This document provides an overview of different forms of private equity funding. It discusses why companies need funds and when equity financing is preferred over debt. It then describes various forms of private equity including angel investors, venture capital, growth-stage private equity, buyout funds, and mezzanine debt. The document reviews recent trends in private equity deals and sectors. It also outlines the general private equity investment process, valuation methods, deal structures, exit options, and considerations for private equity funding. In the conclusion, it notes that private equity is operating in a challenging environment with a large pipeline of future exits.
What is Private Equity?
Present the basic of Private Equity, its strategies, the way it works, the difference between passive versus active investors, exit strategies, its big players and highlight its difference versus other options. Finally, it presents the private equity jobs.
An introduction to Private Equity, the private equity investment model, private equity strategy, private equity structure, private equity performance and how it is achieved
What is Private Equity?
Present the basic of Private Equity, its strategies, the way it works, the difference between passive versus active investors, exit strategies, its big players and highlight its difference versus other options. Finally, it presents the private equity jobs.
An introduction to Private Equity, the private equity investment model, private equity strategy, private equity structure, private equity performance and how it is achieved
VENTURECAPITAL FINANCING
- By Dr. Ratna Sinha, Associate Professor, ISBR Business School, Bangalore
Venture capital funding is one of the important options for entrepreneurs to secure funding. Venture capital (VC) means risk capital. The risk envisaged may be very high or may be so high as to result in total loss or very less so as to result in high gains. This 35 slides power point presentation on Venture Capital Financing explains how the Venture Capital Funds are organized. The other objectives of the presentation intended to provide students with the terminology of VC and knowledge of the key industry facts. This presentation help to understand types of venture capital funds, mode of operations and industry- standard technique for the valuation of VC investments.
What Is Private Equity?
Private equity refers to firms that put big chunks of cash from sources such as pension funds or endowments into buying not publicly traded and (often) faltering businesses or assets and selling them for a profit. Private equity invests in a wide variety of industries. It is an asset class consisting of equity securities and debt in operating companies that are on a stock exchange. A private equity investment will generally be made by a private equity firm, a venture capital firm or an angel investor.
Just over six years after the Dodd-Frank Act became effective, private equity firms impacted by the law could get some relief if a bill they’ve championed makes it through an upcoming vote in the House of Representatives. (September, 2016).
After the 2008 financial crisis, private equity took a hit from federal regulators. Beforehand, they faced little oversight. Afterward, they suddenly found themselves with a bunch of new regulatory exams and reporting obligations. While they can play some risky games PEs aren’t as regulated as your normal bank.
PE firms make money off of deals by taking 2 percent of the money it manages and a 20 percent (commission) of the profits above a certain baseline.
What Is Dodd-Frank?
Dodd-Frank was a Wall Street reform bill that was thought up after the 2008 financial crisis to try and avoid a repeat of that disaster. It was the first major change to federal financial regulations in the United States since reforms that came just after the Great Depression.
While it had plenty of critics, it has been championed by many who point out that it succeeded in at least some ways. The SEC reportedly has been taking action against private equity firms lately, including at least one crack down on an adviser who decided not to register as a broker (brokers with more than 15 clients need to register). That case was settled.
Opponents of the House bill point to those successes as reason to keep the rules how they are and not to loosen them.
What Does This New Bill Do?
OK, so it isn’t a repeal of Dodd-Frank, but it does loosen requirements for private equity firms when it comes to what information they have to provide to the SEC. That includes, most importantly, loosened rules for reporting what types of commodities the firms are buying and who is running the show as an adviser.
VENTURECAPITAL FINANCING
- By Dr. Ratna Sinha, Associate Professor, ISBR Business School, Bangalore
Venture capital funding is one of the important options for entrepreneurs to secure funding. Venture capital (VC) means risk capital. The risk envisaged may be very high or may be so high as to result in total loss or very less so as to result in high gains. This 35 slides power point presentation on Venture Capital Financing explains how the Venture Capital Funds are organized. The other objectives of the presentation intended to provide students with the terminology of VC and knowledge of the key industry facts. This presentation help to understand types of venture capital funds, mode of operations and industry- standard technique for the valuation of VC investments.
