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ContentsContentsContentsContentsContentsExecutive Summary 1

Sales Impact 3

Profitability Impact 4

Wages Impact 5

Export Impact 6

R&D Impact 7

Methodology 8

Case Study: Genpact 10

Case Study: Shriram Transport 12

Case Study: Excelsoft 14

Case Study: Subhiksha 16

About Prof Amit Bubna: Advisor to the Study 18

Sponsor Profiles 19

About Venture Intelligence 25

Supported by:

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In recent years, the swelling waves of Private Equity (PE) and Venture Capital (VC)

funds that lashed the shores of India have significantly changed the countrys corporate

landscape. In the three year period ended December 2008, PE and VC firms invested

almost $32 billion (i.e., a staggering Rs. 1,30,000 crores) into Indian companies.

1

Executive Summary

Private Equity Investments in India

12

10

8

6

4

2

0

14

16

0

50

100

150

200

250

300

350

400

450

500

1.7 2.1

7.2

13.9

10.8

82

158

326

439

399

2004 2005 2006 2007 2008

How exactly have Indian companies benefited from this barrage of PE and VC financing?

What value did PE and VC investors offer to Indian entrepreneurs, besides the capital?

The Venture Intelligence Private Equity Impactstudy, first conducted in 2007, measured

the impact of PE and VC funds on the Indian economy using quantitative methods the

first such initiative in India. This year, again with advice and guidance from Prof. Amit

Bubna of the Indian School of Business-Hyderabad, we have revisited the theme of

comparing PE- and VC-backed companies vis--vis non PE- or VC-backed peers in

terms of key economic parameters such as Sales, Profitability, Exports, Wages and

Research & Development.

!

Value US $ Billion No. of Deals

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2

Since our first PE Impact study in 2007, the sample size of publicly listed PE-backed

companies has increased significantly. The list has also become more diversified in

terms of sector. In addition, there has been a substantial rise in domestic-market focused

companies.

Apart from the quantitative study, we interacted with entrepreneurs and top executives

at four companies from different sectors Business Process Outsourcing, E-learning,

Financial Services and Retail to understand how their organizations benefited from

PE/VC investments.

The following are some of the key inferences that emerge from the quantitative study

and interactions with entrepreneurs:

PE and VC investment, when chosen and leveraged well, helps companies create

innovative business models, scale up rapidly and accelerate growth in several

ways that add significant value to the Indian Economy.

PE and VC firms are forging active partnerships with their investee companies

to improve capital efficiency, business strategy and corporate governance,

besides opening up new markets internationally.!

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Over the eight year period considered, on an average, PE-backed

companies grew at 24.9%, a significantly higher rate than non

PE-backed companies (15.5%), Nifty (19%) and CNX Midcap

(20.6%).

Comparative Annual Sales Growth (2000 - 2008)Comparative Annual Sales Growth (2000 - 2008)Comparative Annual Sales Growth (2000 - 2008)Comparative Annual Sales Growth (2000 - 2008)Comparative Annual Sales Growth (2000 - 2008)

30%

25%

20%

15%

10%

5%

0%PE - backedcompanies

Non PEbacked companies

Nifty Sensex CNX Midcap

24.9%

15.5%

19.0%20.0% 20.6%

CA

GR

Private Equity boosts Indian economy

3

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4

On an average, PE-backed companies showed 34.6% growth

in Profit-After-Tax, significantly higher than non-PE backed

companies (25.3%), Nifty (26.4%) and CNX Midcap (25.4%).

ComparativComparativComparativComparativComparative Annual Pe Annual Pe Annual Pe Annual Pe Annual PAAAAAT GrT GrT GrT GrT Grooooowth (2000 - 2008)wth (2000 - 2008)wth (2000 - 2008)wth (2000 - 2008)wth (2000 - 2008)

30 %

25 %

20 %

15 %

10 %

5 %

PE - backed Non PEbacked

Nifty Sensex CNX Midcap

34.6%

25.3% 26.4% 25.6% 25.4%

35%

CAGR

Private Equity-backed companies are moreprofitable

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Wages at PE-backed companies grew at a significantly higher

rate than at their non PE-backed peers. The growth rate of wages

at PE-backed companies was almost thrice that of Midcap index

companies and substantially more than that of non PE-backed

companies.

