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HDFC Securities Institutional Equities
In 2021, India witnessed an unprecedented jump in funding activity (private equity/venture capital), resulting in the creation of 42 unicorns (third highest globally).
The year 2021 can be dubbed the 'age of the unicorns' due to the following factors:
total funds raised by 42 unicorns increased by 11 times YoY ($12.8 billion);
valuations jumped five times to $89 billion (~1.8 times of listed internet);
average deal size doubled YoY;
~60 mega deals (more than $100 million) accounted for 62% of total funding; and
~72% of the total fund was raised in 2021.
The optimism continues in 2022 as well, with a new unicorn being added every five days. Among sectors, fintech and e-commerce accounted for ~50% of total funds while health-tech, media-tech, food-tech and ed-tech combined accounted for ~35% of total funds invested.
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