Private fund raising by Indian Internet Companies aggregated to US$784mn in 2QFY17, down sharply compared to US$2.6bn+ raised in 2QFY16 but up from US$450mn raised in 1Q. The highlight of the quarter was a US$175mn fund raise by Hike, a social messaging app, from Foxconn, Tencent, Softbank, Tiger and Bharti which valued the company at over US$1bn. Yatra's acquisition and reverse merger with Terrapin was the other major deal during the quarter and would lead to at least US$100mn being infused into Yatra's balance sheet.
Biggest fund raising in CY16 YTD
1 Feb-16 Ibibo group 250 Mn from Naspers, Tencent
2 Feb-16 Snapdeal 200 Mn from The Ontario Teachers? Pension Plan, Iron Pillar
3 Aug-16 Hike 175 Mn from Bharti Enterprises, Tiger Global Management, Foxconn,Tencent
4 Mar-16 Bigbasket 150 Mn from Abraaj Group, Ascent Capital, Bessemer VP, Hellion VP, IFC, Sands Capital, Zodius Capital
5 Jan-16 CarTrade 145 Mn from Temasek, March Capital, Warbug Pincus
6 Jan-16 ShopClues 130 Mn from GIC, Tiger Global, Nexus VP
7 July-16 Yatra 100 Mn from Terrapin 3 Acquisition Corp
