It may be noted that investors from Saudi have not been a big participant, via direct investments, in the Indian PE-VC space. They have to some extent made indirect investments - i.e served as LPs - in PE-VC funds investing in India. Investors from Saudi Arabia have directly invested $1.5 billion in 2020.
Until 2010, with the notable exception of Singapore (via Temasek and GIC), the Indian PE-VC investing landscape was largely led by US-based/linked investors. With Warburg Pincus and Carlyle leading the way in the PE segment and Sequoia Capital and later, Tiger Global, in the VC segment. Japanese investments - led by SoftBank
and strategic investors like Mitsui - kicked off in 2011 and continued to pick up momentum during the decade, led by financial investors especially in the VC segment.
Mainland China-based investors like Alibaba, Tencent
and Fosun Group started to make investments in 2015 and over the next few years became an important source of large sized capital to Internet & Mobile companies.
While there was a steadily growing interest to invest in India from the Middle East SWFs, their main preference (until 2019) was on the infrastructure segments. Their role has been somewhat overshadowed by Canadian investors - like CDPQ, CPPIB and Brookfield - came in with more fire power and conviction, not to speak of Fairfax Holdings.
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