Assets under management (AuM) held by private equity and venture capital fund managers based in India totalled $28 billion as of June 2018, representing nearly a threefold increase over a decade ($10 billion).
According to the latest available figures from industry data provider, Preqin, venture capital and growth funds account for the vast majority of assets with $13 billion and $12 billion in AuM respectively.
In addition, 2017 was the best year for fundraising over the past decade with 35 India-based fund closures and an aggregate capital commitment of $3.6 billion. Preqin identified regulatory changes and government support as contributory factors to a strong deals market.
“India is one of the fastest-growing global economies and is on track to surpass the UK to become the fifth-largest economy in the world in the coming months,” Christopher Elvin, head of private equity at Preqin said in a statement.
“Private equity and venture capital have played an integral part in this development: the provision of private capital has spurred the boom in technology start-ups that have characterised the country’s modernisation. The momentum of recent years seems set to continue unabated – investors have a strong appetite for investments in India, and there are a record number of funds in market to cater to that appetite,” added Elvin.
As of January 2019, 125 India-based funds are seeking a combined total of $18 billion investor commitments.
©2019 funds global asia 
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