Comparat ive Annual Wages Growth (200 0 - 200 8)Comparat ive Annual Wages Growth (200 0 - 20 08)Comparat ive Annual Wages Growth (200 0 - 200 8)Comparat ive Annual Wages Growth (200 0 - 20 08)Comparat ive Annual Wages Growth (200 0 - 20 08)

30 %

25 %

20 %

15 %

10 %

5 %

0 %

PE - backed Non PEbacked

Nifty Sensex CNX Midcap

32.0%

14.9%

20.3%

22.5%

11.1%

35 %

CAGR

Private Equity-backed companies createwell-paying jobs

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6

A few years ago, Private Equity firms were primarily focused on

export-oriented sectors, especially IT Services, BPO and

Pharmaceuticals. In recent years, they have shifted focus to

sectors targeting the domestic economy. About 59% of the PE-

backed companies are focused on the domestic market. (See

page 9 for split-up of PE-backed companies by industry.)

While the growth rate of exports at PE-backed companies (at 31%)

lags that of large cap companies, it is still higher than at non PE-

backed companies (26.3%) and midcap companies (27.8%).

30 %

25 %

20 %

15 %

10 %

5 %

0 %

PE - backed

companies

Non PE

backed

Nifty Sensex CNX Midcap

31.0%

26.3%

34.1%

42.2%

27.8%

Comparative Annual Exports Growth (2000 - 2008)Comparative Annual Exports Growth (2000 - 2008)Comparative Annual Exports Growth (2000 - 2008)Comparative Annual Exports Growth (2000 - 2008)Comparative Annual Exports Growth (2000 - 2008)

CAGR

35 %

40 %

45 %

Private Equity-backed companies generate

foreign exchange earnings

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Research and Development (R&D) activity that helps launch

innovative products and services is key to spurring economic

demand. Lack of capital to invest in R&D has long been a factor

that held back corporate India. Private Equity capital is helping

address this issue.

Growth in R&D investments at PE-backed companies is overtwice that at their non PE-backed counterparts.

Comparative Annual R&D Growth (2000 - 2008)Comparative Annual R&D Growth (2000 - 2008)Comparative Annual R&D Growth (2000 - 2008)Comparative Annual R&D Growth (2000 - 2008)Comparative Annual R&D Growth (2000 - 2008)

30 %

25 %

20 %

15 %

10 %

5 %

0 %

PE - backedcompanies

Non PEbacked

Nifty Sensex CNX Midcap

45.2%

21.3%

30.3%32.4%

28.7%

35 %

40 %

45 %

50 %

Private Equity catalyzes innovation in the economy

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Private Equity firms invest in the equity of companies that are, typically, not traded on a public

stock exchange. Categories of Private Equity investments include buyouts, mezzanine capital,

venture capital (VC) and seed capital. In some cases, Private Equity firms also invest in

listed companies through PIPE (Private Investment in Public Enterprises) transactions.

Quantitative Study

" The time period used for the quantitative comparison was 2000-2008. This period includes an

upward and downward cycle in the economy and maximizes the number of companies taken for

comparison. Private Equity investments in the economy declined in the period 2000-2002 before

picking up again in 2003.

" The companies analyzed in the quantitative study are publicly listed firms to ensure authenticityand accessibility of data.

" The list of all publicly listed companies as on December 31, 2008 was compared to Venture

Intelligences database of Private Equity-backed companies to generate a list of publicly listed Private

Equity-backed companies.

" The Private Equity-backed companies considered were those that received such an investment

at any point in their lifecycles. The investor(s) might/might not hold a stake in the company currently.

" From the above, companies for which sales data for either 2008 or 2000 wasnt available were

eliminated from both PE-backed and Non-PE-backed sets.

" Post the above filtration, there were 182 such publicly listed Private Equity-backed companies

(which constitute the PE-backed Cos. list in the report). These companies were eliminated from the

master list to generate the list of 1,988 non Private Equity-backed companies.

" On the basis of the sector-wise and size-wise distribution of Private Equity-backed companies,

Nifty, Sensex and CNX Midcap were chosen as the relevant indices for comparison. The constituents

of the indices used for comparison were the ones as on January 1, 2009. Movement of particular

stocks from and into the index was not considered.

" In case a company in the PE-backed companies list was involved in a merger or acquisition, the

merged entity was considered as Private Equity-backed based on the following:i) Whether the Private Equity firm retained a stake in the merged entity, or

ii) Whether the company that constituted 75% or more of the merged entitys

revenues was Private Equity-backed, or

iii) Whether Private Equity funding played a role in the transaction. For example, it is

common for companies to use Private Equity funding for inorganic growth. In such

cases, the merged entity was considered Private Equity-backed.