What Is Private Equity?
Private equity refers to firms that put big chunks of cash from sources such as pension funds or endowments into buying not publicly traded and (often) faltering businesses or assets and selling them for a profit. Private equity invests in a wide variety of industries. It is an asset class consisting of equity securities and debt in operating companies that are on a stock exchange. A private equity investment will generally be made by a private equity firm, a venture capital firm or an angel investor.
Just over six years after the Dodd-Frank Act became effective, private equity firms impacted by the law could get some relief if a bill they’ve championed makes it through an upcoming vote in the House of Representatives. (September, 2016).
After the 2008 financial crisis, private equity took a hit from federal regulators. Beforehand, they faced little oversight. Afterward, they suddenly found themselves with a bunch of new regulatory exams and reporting obligations. While they can play some risky games PEs aren’t as regulated as your normal bank.
PE firms make money off of deals by taking 2 percent of the money it manages and a 20 percent (commission) of the profits above a certain baseline.
What Is Dodd-Frank?
Dodd-Frank was a Wall Street reform bill that was thought up after the 2008 financial crisis to try and avoid a repeat of that disaster. It was the first major change to federal financial regulations in the United States since reforms that came just after the Great Depression.
While it had plenty of critics, it has been championed by many who point out that it succeeded in at least some ways. The SEC reportedly has been taking action against private equity firms lately, including at least one crack down on an adviser who decided not to register as a broker (brokers with more than 15 clients need to register). That case was settled.
Opponents of the House bill point to those successes as reason to keep the rules how they are and not to loosen them.
What Does This New Bill Do?
OK, so it isn’t a repeal of Dodd-Frank, but it does loosen requirements for private equity firms when it comes to what information they have to provide to the SEC. That includes, most importantly, loosened rules for reporting what types of commodities the firms are buying and who is running the show as an adviser.
Start ups challenges for funding optionsAnjana Vivek
How do you choose from this range of investors and more: HNIs, informal and formal Angel groups,Seed Funds,Venture Capital, Private Equity, Banks, Strategic Investors, Corporate Funds; (Family) Business Groups, Indian & Global, Government supported funds, Impact Investors, Incubators, Accelerators, Crowd funding, Online funding platforms
Are you thinking about what you need to fund your company? Where do you start? Funding is not “one size fits all”. Every company has to approach their pathway to funding with a unique approach. Join our fundraising experts for an in-depth discussion of what options you have for funding and how to decide which paths are right for you and your company. Topics covered will include investment criteria, time to closing, investment range, success rates, control features, compliance requirements and the overall costs of capital from each such source.
Jean Hammond – LearnLaunchX, LearnLaunch.org, Hub Angels, Launchpad Venture Group, Golden Seeds
Robert Bishop - Goodwin Procter
In partnership with:
Founders Workbench
Value-oriented investment firm that commits people, capital, and fortitude to help address the critical issues facing public companies. Includes company, market and strategy overview.
Note: Confidential and proprietary information omitted from public version.
"How to maximize your potential to attract US capital" by John Bautista TheFamily
By John Bautista, Partner at Orrick.
Join us IRL next time! http://meetup.com/thefamilyspecialevents
The contents of this video are intended for general information purposes only and should not be considered or construed as legal advice. The distribution of this presentation or its content is not intended to create, and receipt of it does not constitute, an attorney-client relationship. (The views set forth herein are the personal views of the presenters and do not necessarily reflect those of Orrick, Herrington & Sutcliffe.)
Scott droney - financing start-up and growthScott Droney
Scott Droney is provide financial services spectrum as well as data processing and managing segments. Since most of its financial services were retail focused, the need to build scale and skill in the transaction processing domain became imperative.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
2. Contents
•
Why do companies need funds?
•
When is equity financing preferred?
