

TABLE OF CONTENTS

145 + Members and growing…

3

Private Equity Investments & Exits

October 2018 witnessed 50 Private Equity (PE) investments worth about INR 11,465 Cr ($1.6 Billion)

The largest PE investment announced was the $210 million investment by Steadview Capital and others in publicly-listed financial services company Indiabulls Ventures

Banking and Financial Services companies topped the industry table (by value) Delhi topped the chart for most investments in a city (by value) Month witnessed 10 PE exits that harvested about INR 5,891 Cr ($801million) The largest exit during the month was the INR 3,560 Cr ($483 million) part exit by

Stanchart PE, JM Financial and SBI-Macquarie from GMR Airports Holdings

Venture Capital Investments

October 2018 witnessed 23 VC investments worth about INR 669 Cr ($91 million) The largest VC investment was the INR 134.5 Cr ($18 million) Series C investment

in test preparation company Toppr IT companies topped the industry table (by volume & value) Mumbai, Bangalore and Delhi topped the chart for highest investments in a city Month witnessed 6 VC exits that harvested about INR 364 Cr ($49 million)

Angel Investments

Super Angels and Angel Networks made 11 investments (compared to 22 deals in October 2017)

The largest angel investment involving angel investors was the $5 million investment by Sunil Kalra and Arun Venkatachalam along with new VC investors in e-pharmacy Medikabazaar

EXECUTIVE SUMMARY

PR

RIVATE EQ

Priva

October 20111,465 Cr) c2017. The vago but dec2018 (which Note: The investments

The largest million) invefinancial serfor a listing

QUITY INVE

ate Equity I

18 witnessedcompared tovalue of invecreased by 6

h registered 4

PE investms, but exclud

PE investmestment by rvices compaof investme

ESTMENTS

nvestments

d 50 Private o 55 investmestments inc60% compa48 investme

ment figurese PE investm

ment announSteadview Cany Indiabunts during th

s in October

Equity (PE) ments worth $creased by 5red to the ints worth $3

in this Rements in Rea

nced in OctCapital, Tamalls Ventureshe month.)

r 2018: 50 D

investments$1 Billion (a

51% from thimmediate p3.9 Billion or

eport includl Estate.

tober 2018 arind Capitas via prefere

Deals, $1.6 B

s worth $1.6 bout INR 6,7

he corresponprevious mor ~INR 28,01

de Venture

was the INal and otherential allotme

Billion (~ IN

Billion (abo740 Cr) in Onding periodonth of Sept15 Cr).

Capital (VC

NR 1,539 Cr s in publiclyent. (See Ap

NR 11, 465 C

4

out INROctoberd year-tember

C) type

($210 y-listed pendix

Cr)

PR

RIVATE EQ

BFSI compaled by the inJM Financia Energy comsolar powerplacement d ManufacturiGerdau’s In

QUITY INVE

nies toppednvestment inl Credit Solu

panies with r producer du Québec (C

ing companndia operati

ESTMENTS

the industryn Indiabulls

utions.

$340 millionAzure PowCDPQ).

ies came thons for $120

y chart with s Ventures,

n stood secower by Cana

ird with $290 million.

$375 millionfollowed by

ond led by tadian pensi

94 million le

n (INR 2,759y the $93 mi

the $360 mion fund Ca

d by ADV P

9 Cr) across 4llion investm

llion investmaisse de dé

Partners’ buy

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ment in pôt et

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* See Ap

RIVATE EQ

pendix for st

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ESTMENTS

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PR

Inv

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vestments b

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by Industry

ESTMENTS

7

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ENTURE CA

October 201compared tvolume of iperiod last 134.5 Cr($18(See Append

APITAL INV

18 witnessedto 40 deals nvestments year. The la8 million) Sedix for defin

VESTMENTS

d 23 VC-typworth$98 m decreased rgest VC invries C investitions.)

S

e investmenmillion (INR by 7% and vestment antment in test

nts* worth $639 Cr) in 43% respec

nnounced dt preparation

91 million (IOctober 201ctively compuring the mn company T

INR 669 Cr),17. The valupared to the

month was thToppr.

