Honasa Consumer (Mamaearth), founded by the SharkTank host Gazal Alagh, has topped the Practus Hurun India PE Performers 2022 - a report that ranks India’s best-performing PE-backed companies.
Honasa Consumer made it to the top of the list with an average growth of 491 percent over the last year. Encube Ethicals, an integrated pharmaceutical company dedicated to topical formulations is ranked second with a growth of 343 percent.
The report, released on August 23, highlights private equity-backed companies that have demonstrated growth in financial performance as well as ‘investors who have backed these high performers’.
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Ecom Express, a technology-enabled logistics solutions provider is ranked third with a growth of 283 percent.
At the fourth place, with 224 percent growth, comes Desiderata Impact Ventures (Progcap), invested by Tiger Global Management, Sequoia, and Creation Investments Capital Management. Ranked fifth in the list is Acme Formulation, with 172 percent 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.
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 on 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.