Equity Firm General Atlantic To Invest $2 Billion In India, S Asia
NDTV
The market for startups, especially in India, is going through a rough patch. But a global private equity firm General Atlantic plans to plough $2 billion into India and Southeast Asia
Global private equity firm General Atlantic plans to plough $2 billion into India and Southeast Asia over the next two years after falling valuations made the region's startups more attractive, a senior executive told Reuters.
General Atlantic is in early-stage investment talks with about 15 companies in sectors including technology, financial services, retail and consumer, Sandeep Naik, the head of its business in India and Southeast Asia, said in an interview.
The market for startups, especially in India, is going through a rough patch. After raising a record $35 billion in 2021, founders are struggling to attract cash, sparking fears of lower valuations and forcing some to cut jobs.
After investing just $190 million in Indian startups in 2021, its lowest ever annual figure, General Atlantic is now ready to loosen its purse strings, Naik said in an interview at the World Economic Forum in the Swiss ski resort of Davos.
