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General Atlantic looking to invest up to half a billion dollars in India

General Atlantic

Private Equity firm General Atlantic is planning to invest close to half a billion in India, the firm’s CEO Bill Ford told The Economic Times. Ford also mentioned that they have identified 6 sectors as possible investment targets including, financial services, retail, healthcare, data-driven business process outsourcing, internet advertising and mobile internet.

General Atlantic had invested $108 million in Bangalore-based big data and analytics solutions provider Mu Sigma in December 2011. The PE firm has also invested in Mumbai-based healthcare technology solutions provider Citius Tech, IndusInd Bank and Trivandrum-based IT solutions provider to travel, transportation and logistics companies IBS Software among others in India. General Atlantic has so far invested about $2 billion in 15 companies in India including Genpact, Patni Computers and Hexaware, which the PE firm has since exited.

It’s worth noting that General Atlantic had appointed Sandeep Naik as managing director and head of the firm’s Mumbai office, in December 2012. Naik was responsible for General Atlantic’s investment advisory activity in India.

This development comes at a time when online businesses in India, especially e-commerce companies, have been attracting a lot of investments. Flipkart alone raised $1.91 billion in 2014, and Amazon had said it was going to invest $2 billion in India, earlier last year. Snapdeal had also raised over $850 million in 2014, including $627 million from SoftBank Internet and Media Inc (SIMI) in October, $100 million in May and $133.77 million in February.

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