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India Based Private Equity Firms

by Louise Maddy

  • 30 Mar 2011
  • PE

Preqin’s extensive research shows there are currently 127 private equity firms located in India. The latest data from the Fund Manager Profiles database shows that collectively, these firms have raised over USD 14 billion in private equity capital over the last 10 years, and have over USD 7 billion available in dry powder.

 The top five fund managers located in India, in order of total capital raised over the last 10 years, are ICICI Venture Funds Management, India Value Fund Advisors, Everstone Capital, Baring Private Equity Partners (India) and Ascent Capital.


ICICI Venture Funds Management is a venture capital firm based in Mumbai. Mumbai is home to half of all private equity managers in India. ICICI Venture Funds Management is a subsidiary of ICICI Bank, one of the largest private sector financial services groups in India. Its portfolio spans multiple industries including information technology, infrastructure, pharmaceuticals, biotechnology, media, retail and real estate. It has raised USD 2.2 billion over the past 10 years and currently has USD 503 million in dry powder.  ICICI is currently raising India Advantage Fund Series 3 fund that invests exclusively in India. The fund held a fourth close of USD 350 million in May 2010 and is targeting USD 400 million overall.

India Value Fund Advisors is an established buyout firm headquartered in Mumbai.  The firm makes control investments in a diverse range of industries such as healthcare, retailing, outsourced services, media and entertainment, and precision engineering. The firm have raised USD 1.3 billion over the past 10 years and currently has an estimated USD 765 million in available dry powder.

Everstone Capital is a venture capital firm that makes minority investments, control transactions and select early stage investments into companies that benefit from domestic consumption within India. The firm also invests in several other sectors including energy and infrastructure services.  It has raised USD 975 million in aggregate capital over the last decade and currently has USD 608 million in dry powder.  Its latest vehicle is the Everstone Capital Partners II which closed in March 2011 on USD 550 million. The fund invests across all industries in India, including domestic consumption and infrastructure.

 

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