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IT, ITeS attract USD 8.3 billion investment across 256 deals in January-March 2022- The New Indian Express

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By Express News Service

BENGALURU:  IT and ITeS have attracted $8.3 billion across 256 deals from January-March 2022. The industry has witnessed a 93% growth compared to the January-March 2021 quarter that attracted $4.3 billion investments across 163 deals.

According to a report by Venture Intelligence, a research service focused on private company financials, transactions, and their valuations, deals in the tech industry were led by the investments in Swiggy and other unicorns including the Blockchain-focused Polygon ($450 million), enterprise voice tech focused Uniphore Software ($400 million), and analytics firm Fractal ($360 million).

The BFSI industry attracted about $1.2 billion across 12 deals during the first quarter of 2022, a 46% increase from the $824 million invested across 13 deals in the same quarter of previous year. The $486 million investment in publicly listed IIFL Wealth Management by Bain Capital topped the BFSI list, followed by Apollo Global Management-led $267 million investment in Hero Fincorp and the $200 million investment in Oxyzo Financial Services. With the decline in technology stock prices in the US, private market investors are likely to be much more selective in funding late-stage tech start-ups as compared to 2021, said Arun Natarajan, Founder, Venture Intelligence.

Also, Private Equity – Venture Capital (PE-VC) firms invested over $15.1 billion across 346 deals in Indian companies during the first three months of 2022. Deal volumes in the first quarter of 2022 showed a 35% growth compared to Q121. Qatar Investment Authority’s $1.5 billion investment in the new media and consumer technology-focused platform Bodhi Tree was the largest in the first quarter of this year. 

“As the pandemic induced headwinds, as well as tailwinds, recede, we may witness PE-VC investors – who have already raised significant capital for their newer funds – focus on newer sectors and catalyse consolidation in some of the tech sectors,” Natarajan said.

Top deals in tech industry
Deals in the technology industry were led by investments in Swiggy and other unicorns including the Blockchain-focused Polygon ($450 million), enterprise voice tech-focused Uniphore Software ($400 million), and analytics firm Fractal ($360 million). 

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