According to Reuters, global private equity company General Atlantic aims to invest $2 billion in India and Southeast Asia in the period of next two years after lowering valuations made the region’s startups more appealing.
Sandeep Naik, the president of General Atlantic’s business in India and Southeast Asia, said in an interview that the company is in early-stage investment conversations with roughly 15 companies in areas such as technology, financial services, retail, and consumer.
The startup market, particularly in India, is experiencing difficulties. Founders are struggling to raise financing after raising a record $35 billion in 2021, generating fears of falling valuations and driving some to slash employment.
General Atlantic is ready to ease its purse restraints after investing only $190 million in Indian companies in 2021, its lowest annual total ever, Naik said in an interview at the World Economic Forum in Davos, Switzerland.
