General Atlantic to invest $2 billion in India, Southeast Asia
DAVOS: 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 said. General Atlantic is in early stage investment talks with about 15 companies in sectors including technology, financial services, retail and consumer, Sandeep Naik, the head of its business in India and southeast Asia, said.
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 cutjobs.