Global private equity firm General Atlantic plans to plough $2 billion into India and Southeast Asia over the next two years after falling valuations made the region’s startups more attractive, a senior executive told Reuters.
The market for startups, especially in India, is going through a rough patch. After raising a record $35 billion in 2021, founders are struggling to attract cash, sparking fears of lower valuations and forcing some to cut jobs. “The realism is setting in. We were waiting for the value creation to happen. We are now ready,” Naik said of General Atlantic’s plans for India and Southeast Asia, it has investments of more than $4.5 billion, mostly in India.
General Atlantic’s existing high-profile Indian investments include education technology companies such as Byju’s, which offers online tutoring in a country where internet and smartphone use is booming and is valued at around $22 billion.
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