New Delhi, June 5 -- Private equity (PE) and venture capital (VC) deal activity weakened slightly in the five-day period ending June 5, though the aggregate amount raised by companies rebounded sharply, data collated by VCCircle showed.
During the week, the total number of deals fell to 19 from 21 in the previous week. However, the aggregate value of PE-VC transactions more than quadrupled to over $263 million (Rs 2,502 crore).
Green energy, quick-commerce, and cybersecurity saw some of the largest transactions, although no deal exceeded the $55 million mark.
The biggest transaction was in the renewable energy space, where International Finance Corporation (IFC), Siemens Financial Services and Fullerton Carbon Action Fund announced a combined investment of close to $105 million in Hygenco Green Energies Private Ltd.
The next significant deal was in the quick-commerce space, with FirstClub raising $55 million in a Series B round, led by domestic VC firm Peak XV Partners and Belgian investor Sofina. The round reflected strong investor interest in the quick-commerce platform.
Other sizeable deals, ranging from $10 million to $30 million, included AI security startup Innefu Labs' capital raise from Panthera Growth Partners; Nexus Venture Partners and Rainmatter's investment in sportswear maker Agilitas Sports; electric vehicle maker Simple Energy's equity raise led by the Arokiaswamy Velumani family office; and AI video-generation startup TrueFan AI's raise from Baring Private Equity Partners India and Z3 Partners.
Among early-stage deals, WeRize, Aquapulse, Phab, and ProLearn raised capital from Sony Innovation Fund, NABVENTURES, OTP Ventures, Chona Family Office, and BEENEXT, respectively.
On the M&A front, deal activity remained unchanged at four deals. However, two big-ticket deals boosted overall deal value.
The most significant takeover this week was in the renewables space: Noida-based Inox Clean Energy Ltd agreed to acquire the Indian renewable energy platform of Singapore-headquartered Vena Energy, which is backed by Global Infrastructure Partners (GIP), for $627 million.
Another major transaction was Hyderabad-based Cyient's acquisition of California-headquartered technology firm Tao Digital for $218 million.
Other deals with undisclosed values included Kedaara Capital-backed Neurealm acquiring health-tech company Veersa Technologies and wealth management firm Scripbox snapping up Bluechip Capital's mutual fund distribution business.
Published by HT Digital Content Services with permission from VC Circle.