8

, down ue and e samehe INR

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ENTURE CAAPITAL INVVESTMENTSS

9

PR

RIVATE EQ

October 201to 23 deals t The largest Stanchart PE(See Append

QUITY EXIT

18 saw 10 PEthat harveste

exit duringE, JM Financdix for a listi

TS

E-VC exits thed INR 4,969

g the monthcial and SBI-ng of exits d

hat harvested9 Cr ($763 m

h was the IMacquarie fduring the m

d INR 5,891 million) in Oc

INR 3,560 Cfrom GMR A

month.)

Cr ($801 milctober 2017.

Cr ($483 miAirports Ho

llion) - comp

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MedikaBaz

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APITAL EXI

ESTMENTS

ents in Octo

or

ommerce - Mar

G (Pet Care)

rprise Software

esting Seed/VC

ITS

ober 2018

rketplace - B2B

e (Utility - Video

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o Editing)

OctobharvecompOctob

The l$14 mCapitHR teGlobareturn

Innto

Investors

Arun VenkatKalra,Others

Ketan Shah,SKumar,ChaitDesai,Japan

LG ChandrasCapital,Hyde

ber 2018 ested $49 pared to 1 deber 2017.

argest VC emillion (INR al, Blume Veech startup al HR consuns.

n October 2networks mao 22 deals in

tachalam,Sunil

Sunil Agarwal,Nanya Desai,KusVyas

sekhar,SRI erabad Angels,O

witnessed million (ab

eal (that har

exit during 104 Cr) comentures and Mettl via lting firm M

2018, super ade 11 invesn October 20

Am(

Naval Bir shal

Others

6 VC exbout INR rvested $2 m

the month mplete exit by

M&S Partna strategic

Mercer, realiz

angels andstments com018.

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mount($M)

5

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12

Deals involving PE-VC firms which have an Alternative Investment Funds (AIF) vehicle.

Company Sector Investors Amount

($M) Sesa Care Personal Care TrueNorth 156

Happy Forgings

Auto Components Motilal Oswal 27

Duroflex Consumer Durables (Mattresses)

Lighthouse 22

Toppr Test Preparation Axis Capital Partners, Kaizen PE, Helion Ventures, Eight Roads Ventures, SAIF, Others

18

Collectabillia

Online Services (E-Commerce - Consumer Shopping - Merchandised Goods - Sports)

Alteria Capital,NB Ventures, Accel USA, Accel India 14

KOOH Sports

Sports Education Gaja Capital 10

Healthkart Online Services (E-Commerce - Consumer Shopping - Pharmaceuticals)

IIFL VC, Sequoia Capital India, Others 10

Sukkhi Fashion Jewellery

E-Commerce - Shopping - Jewelry

Duane Park, Carpediem Capital Partners 7

MedikaBazaar

E-Commerce - Marketplace - B2B - Healthcare

Mitsui Sumitomo Insurance Venture Capital, Kois Invest, Healthquad, Rebright Partners, Others

5

Hiver Enterprise Software (Collaboration - Email)

Kae Capital,Kalaari Capital 4

Truebil Online Services (Marketplace - Pre-Owned Cars)

Shunwei Capital, Tekton Ventures, Kae Capital, Inventus Capital Partners, Kalaari Capital

3

Worxogo Enterprise Software (SaaS –HR) Ideaspring,Inventus Capital Partners 2

Eupheus Learning

Content Services, Educational Kits

Sixth Sense Ventures 1.25

LetsMD Online Services (Marketplace - Appointments - Doctors,

WaterBridge Ventures, Orios VP, SRI Capital 1

INVESTMENTS INVOLVING AIFs

13

Diagnostic Tests)

AVG Logistics

Logistics Services Sixth Sense Ventures 0.1

Essel Infra (Transmission Projects)

EPC (Transmission) Edelweiss Private Equity N.A

Clensta Personal Care (Waterless) IAN Fund, Others N.A

FarmersFZ Online Services (Marketplace - Fruits and Vegetables)

