India: Reliance Jio deals drive up PE investments 12% in H1 2020 to $18.8b

Photo: Reuters

A string of deals struck by Reliance Industries’ Jio Platforms helped drive private equity (PE) investments 12% higher in the first half of this calendar year to $18.8 billion (across 341 deals). This was despite the subdued April-June quarter for PE activity on account of the coronavirus crisis, according to a report by financial data tracker Venture Intelligence.

In the same period last year, PE investments worth $16.8 billion (across 503 deals) were recorded.

Jio Platforms accounted for 51% of the total investment value in H1 2020, the data showed.

Jio Platforms’ $9.5 billion private equity haul, excluding Facebook’s $5.7 billion strategic investment, was led by investors from Middle East to the US. KKR, Saudi Arabia’s Public Investment Fund, and Vista Equity Partners invested $1.5 billion each, while by Silver Lake Partners and Mubadala Investment invested over a $1 billion each.

Without the Jio investments, PE-VC investments during H1 2020 would have been 45% lower year-on-year, according to the Venture Intelligence data.

At $4.1 billion across 270 deals, venture capital investments fell 11% in value terms and 31% in terms of volumes when compared with the corresponding period in 2019, which had witnessed $4.6 billion across 393 transactions. VC investments shrunk 52% in value terms year-on-year to $1 billion in the April-June quarter.

This article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.