" Adjustments were made for changes in annual reporting cycles.

"The sample might suffer from survivorship bias, as it represents a sample of Private Equity-

backed companies that were able to go public. The performance of these companies has been

compared to non PE-backed companies that are also listed, mitigating this bias.

Methodology

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Industrywise distribution of PE-backed companies

Sizewise distribution of PE-backed companies

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Profile:

Genpact started out as GECIS, GEs captive outsourcing unit, in

Gurgaon in 1998. In 2004, by which time the unit had grown into a

sizable entity with 17,000 employees, GE and the GECIS top

management saw the potential to extend the latters services to other

large multinationals.

While several strategic buyers were also interested in GECIS, the

management chose to go with Private Equity firms General Atlantic

and Oak Hill. The decision was driven by several factors, explains

Pramod Bhasin, President & CEO of Genpact. Going with PE firms

would help preserve the DNA and culture of the company, ensure

continuity of services to GE and incentivize the existing management

team to grow the firm. The PE firms would also be able to help

commercialize the capabilities and value proposition of GECIS.

Today, Genpact employs over 34,000 people across 31 Delivery

Centers in 10 countries. Genpact went public on the NYSE in 2007.

Investors:

General Atlantic Partners, Oak Hill Capital

Investment Summary:

General Atlantic and Oak Hill acquired a 30% stake each from GEin November 2004 for a total investment of US$ 500 million.

Case Study

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IndustryIndustryIndustryIndustryIndustry BPOBPOBPOBPOBPO

CompanyCompanyCompanyCompanyCompany GenpactGenpactGenpactGenpactGenpact

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Private Equity and Genpact:

The investors have helped Genpact tap customer contacts,

formulate company strategy and go-to-market strategy. At

the time of Genpacts IPO, the company was able to

leverage the investors knowledge of capital markets and

experience of taking companies public. We were also able

to benefit significantly from their global network,

understanding of key markets as well as experience in new

verticals and practices to formulate our expansion and

diversification strategies, Bhasin adds.

How has life changed for the management team post the

entry of PE investors? Under GE, we built our culture, DNA

and acquired significant capabilities. Under PE firms, we

learned how to commercialize, market ourselves better and

strategically think through where we want to be in the

medium to long term, says Bhasin. Earlier, there was

dependence on GE in terms of strategy and directions. Now,

it is the management team that drives the strategic agenda

and runs it like its own business. There is a sense of

ownership, purpose and pride in building something unique.

There is freedom with accountability and responsibility.

PE Impact:

!!!!! Developing customer contacts

!!!!! Active participation in the acquisitions process

!!!!! Corporate governance structuring the Board and its committees

!!!!! Devising employee compensation plans

Pramod Bhasin,

President & CEO, Genpact

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Profile:

Innovationhas repeatedly earned the Shriram Group rich

dividends. In 1979, it spotted a market in offering vehicle

financing to small truck owners. Its offer of loans to buy

used trucks was a big success and today, with a 25% share

of the largely unorganized market, Shriram Transport

Finance Corporation (STFC) is the leader in truck finance.

In the late 1990s, when NBFCs struggled to cope with

stricter regulatory norms at one end and poor consumer

confidence at the other, the Shriram Group trained its focus

on managing its reputation and won the battle. In the earlypart of this decade, the group once again hit a new route

it became one of the few big corporate houses in India to

go for PE funding in a big way.

Investors:

ChrysCapital, TPG Newbridge

Investment Summary:

STFC raised about Rs. 100 crore from ChrysCapital in

February 2005, followed by a $100 million round from TPG

Newbridge in September 2005.

Case Study

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IndustryIndustryIndustryIndustryIndustry Truck FinanceTruck FinanceTruck FinanceTruck FinanceTruck Finance

CompanyCompanyCompanyCompanyCompany Shriram Transport FinanceShriram Transport FinanceShriram Transport FinanceShriram Transport FinanceShriram Transport Finance

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Private Equity and Shriram Transport:

In recent years, PE funds have made 25 different equity

investments totaling about Rs. 1,936 crore across nine

companies of the Shriram Group. Of this, STFC has

raised Rs. 439 crore. We raised Rs. 100 crore from

ChrysCapital in 2005 to fund our capital needs, recalls

R. Sridhar, MD of STFC. The growth that followed was

rapid and we needed funds again in 12 months. In came

TPG with a $100 million investment.