IAN Fund, Others N.A

14

Appendix- PE-VC Investments in October 2018


($M) Indiabulls Ventures

Broking Steadview, Others 210

Azure Power Renewable Power Projects (Solar) CDPQ 185

Sesa Care Personal Care TrueNorth 156

Gerdau Steel India

Metals & Alloys (Steel) ADV Partners 120

JM Financial Credit Solutions

NBFC (Real Estate) Falcon Edge Capital, GIC, Others 93

Gemini Edibles & Fats

Edible Oils Proterra Investment Partners 87

Cleartax.in Online Services (Utility - Tax Filing) Composite Capital 50

Ess Kay Auto Finance

NBFC (Auto Finance) Evolvence India, TPG Growth, Norwest 42

IndWealth.in Online Services - Wealth Management Steadview 30

Veritas Finance

NBFC Norwest 30

BlackBuck Online Services (Marketplace - Trucks - Inter City)

Sands Capital, Accel India, Sequoia Capital India

27

Byjus Classes Test Preparation General Atlantic 27

Happy Forgings

Auto Components Motilal Oswal 27

Duroflex Consumer Durables (Mattresses) Lighthouse 22

Strides Consumer

Pharmaceuticals ICP Investment Advisors 20


18

Collectabillia Online Services (E-Commerce - Consumer Shopping - Merchandised

Alteria Capital, NB Ventures, Accel USA, Accel India

14

15


($M) Goods - Sports)

LetsTransport Online Services (Aggergator - Trucks) Fosun Group, Others 12

KOOH Sports Sports Education Gaja Capital 10

Healthkart Online Services (E-Commerce - Consumer Shopping - Pharmaceuticals)

IIFL VC, Sequoia Capital India, Others 10

myGate IT Products (Security Devices) Prime Venture Partners 9

Grover Zampa

Liquor (Wine) VisVires Capital, Others 8


E-Commerce - Shopping - Jewelry Duane Park, Carpediem Capital Partners 7

Lucideus IT Services (Cyber Security) JC2 Ventures 5

MedikaBazaar E-Commerce - Marketplace - B2B - Healthcare


5

Bajaj Corp Personal Care SAIF 5


Kae Capital, Kalaari Capital 4

Innov8 Co-Working Space Credence Family Office, Others 4



3

Worxogo Enterprise Software (SaaS - HR) Ideaspring, Inventus Capital Partners 2

Solara Active Pharma

Pharmaceuticals HBM Healthcare Investments 2

Cube Wealth Consumer App - BFSI - Wealth Management

Asuka, Beenext, Others 2

Eupheus Learning

Content Services, Educational Kits Sixth Sense Ventures 1.25

Kredily Enterprise Software (SaaS - HR) Fosun Group 1

LetsMD Online Services (Marketplace - WaterBridge Ventures, Orios VP, SRI Capital 1

16


($M) Appointments - Doctors, Diagnostic Tests)

Mylo App Consumer App (Community - Parenting) Fosun Group 1

Perk Finance Online Services (Lending - Personal Loans)

Fosun Group 1

VideoKen Enterprise Software (Utility - Video Editing)

SRI Capital, Others 1

AVG Logistics Logistics Services Sixth Sense Ventures 0.1

Manjushree Technopack

Packaging (Plastic Containers) Advent International N.A

SolarArise Renewable Power Projects (Solar) ThomasLloyd N.A

Essel Infra (Asset Sale)

EPC (Transmission) Edelweiss Private Equity N.A

PLG Photovoltaic

Renewable Power Projects (Solar) Sindicatum N.A

Capillary Technologies

Enterprise Software (Retail - Loyalty Program)

Warburg Pincus N.A

Faasos E-Commerce - Consumer Shopping - Food Ordering

Sistema Asia Fund, Lightbox, Ru-Net Holdings, Evolvence India, Sequoia Capital India

N.A




Hospals Medical Tourism Spiral Ventures N.A

Medimetry Online Services (Healthcare - Disease Management)

