Honasa Consumer (Mamaearth), founded by Gazal Alagh, leads the Practus Hurun India PE Performers 2022 ranking with an average growth of 491 per cent over last year. The report highlights private equity-backed companies that have demonstrated growth in financial performance.
Encube Ethicals, an integrated pharmaceutical company dedicated to topical formulations is ranked second in this classification reporting a growth of 343 per cent.
Ecom Express, a technology-enabled logistics solutions provider is ranked third with a growth of 283 per cent. At fourth place with 224 per cent growth comes Desiderata Impact Ventures (Progcap) and ranked fifth in the list is Acme Formulation, with 172 per cent growth.
Of the 125 companies in India that received single-round funding of more than $25 million in the calendar year (CY) 2021, Hurun Research Institute shortlisted 21 companies that fit the performance and funding criteria.
The investee company should be based in India and the company should have received an investment of at least $25 million during a single round.
Of the 103 investors who took part in investments across various funding rounds, Hurun Research Institute found 35 PE investors that have invested in companies featured in Practus Hurun India PE Performers 2022.
Having led investments in four companies in the list, including two unicorns, Sequoia Capital India, led by Ravishankar GV, is the top investor in the Practus Hurun India PE Performers 2022. Norwest Venture Partners, led by Niren Shah and Tiger Global Management, led by Alex Cook take the second spot with investments in three companies each.