Tamil Nadu sees 60 private equity and venture capital deals in 2021
The Hindu
About $1.8 billion worth investments made; fintech start-ups make a mark
Private equity and venture capital companies invested around $1.8 billion in Tamil Nadu based firms through 60 deals during 2021. Data collated by Venture Intelligence, a research firm focused on private company financials, transactions and their valuations, shows that in the first quarter of 2021, firms invested $510 million across 11 deals and during the second quarter around $323 million came through 11 deals.
In September and December quarters, around $415 million (19 deals) and $585 million (19 deals) came into State-based firms. In 2020, PE-VC firms invested $690 million through 41 deals in State-based firms.
Arun Natarajan, founder of Venture Intelligence, said: “PE-VC investments in Tamil Nadu-based companies zoomed 166% year-on-year in 2021 to over $1.8 billion (across 60 deals). Fintech start-ups from Chennai like M2P Fintech, CredAvenue and GuardianLink made a strong mark on the radar of Indian and international VC investors during 2021,” Mr. Natarajan said.
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