Sequoia Capital India has topped the Practus Hurun India PE Performers ranking list, having led funding in four companies including two unicorns with total investment of $125 million.
Norwest Venture Partners, led by Niren Shah and Tiger Global Management, bagged the second spot with investments in three companies each.
SoftBank led the largest funding on the list with an investment of $196 million in OfBusiness, a platform that facilitates raw material procurement and credit for small and medium enterprises (SMEs).
Honasa Consumer, the parent company of direct-to-consumer (D2C) brand, Mamaearth has witnessed an average growth of 491% over the last year, the report said.
Of the 125 companies in India that received single-round funding of more than $25 million in the CY21, Hurun Research Institute shortlisted 21 companies that fit the performance and funding criteria.
Integrated pharmaceutical company Encube Ethicals ranked second under this classification reporting a growth of 343%.
This was followed by technology-enabled logistics solutions provider Ecom Express, which ranked third with a growth of 283%. At fourth place with 224% growth came Desiderata Impact Ventures (Progcap) and ranked fifth on the list was Acme Formulation, with 172% growth.
“Over the last decade, private equity and venture capital investments in Indian companies have seen a significant upsurge and scaled an all-time high of $70 billion in 2021, an increase of 96% over the 2020 deal value excluding the Reliance Retail and Jio deals. In addition, the number of deals almost doubled from 1,100 to 2,000, record listing of new age businesses (Zomato, Paytm, Nykaa) and a significant increase in exit momentum ($36 million) with attractive valuation multiples,” Deepak Narayanan, founder and chief executive officer, Practus.
Desiderata Impact Ventures (Progcap), invested by Tiger Global Management, Sequoia and Creation Investments Capital Management reported the highest revenue growth of 474% among companies on the list
Of the 103 investors who participated in various funding rounds, Hurun Research Institute found 35 PE investors that have invested in companies featured in Practus Hurun India PE Performers 2022.