Data & Intelligence

India Data Insight (Q3 2018)

EMPEA Members, log in and click through for your exclusive access to the detailed report and underlying data.

Despite recent shocks to its financial system, private capital fundraising and investment in India grew 52% and 42%, respectively, in Q1-Q3 2018 compared to the first three quarters of 2017. Bankruptcy proceedings of Indian non-banking financial companies (NBFCs) have dealt a blow to the country’s financial sector, which has historically been a significant focus area for GPs. However, the growth of private credit strategies suggests that GPs are primed to find opportunities within the crisis. The number of private credit deals has climbed steadily since 2014, indicating an expansion in venture debt and small-cap direct lending strategies with the potential to fill the financing void left by NBFCs. Several larger investments in non-performing NBFCs are also in the pipeline. However, amid currency devaluation and weak stock market performance, public market and secondary sale exits dropped signifi-cantly in Q1-Q3 2018. The only exit strategy that has remained popular this year is strategic sales, highlighted by Walmart’s US$16 billion Flipkart acquisition in Q3. Witnessing increased consolidation in the relatively high-end e-commerce segment, GPs invested US$107 million in social networking startups in Q1-Q3 2018. These companies, which serve a wider range of consumers and can leverage user networks to market additional goods and services, may be the next technology frontier for investors in India.

Four Column


Four Column

Emerging Asia

Four Column

Latin America


Middle East


Four Column


Four Column


Four Column


EMPEA represents the leading global investors in EM. I look forward to working alongside to drive much-needed capital for financing entrepreneurs and businesses worldwide.

Renuka Ramnath | Founder, Managing Director & Chief Executive Officer, Multiples Alternate Asset Management Private Limited

EMPEA plays an important and energetic role across the markets it represents, driving outreach and research initiatives, and promoting the role of private capital.

Brian Lim | Partner and Head of Asia and Emerging Markets, Pantheon Ventures

The developed markets have no equivalent to the role EMPEA is playing as a convener and source of trusted information in the emerging markets.

David Rubenstein | Co-Founder and Co-Executive Chairman, The Carlyle Group

I’m honored to join fellow industry pioneers in the leadership of an unparalleled network, filled with first movers, shaping the future of industries and communities.

Dr. Andrew Kuper | Founder and CEO, LeapFrog Investments

EMPEA's market and industry intelligence opens doors to new sources of capital.  I look forward to the future success of EMPEA and its members.

Torbjorn Caesar | Senior Partner, Actis

While there are certainly challenges for the industry, the opportunities abound in our target markets and globally, making a global association like EMPEA more relevant than ever.

Drew Guff | Managing Director & Founding Partner, Siguler Guff & Company