NEW DELHI: Investments by private equity and venture capital (PE/VC) funds have declined to $3.4 billion for October, a report said on Tuesday.
By value, the bets were 3 per cent lower than $3.5 billion in the year-ago period, and 19 per cent lower than $4.2 billion in September, the report by industry lobby grouping IVCA and EY, a consultancy, said.
The number of deals or volumes was also lower at 70 transactions in October as against 80 in the year-ago period and 83 in a month earlier, the report said.
“Although the Indian consumption story continues to remain strong, the increase in uncertainty on account of global factors and impending state and central elections in India seem to be slowing down progress in deal pipeline activity,” the consultancy firm’s partner Vivek Soni said.
Stating that he has a “cautiously optimistic” outlook, Soni said PE/VC investments are still lacking momentum, especially in the startup space.
October witnessed nine large deals totalling $2.4 billion, a 9 per cent increase from the year-ago period, the report said.
Startup investments came in at $1.3 billion in October.