Private Equity and Venture Capital (PE-VC) funds invested $338 million across 10 deals in Tamil Nadu-based companies during the third quarter of 2023 (Q3 2023).
According to data shared by Venture Intelligence, a research service focused on private company financials, transactions, and their valuations, this represents a 21.76% decline compared to the second quarter of 2023 (Q2 2023). During Q2 2023, PE-VC funds pumped in $432 million across 21 deals.
Of the 10 companies that received funding in Q3 2023, nine are headquartered in Tamil Nadu, while one firm has moved its headquarters out of the State but continues to have the majority of its operations here.