November sees a 43-month-low as PE/VC bets plunge to $1.6B.

Investments by private equity and venture capital funds hit a 43-month low of $1.6 billion in November, according to a report by the Indian Venture and Alternate Capital Association (IVCA) and consultancy firm EY. This represents a drop of 69% compared to the same period last year and a 60% decrease from October. The report noted that there were 58 deals in November, compared to 106 in the previous year and 73 in October. The downturn in investments is attributed to a decline in startup investments and a decrease in large deals, as there is a widening gap between investor valuations and seller expectations. The report predicts that PE/VC investments for 2023 will be 10-12% lower than the $56 billion invested in 2022. In November, there were six large deals valued at over $100 million, totalling $993 million, which is just a quarter of the amount recorded in November 2022. The largest investment in November was Actis’s $205 million acquisition of 321 MW solar assets from Acme. There were also 22 exits worth $1.2 billion in November, compared to $2 billion in the same month last year. PE/VC funds raised $401 million in November for future investments, a decrease from the $1.9 billion raised in November 2022 and $2.4 billion in October 2023.