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Private Equity firm General Atlantic eyes USD2bn investment in SE Asia, India

Global private equity firm General Atlantic has announced its plan to invest USD2bn in India and Southeast Asia over the next two years after falling valuations made the region's startups more attractive. Sandeep Naik, the head of its business in India and Southeast Asia, said General Atlantic is in early-stage investment talks with about 15 companies in sectors including technology, financial services, retail, and consumer. Naik said that after investing just USD190m in Indian startups in 2021, its lowest ever annual figure, General Atlantic is now ready to loosen its purse strings. Naik added that General Atlantic is very bullish on India, Indonesia, and Vietnam. Its existing high-profile Indian investments include education technology companies such as Byju's, which offers online tutoring in a country where internet and smartphone use is booming.

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