Lightspeed Venture Partners and DST Global founder Yuri Milner have backed a $50 million Series B round for Indian B2B e-commerce start-up Udaan. It follows a $10 million Series A led by Lightspeed in 2016.
Capillary Technologies, an Indian cloud-based software provider that focuses on customer relationship management (CRM), has raised $20 million from existing investors including Warburg Pincus and Sequoia Capital.
Indian education technology start-up IMAX Program has received a $13.5 million funding round from a group of venture investors including the Michael & Susan Dell Foundation (MSDF).
Mahindra & Mahindra will invest up to INR1.76 billion ($27 million) in Zoomcar as part of a $40 million round for the Indian car-rental start-up. The rest of the capital comes from existing backers.
Indostar Capital Finance (ICF), an Indian non-banking finance company (NBFC) backed by Everstone Capital and other PE investors, has filed for an IPO.
Fullerton Financial Holdings has led an $87 million Series C round for Indian financial technology platform Lendingkart.
Omnivore Partners has reached a first close of $46 million on its second fund targeting agriculture investments in India.
Sistema Asia Fund, a VC unit of Russian conglomerate Sistema, has led a $12 million Series B funding round for Indian fitness lifestyle app operator HealthifyMe.
Indian GP Faering Capital is seeking $200 million for its third growth capital fund, with a hard cap of $250 million.
B Capital Group, a venture capital firm established by Facebook co-founder Eduardo Saverin, has raised $360 million for a fund focused on start-ups that are ready to scale globally.
Indian online food-ordering and delivery platform Swiggy has raised a $100 million Series F round led by South African internet giant Naspers Group, with participation by China-based online-to-offline (O2O) local services provider Meituan-Dianping.
Mintoo Bhandari (pictured), the head of India for Apollo Global Management, is planning to scale back his involvement at the firm to focus on social impact investing.
French IT services company Capgemini has acquired US-based customer engagement firm LiquidHub, providing an exit for Indian private equity firm ChrysCapital.
India-based food processing company Capricorn Food Products has filed for an IPO that will provide a partial exit for private equity backer Quadria Capital.
Warburg Pincus has called off a planned $360 million investment in Tata Technologies, the engineering outsourcing and product development IT services arm of Indian conglomerate Tata Group.
Indian mobile game platform Nazara Technologies has filed for an IPO that will provide an exit to its private equity backer WestBridge Capital Partners.
India’s latest Union Budget promises strong support for domestic entrepreneurs and venture capital investors, but provides few specific measures to benefit the private equity industry.
Chinese online retailer Alibaba Group has led a $300 million funding round for Indian online grocer Bigbasket.
Standard Chartered Private Equity (SCPE) has sold its stake in Sterlite Power, the power grid subsidiary of Sterlite Technologies, an India-listed transmission solutions provider for the telecom and power industries, via a buyback.
Accel Partners has invested $50 million in BrowserStack, an Indian IT company that supplies enterprise clients with internet and mobile software testing infrastructure.
LeapFrog Investments backs NeoGrowth Credit to provide financial backing for digital payments among Indian retailers
Despite favorable regulatory moves in recent years, Indian financial institutions remain reluctant to invest in private equity. Investors see room for optimism, but they know they are in for a long wait
Unilever Ventures, the corporate VC arm of Unilever, has committed $3 million in pre-Series A funding to Indian grocery delivery start-up Milkbasket.
PremjiInvest, the family office of Wipro Group chairman Azim Premji, has led a INR3.1 billion ($48 million) funding round for Indian mortgage lender Shubham Housing Development Finance, providing an exit for Accion International and Saama Capital.