Private Equity and Venture Capital (PE-VC) firms invested $306 million across 12 deals in Tamil Nadu during the quarter ended March 2020. Last year during the same quarter PE-VC firms had pumped in $326 million in 13 deals, according to data collated by Venture Intelligence, a research service focussed on private company financials, transactions and their valuations. One of the biggest investments for the quarter came into TVS Supply Chain Solutions. The firm raised $100 million from Gateway Partners.
In terms of angel investments, the State saw eight deals in the first three months of 2020 when compared to four deals during the same period last year
“The COVID-19 related lockdown and related stock market mayhem has brought new PE-VC investment activity to a virtual standstill towards the end of the quarter,” noted Arun Natarajan, founder, Venture Intelligence. “Until there is better clarity on the still unfolding health crisis, most investors are likely to focus their energies on existing portfolio companies and be very selective in making new investments,” he added.
At the national level, overall PE-VC firms invested $5.9 billion across 164 deals during the quarter ended March 2020, 36% lower than the $9.2 billion across 249 transactions during the same period last year. During the first quarter of 2020 investments were also 37% lower compared to the immediate previous quarter which had witnessed $9.4billion being invested across 227 transactions.