•
Forms of Private Equity Funding
•
Recent Trends
•
General Process
•
Valuations
•
Structures and Instruments
•
Exit Options
•
Advantages and Disadvantages
•
Important factors for consideration
•
PE at crossroads…
2
3. Why does a company need funds?
Capital Expenditure
Working Capital
Retiring Debt
Expansion
Acquisition Finance
• Plant & Machinery
• Land & Building
• Fund Based
• Non Fund Based
• Term Loan Repayment
• Vertical – New Product Lines / New Segment
• Geographical – Operations in International Markets
• Leverage Buy-out
• Management Buy-out
3
4. When is equity financing preferred?
Over
leveraged
Ideal for start
ups
Equity
Financing
Difficult to
meet interest
commitments
4
Inconsistent
cash flows
5. Forms of Private Equity Funding
Mature
Business
Stages of Business
SME’s
Ideas
Incubation
Funds by
Promoters
Mid - Large
Business
Micro
Business
Family &
Friends,
“Angel” Investors &
Venture Capitalist
Venture Capital,
Private Equity
& Mezzanine
Types of Private Equity Funds
5
Capital Markets /
Private Equity
& Mezzanine
Buy Out Funds/ Capital
Markets
7. Recent Trends in PE - Sectorial Breakup
For H1 2011
Source: Grand Thornton Deal Tracker
7
8. Recent Trends in PE - Performance of various funds
• Expansion / growth capital accounts for 46% of total deals of 2011
• Big trends for 2011 was surge in start-up/early stage deals from 18% of total in 2010 to 33% of total in
2011
Source: Economic Times on 6th January, 2011
8
9. Angel Investor
•
Provides „seed funding‟
•
Usually affluent individual providing capital for business start-ups
•
Different from venture capitalists
•
Limitation on amount of money that can be raised
•
Bear high risk
•
Require very high return
•
Investment holding period of <5 years
9
11. Venture Capital
•
Typically occurs after seed funding stage
•
Subset of private equity
•
Venture capital consists of investing in equity, quasi equity and/or conditional loan in order to
promote unlisted, high risk or high tech firms driven by technically or professionally qualified
entrepreneurs.
•
Finance companies that have demonstrated extraordinary business potential
•
The risk anticipated is very high
•
Follow the concept of “high risk, high return”
•
Year 2011 is record year for early-stage Venture Capital investing
–
Deal values & volumes at all time high
–
Euphoria around e-commerce, across mobile, internet and related verticals
–
Evident from recent deals of InMobi, Fashionandyou, Snapdeal
–
Exit in MakeMyTrip touted as poster deal for domestic venture industry
–
JustDial , One97 Communications and others lining up for exit over coming months
11
12. Venture Capital
Sector
Majorly in
emerging sectors
Early Stage
Funds start up
& early expansion
Key Driver Innovation
Highly skilled
professionals,
scientist &
innovators with
innovative
business idea,
new product &
new technology
Investment
& Exit
Upto $10 mn, exit
through strategic
sale or IPO
Success
High mortality rate
& few great
success
12
14. Private Equity
•
Equity investments in relatively mature, primarily unlisted companies requiring growth capital
•
An asset class that involves value enhancement and high returns generation by sharing business
expertise of the Investor complementing the Entrepreneur
•
Typical value additions from the PE Fund House could include Strategy Formulation Financial
Formulation, Expertise and Global/Domestic Networks (including other investee companies)
•
Offer greater opportunity to exercise control over investments as compared with other passive asset
classes like equities, mutual fund, real estate, commodities, fixed income
–
Active involvement and influence on the company, including board seat
•
Each investment is backed by an investment thesis which plays out over a period of 3 to 5 years
•
Private Investment in Public Entities (PIPES)
14
15. Growth Stage – Private Equity
Success
Investment
& Exit
Key Driver Innovation
Growth
Stage
Sector
Capacity expansion,
new products, new
geography etc.
