In 2021, technological innovations, differentiated business models, and a liquidity flux drove transaction activity amid a record-breaking funding rush. PE activity reached an all-time high in 2021 and recorded 2,044 deals worth a whopping value of USD 64.9 billion, up by 44 per cent in volume and 53 per cent in value from 2020. This has led to the rise of 42 unicorns in 2021.