We were looking to raise funds via various options

including a public offering, says Sridhar. But the PE

investors were very willing to invest during 2005-2008,when the countrys economic growth was booming. We

opted for it because we found the PE route to be quicker

and the process was easy.

The investors interact with STFC at different levels. While

ChrysCap operates mostly at the board level, TPG is

more involved at an operational level. The PE investors

also enable STFC to develop a global outlook.

Its never easy working with multiple investors, admits

Sridhar. I credit my management with handling them

perfectly, he adds. We have a good relationship with

them. We make them feel comfortable.

R. Sridhar, MD, STFC

PE Impact:

!!!!! Quicker access to funds to fuel rapid expansion

!!!!! Helped develop a global outlook

!!!!! Inputs for decision making at both board and operational levels

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Profile:

Mysore-headquartered software services provider Excelsoft

decided to focus on e-learning when it was not fashionable

to do so. We were encouraged by some of the successfullarge-scale online education implementations abroad and

saw a huge opportunity there, recalls D.Sudhanva, CEO.

Nine years down, his decision appears vindicated. The

company is into a range of businesses in the e-learning

space including consulting, product design & engineering,

custom software development and content development.

In 2001, for funding as well as for tapping business expertise,

Sudhanva turned to UTI Ventures. UTI Ventures helped usin two ways, he observes. They offered a sounding board

for our product ideas; and they lent us the business exposure

we lacked. Result: Excelsoft now caters to corporations,

universities, schools, publishers, e-learning portals and

governments across the world, developing platforms under

the brand Saras.

Investors:

UTI Ventures, DE Shaw, Arohi Asset Management

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IndustryIndustryIndustryIndustryIndustry E-learning ToolsE-learning ToolsE-learning ToolsE-learning ToolsE-learning Tools

CompanyCompanyCompanyCompanyCompany Excelsoft TechnologiesExcelsoft TechnologiesExcelsoft TechnologiesExcelsoft TechnologiesExcelsoft Technologies

Case Study

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PE IMPACT

!!!!! HR systems, legal framework, overseas market knowledge

! Sounding board for product ideas and to validate assumptions

! Funding for niche product development

Private Equity and Excelsoft:

Excelsoft raised its first round of funding - of Rs. 2.5 crore

- from UTI Ventures in 2001. Sudhanva says the role of

UTI Ventures was particularly helpful because Excelsofthad a strong niche product focus that the investors

understood. Also, they were willing to wait for the venture

to shape up.

The company has recently seen a change of investors.

In April 2008, UTI Ventures sold its stake in the company

to DE Shaw. In September 2008, another overseas

investor, Arohi Asset Management, also chose to invest

in the firm.UTI Ventures was associated with Excelsoft for over

seven years. Initially, we helped the company in fine-

tuning its business model and target-market focus.

Though the company presented exit possibilities earlier,

sensing the true potential of the company, we waited

patiently. Our patience has paid off. We are very pleased

to note that this is one of the best exit multiples realized

by any VC/PE Investor in India, says Raja Kumar, MD& CEO, UTI Ventures.

Sudhanva says the presence of financial investors

provided a pressure point that made us stronger. To

other entrepreneurs, his advice would be: Opt for an

investor who knows the business, and is product- and

IP-oriented. The investor should appreciate your model,

and understand your market.

D. Sudhanva, CEO,

Excelsoft Technologies

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IndustryIndustryIndustryIndustryIndustry RetailRetailRetailRetailRetail

CompanyCompanyCompanyCompanyCompany SubhikshaSubhikshaSubhikshaSubhikshaSubhiksha

Profile:

In the 12 years since its inception in 1997, Subhiksha has

grown from a single store in Chennai to one of Indias largest

supermarket chains with over 1,000 outlets across 90 cities.

Subhikshas founder, Ramaswamy Subramanian, an IIT-

Madras & IIM-A alumnus, started the company with the aim

of delivering savings to consumers on products they need

in their daily lives. Subhiksha follows an Indianised format

of supermarket catering to even the bottom of the pyramid

customer, with goods typically sold at a discounted price.

Besides grocery, childcare, food, pharmaceuticals andhousehold products at its regular stores, the company is

setting up exclusive retail outlets to sell mobile phones under

the brand Subhiksha Mobile.

The firm adopts a cluster strategy for growth by opening a

large number of stores at a location that has a high density

of potential customers. This ensures that cannibalization of

sales would be within the network of stores, rather than to

other chains or independent outlets.