Investor funds at
growth stage of
the company
All growth sectors
15
From $5 mn to
$500 mn, exit
through IPO
Few failures &
great success
17. Buyout Funds
•
Globally most important strategy of PE; though not a very prevalent strategy in India
•
Generally buyout‟s done at matured stage of business
•
Mature companies with leading market position, active management team, strong cash‐flow
•
Taking a controlling stake in the company through leveraged buyout (LBO) or through management
team alongside the PE fund (MBO)
•
PE funds provide capital for expansion, promoters‟ / corporate divestures, succession issues…
•
Development of a business plan over 4 to 6 years in order to add value
•
Revenue growth + Margins improvement + deleveraging = added value
17
18. Transactions (Illustrative)
Company
Flextronics Software Systems
GE Capital International Services (GECIS)
Financial Investor
Kohlberg Kravis Roberts & Co.
General Atlantic Partners, Oak
Hills
Value (US$ Mn)
Type
900
LBO
600
LBO
Phoenix Lamps
Actis Capital
29
MBO
Nilgiris Dairy Farm
Actis Capital
65
MBO
WNS Global Services
Warburg Pincus
40
MBO
Infomedia India
ICICI Venture
25
LBO
Nirula‟s
Navis Capital Partners
20
MBO
Gokaldas Export
Blackstone
165
MBO
N.A.
MBO
Paras Pharmaceuticals
Actis Capital
Sequoia Capital
18
19. Mezzanine Debt / Structured Product
•
Mezzanine financing is provided by mezzanine funds and sometimes hedge funds
•
Finance as Debt instrument / structured product like partly or optionally convertible instruments etc.,
immediately subordinated to equity
•
Mezzanine financing might include, besides coupon bearing debt, an equity sweetener as well
•
Considered as debt instrument with very high yield which at times in substitution of equity
•
Returns generated by the fund are
–
–
•
Interest ‐ fixed rate or fluctuate along an index (e.g. LIBOR) OR a pre agreed IRR
Upside potential through Equity
Illustrations:
19
20. Sector focused funds
•
Real estate funds
–
•
Focus on investments in real estate and real estate intensive businesses
Infrastructure funds
–
Roadways
–
Port projects
–
Railway projects
–
Power projects
–
Telecom
–
Logistics
20
21. Key Differentiators
Particulars
Stage
Level of risk
Assessment Focus
Investment Size
Angel Investors
Very Early
Very High
Mostly Technology
< $ 1 Mn
Venture Capital
Early
High
Mostly technology
< $ 10 Mn
Private Equity
Growth
Moderate
Diversified
> $ 10 Mn
Buyout‟s
Mature
Moderate
Diversified
> $ 50 Mn
All stages
Moderate
Diversified
> $ 5 Mn
Mezzanine
21
22. General Process
Stage
Preparation
3-4 weeks
Investor
Identification
Term Sheet
3-5 weeks
4-6 weeks
Final negotiations
and Closing
4-6 weeks
Timing
Process » Understanding
and evaluating
historical
performance
» Recast of
Historical
numbers; if
needed
» Preparation of
IM and
Projections
» Industry
Overview
Total Time
14 – 21 weeks
» Identify target
Investors
» Share
Information
» Follow-ups
» Promoter
Meetings
» Plant visits
» Negotiate
valuations and
other terms of
the
transaction
Sign NDAs
22
» Due Diligence
» Definitive
Agreements
Sign Term Sheet
» Pre & Post
Closure
formalities
Sign Definitive Agreements
24. Structures and Instruments
Primary Investment
•
Involves fresh infusion of capital in the company against issue of fresh shares to augment future
growth
•
Ideal for growth companies
Secondary Investment
•
Involves payment to existing shareholders of the company
•
Could be either on account of buying out or providing some liquidity to existing shareholders
•
Ideal when promoters wants to cash out (fully or partially) or buyouts
24
26. Exit Options
•
•
Three important pillars
Modes of exit
–
Valuations
–
Initial Public Offering (IPO)
–
Timings
–
Exit via M&A
–
Restrictions, if any to exit
–
Sale to another investor
–
Secondary sale on stock markets
–
Buy Back / Call / Put Option
Nature of Exit
2009
2010
Volume
Value (US$ Mn)
Volume
Value (US$ Mn)
Initial Public Offering
2
31.64
15
502.22
M&A
18
157.97
40
1,238.13
Open Market
69
1,390.10
76
1,448.54
Secondary Sales
8
78.17
18
160.85
Buyback
6
500
15
1,695.32
103
2,158
164
5,045
Total
Source: VCEdge
26
27. Advantages
•
Fills funding gaps for long term capital
