A study on private equity investment growth and infrastructure in India
Keywords:
private equity, venture capital, infrastructure, investmentsAbstract
We use to investigate the investment criteria of 749 private equity investors, growth equity funds, and leveraged buyout funds. Our results indicate that revenue growth is the most important investment criterion, followed by the value-added of product/service, the management team's track record, and profitability. Regarding differences across investor types, we find that family offices, growth equity funds, and leveraged buyout funds place a higher value on profitability as compared to business angels and venture capital funds. Venture capital funds, in turn, pay more attention to companies' revenue growth, business models, and current investors. With these results, our study contributes to the corporate finance literature by deepening our understanding of how different types of private equity investors make investment decisions.
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References
Bloom, N., Sadun, R., & Van Reenen, J. (2015). Do private equity owned firms have better management practices? American Economic Review, 105( 5), 442–446.
Jeffery Delmon, Private Sector Investment in Infrastructure- Project Finance, PPP Projects, and Risk (Kluwer Law International, Wolters Kluwer, Law and Business, Netherlands, 2nd Edition, 2009).
Schwienbacher, A., 2007. A theoretical analysis of optimal financing strategies for different types of capital constrained entrepreneurs.
Smith, T. D. (2018). Private equity investment in India: Efficiency vs expansion. https://papers.ssrn.com/sol3/papers.
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