Case Study

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Investors:

ICICI Venture, Premji Invest

Venture Capital and Subhiksha:

ICICI Venture first invested in Subhiksha in 2000.

Subramaniam points to three distinct benefits that the

venture capital infusion brought in: The first value-add was

credibility with bankers, employees and with the rest of

the market. Secondly, given that we were then a small

company trying to expand, venture financing gave us quick

access to capital. The third element was that the investors

brought in an outsider perspective. It was valuable since

they were familiar with different businesses acrosssegments.

ICICI Venture followed up their initial investment with

another infusion in December 2004. Subramaniam says

the second round was an endorsement to the way

Subhiksha was doing.

In September 2008, Wipro chairman Azim Premji acquired

a 10% stake in the company via his Private Equity

investment vehicle. Talking about Premjis decision toinvest in his company, Subramaniam says: Premjis

credibility rubs off on us. The company would surely benefit

from being associated with someone who is known for

probity and for setting high benchmarks in corporate

governance.

PE Impact:

!!!!! Credibility with bankers, employees and the market

!!!!! Perspective on business from the investors experience of

having dealt with several businesses across segments

!!!!! Quick access to capital for expansion

Ramaswamy Subramanian,

Founder, Subhiksha

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About Prof. Amit Bubna

18

Prof. Bubna holds a Ph.D in Economics

from Stanford University (USA), an M.Phil

and BA in Economics from Cambridge

University (UK) and a B.Sc. in Economics

from Presidency College, Kolkata.

He joined the faculty at Indian School of

Business, Hyderabad (ISB) as Assistant

Professor in 2004. Prior to this, he was a Managing Economist at the

California office of LECG, LLC, a leading economic consulting services

firm that provides complex economic and financial analysis for a wide

range of customers, including Fortune 100 companies, regulatory

bodies, and international financial institutions.

Prof. Bubna has taught economics to undergraduates at the University

of California at Berkeley. He has also been a guest lecturer at the Haas

School of Business, University of California where he spoke on the

role of venture capital in funding new ventures.

Prof. Bubnas research interests include microeconomic theory, with

applications in areas such as informal finance, venture capital,

bankruptcy and auctions; comparative institutional analysis; corporatefinance; and law and economics. His article on venture capital

syndication was published in Research in Finance.

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Sponsor Profiles

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21

Halcyon is an Actively Involved Investing group, founded by Narayan Seshadri, Chairmanand CEO and Abhay Soi, Managing Director.

Halcyon was established in 2004 as a work-out group helping underperforming and

stressed companies survive, revive and grow. In 2007, Halcyon entered into an advisory

arrangement with an overseas fund for investing in special situations businesses in India. This

fund has as its investors, one of the most successful value investing fund houses in the world.

In the course of their work-out and investing history and their prior careers, Halcyon and its

sponsors have helped turn-around several stressed and underperforming companies. Halcyons

model of innovative transaction structuring for downside protection in stress situation and active

involvement for unlocking and creating value, have ensured most of their investments are still

valuable despite the prevailing market and economic conditions.

To enhance its impact of intervention, Halcyon has established an ecosystem of partners who

provide specialized services ranging from Legal, Accounting, Tax, Audit and Recruitment services

to Technical and IT support.

Halcyon has now entered into an arrangement to advise a new fund being set up to address

distress and restructuring opportunities in India.

Contact Details:

Halcyon Resources & Management Limited

Ground Floor, Hoechst House Nariman Point, Mumbai 400021

Tel: 91 22 2284 6000 Fax: 91 22 2284 6060 Email: vinayak@halcyongrp.com

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About UTI Ventures

UTI Ventures is a leading Indian Private Equity firm focused on growth capital. We are backed

by marquee investors from India and overseas. The key attributes of our firm are:

!!!!! An outstanding track record built over the course of Fund I and Fund II,both of which are among top performers

!!!!! A local, cohesive and well-networked team with over 80 years of

experience in Indian markets and nearly 40 years of experience in Indian PE

!!!!! An investment philosophy based on entrepreneur-centric opportunities,

disciplined valuation and continuous value-add

!!!!! A vast network which gives us access to proprietary deal flow and enables

us to drive our portfolio companies to a higher growth trajectory

Investment ApproachThe focus of our investments is Indian mid-market growth capital private equity. We follow an

entrepreneur centric investment approach and take significant minority stakes in the companies

that we back. We actively seek out promising Indian companies driven by visionary leadership.