•
No interest cost. Seeks return through capital appreciation rather than immediate and regular interest
payments
•
Adds value because, apart from funding, PE contribution includes:
–
–
Networking and Global Integration
–
Confidential as compared to IPO or even debt funding
–
•
Financing expertise and strategic management support
Independence of the capital markets volatility
Positive signaling effects to the market:
–
Debt, IPO
–
M&A
–
Employees, Suppliers and Customers
–
Increases Industry Visibility
•
Corporate Governance
•
Relatively less expensive fund raising exercise in comparison to IPO
27
28. Disadvantages
•
Raising Private Equity finance is demanding, time consuming; at times the business may suffer if
promoter devotes more time for the transaction
•
Depending on the investor, promoters may lose a certain amount of power to make management
decisions
•
Will have to invest management time to provide regular information for the investor to monitor
•
Might create conflict or differing opinion in long‐term strategy due to pressures of EXIT from the
investor
•
The cost of complying with regulations could be relatively higher
•
Non‐alignment of Interest of fund manager on the board and entrepreneur could hamper the growth
of company
28
29. Important factors for consideration
Growth Potential
Exit
Market Positioning
Returns
Management Bandwidth
Stage / Sector /
Structure
Historical Performance
Competitive Scenario
Project Period
Industry Trends
29
30. PE at Crossroads…
•
PE operating in a challenging environment today
•
Difficult fund raising environment
•
A large number of India focused funds were raised during 2004-06. Many of these are due to raise their
next fund
•
Funds with dry powder putting monies to work in environment beset with intense competition
•
Tremendous competition amongst funds to win deals resulting in bid war
•
Expensive entry valuation continues to frustrate
•
Investments by real estate funds have reduced - slowdown in sales & high borrowing cost continue to
plague the sector
Number of funds raised and announced
Value of funds raised and announced ($ Mn)
Particulars
2010
16,853
Announced
Announced
52
51
Funds Raised
17,828
2011
Funds Announced
2011
2010
10
25
Source: Economic Times on 6th January, 2011
4,111
2,024
Raised
Raised
30
31. PE at Crossroads… (contd.)
•
Deep inventory of future exits in the PE pipeline
–
PE exits will take a lot of PE manager‟s time, energy and
bandwidth
–
Approximately 68% of PE deals made through boom years of
2006-08 remain in PE funds‟ portfolios
–
Now reaching the upper end of their investment holding periods,
many of these holdings should soon be coming up for sale
–
PE exits account for only 20% of PE activity in 2011, indicating
strong potential for M&A transactions in the coming years. Also
reflected in increased preference towards exit through M&A route.
More than 100% rise in instances of exit through this option in
2010 over 2009
•
Source: Economic Times on 6th January, 2011
Funds will look to learn from past and spend greater time on deal evaluation and make investment
decisions based on merits rather than sentiments
•
PE firms also expected to spend considerable time on their portfolio management as holding periods have
been stretched
31
32. PE at Crossroads… (contd.)
•
Motivation for PE players to provide high yield debt finance continues to grow. Such endeavors
undertaken to cater to all investment needs of promoter, debt & equity
•
Increased activity in PIPES deals
–
Volatile capital markets in 2011
–
Conventional fund raising options for listed companies not available
–
New Takeover code provides a boost for PE funds
–
Greater number of listed companies expected to source growth capital needs from PE
•
Early stage investing is in the limelight & will continue to gain momentum
•
Deals in cloud computing, clean technology, online commerce and technology enabled services such as
mobile & online advertising, analytics and data management business will continue to attract Venture
Capital funding
•
Strong growth potential for Venture Capital, Buyout funds and Pre-IPO / late stage placements
32