3737 North Capital N.A

HoloSuit IT Products (Hardware - Virtual Reality) YouWeCan Ventures N.A

17

Appendix- VC Investments in October 2018


($M)


18

LetsTransport Online Services (Aggergator - Trucks)

Fosun Group, Others 12

KOOH Sports Sports Education Gaja Capital 10

myGate IT Products (Security Devices) Prime Venture Partners 9


E-Commerce - Shopping - Jewelry Duane Park, Carpediem Capital Partners 7

Lucideus IT Services (Cyber Security) JC2 Ventures 5

MedikaBazaar E-Commerce - Marketplace - B2B - Healthcare


5


Kae Capital, Kalaari Capital 4

Innov8 Co-Working Space Credence Family Office, Others 4



3

Worxogo Enterprise Software (SaaS - HR) Ideaspring, Inventus Capital Partners 2

Cube Wealth Consumer App - BFSI - Wealth Management

Asuka, Beenext, Others 2

Eupheus Learning

Content Services, Educational Kits Sixth Sense Ventures 1.25

Kredily Enterprise Software (SaaS - HR) Fosun Group 1

LetsMD Online Services (Marketplace - Appointments - Doctors, Diagnostic Tests)

WaterBridge Ventures, Orios VP, SRI Capital 1

Mylo App Consumer App (Community - Parenting)

Fosun Group 1

Perk Finance Online Services (Lending - Personal Loans)

Fosun Group 1

VideoKen Enterprise Software (Utility - Video Editing)

SRI Capital, Others 1

18


($M)




Hospals Medical Tourism Spiral Ventures N.A

Medimetry Online Services (Healthcare - Disease Management)

3737 North Capital N.A

HoloSuit IT Products (Hardware - Virtual Reality)

YouWeCan Ventures N.A

Appendix- PE Exits in October 2018

Company Sector Exiting Investor Acquirer/Exit Route

Amount ($M)

GMR Airports Holding

Aviation (Airports) StanChart PE, JM Financial, SBI-Macquarie

Company 483

Aavas Financiers

NBFC (Housing Finance) Partners Group, Kedaara Capital IPO 169

Mettl Online Services (HR Services) Kalaari Capital, Blume Ventures, M&S Partners

Mercer 14

Sharechat Social Networking India Quotient Hillhouse Capital

7

StyleCraze Online Services (Content - Beauty & Wellness)

Ventureast Tenet Istyle 3

Betaout Enterprise Software (SaaS - E-Commerce Marketing)

Beenos Partners, Grace Capital Ventures, East Ventures

Bluecore N.A

Holachef.com E-Commerce - Food Ordering Kalaari Capital, SIDBI VC, India Quotient, Ratan Tata, InnoVen Capital

FoodPanda

N.A

KOOH Sports Sports Education Faering Capital Gaja Capital

N.A

Manjushree Technopack

Packaging (Plastic Containers) Kedaara Capital Advent International

N.A

Skeiron Renewable

Renewable Power Projects (Wind)

Olympus Capital, Asia Climate Partners Greenko Energy

N.A

19

Appendix- VC Exits in October 2018

Company Sector Exiting Investor Acquirer/Exit Route

Amount ($M)

Mettl Online Services (HR Services) Kalaari Capital, Blume Ventures, M&S Partners

Mercer 14

Sharechat Social Networking India Quotient Hillhouse Capital

7

StyleCraze Online Services (Content - Beauty & Wellness)

Ventureast Tenet Istyle 3

Betaout Enterprise Software (SaaS - E-Commerce Marketing)

Beenos Partners, Grace Capital Ventures, East Ventures

Bluecore N.A

Holachef.com

E-Commerce - Food Ordering

Kalaari Capital, SIDBI VC, India Quotient, Ratan Tata, InnoVen Capital

FoodPanda N.A

KOOH Sports

Sports Education Faering Capital Gaja Capital

N.A

20

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):

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

Growth-PE:

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

Late Stage:

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

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oct ober 201 8 - ivca · 2018-11-18 · 3 private equity investments & exits october 2018...

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