Our constant endeavour is to complement the strengths of the teams we back. From raising

additional capital, attracting senior management talent, maintaining high standards of corporate

governance, preparing companies for successful IPOs to providing advice on inorganic growth

plans, we leverage our experience and network to drive the success of every company we

back.

Ascent India Fund IIIThe management team has currently launched Ascent India Fund III with a targeted corpus of

US$ 400 million. Fund III will focus on mid market growth capital opportunities and make

investments in the range of US$ 10 30 million in each portfolio company over one or multiple

tranches.

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Focus Sectors

We prefer to invest in sectors in which we have proven expertise and are poised for significant

growth due to Indias emergence as a fast growing economy. These sectors are underpinned by

three key considerations.Domestic consumption driven demand

Key Sectors: Retail, Entertainment & Media, Financial Services,

Healthcare, Educational & Training Services

Infrastructure spend led demand

Key Sectors: Engineering, Capital Goods & Construction, Logistics &

Allied, Power & Renewable Energy

Global competitiveness of Indian industry

Key Sectors: Pharmaceutical and Life Sciences, Information Technology,Business Process Outsourcing & Knowledge Process

Outsourcing

Portfolio Companies

Our portfolio includes emerging leaders in sectors such as infrastructure services, retail, outdoor

media and alternate energy:

Laqshya Media, one of Indias largest outdoor media companies

Koutons Retail, one of the largest integrated apparel retail chains in India

Consolidated Construction Consortium, a leading urban infrastructure services companyPESCO Beam, a fast growing environmental solutions company

Shriram EPC, a leading EPC service provider

Ind Barath Power, Indias largest group captive power producer

For further details contact:

UTI Ventures

Concorde Block, 16th Floor, UB City, #24 Vittal Mallya Road, Bangalore 560 001

Tel: + 91 80 3055 1200. Fax: + 91 80 3055 1234

email: info@utiventures.com

1923

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Capvent AG is an independent Private Equity investment group based in Switzerland, with

offices in the UK and India. Our focus is on generating high returns for our LP investor partners

by investing in exceptional Private Equity funds internationally.

We manage or advise Private Equity programs of over $1.5 billion in size, invested in over 80groups through fund-of-funds and co-investment programs. Capvent invests in the full range

of Private Equity strategies, including leveraged buyout, growth and expansion capital, venture

capital, distressed and mezzanine funds.

The team includes five partners, two based in India (Varun Sood and Rohan Ajila), two in

Zurich (Tom Clausen and Thomas Vock) and one in London (Joe Sovran) respectively, with

a cumulative total of over 80 years of experience in Private Equity. They are supported by an

investment team of 10 investment professionals in addition to analytical and back office

resources, functioning out of three offices in India.

With an office in India since 2003, Capvent was the first experienced institutional fund-of-funds manager with an operational presence in India.

For further details contact:

Varun Sood

Capvent India Advisors Ltd., 7/2 Edward Road, Bangalore 560052, Tel: +91 98 504 61676.email: vs@capvent.com

Tom F. Clausen

Capvent AG, Dufourstrasse 24, 8008 Zurich, Switzerland India, Tel: +41 43 500 50 71/2.

email: tc@capvent.com

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Venture Intelligence, a division of TSJ Media, is the leading provider of information and networking

services to the Private Equity/Venture Capital Entrepreneur ecosystem in India.

Our research and analysis is used extensively by PE / VC industry practitioners, entrepreneurs,

CXOs of large corporations, the media as well as regulatory agencies. Our publication subscribers

include leading PE / VC Firms, Limited Partners, Investment Banks, Law Firms, HR Services

Firms and Consulting Firms.

Venture Intelligence has an exclusive agreement with the Global-India Venture Capital Association

(GIVCA) to bring out quarterly and annual reports on Venture Capital investments in India.

Venture Intelligence products are a one point source for information and analysis on:

- Private Equity, Venture Capital and M&A deals- Companies looking for investors and M&A deals

- New Funds being raised

Our products include:

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!!!!! Includes searchable profiles of all PE/VC firms and PE/VC-backed companies

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!!!!! Sector-focused monthly format for entrepreneurs

Private Equity & Venture Capital Reports

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Directories

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Conferences

Venture Intelligence conferences are a leading platform that bring together investors and

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from accomplished companies.

Contact Details:

TSJ Media Pvt. Ltd. 48 (Old No. 29), Ground Floor, Warren Road, Mylapore, Chennai-600 004INDIA. Email: info@ventureintelligence.in. Web: www.ventureintelligence.in

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About Venture Intelligence

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