South Asia
Sequoia, ChrysCapital to exit India's Curatio
Sequoia Capital India and ChrysCapital Partners are set to exit Indian skincare brand Curatio, with Torrent Pharma agreeing to acquire 100% of the company for INR 20bn (USD 245m).
India's Molbio secures Temasek backing, becomes unicorn
India’s Molbio Diagnostics, a medical equipment maker best known for its COVID-19 testing systems, has raised a USD 85m round featuring Temasek Holdings at an enterprise valuation of USD 1.6bn.
OTPP opens Mumbai office
Ontario Teachers’ Pension Plan (OTPP) has opened an office in Mumbai, adding India to an Asian footprint that currently includes bases in Hong Kong and Singapore.
India's True North buys stake in TA-backed Accion Labs
Indian middle market private equity firm True North has acquired a significant minority position in US and India-based IT provider Accion Labs from TA Associates for USD 93m.
India mass market: Bharat dreams
A labyrinth of logistical, cultural, competition, and business modelling challenges is curbing private equity appetite for India’s quickly modernising proletariat
LP interview: Partners Capital
Nearly a decade after establishing a foothold in Asia, Partners Capital has acquired a string of local clients and devised a distinct, middle market-oriented approach to deploying capital in the region
India gifting platform secures $23m Series B
Join Ventures, an India-based company that owns a portfolio of direct-to-consumer gifting brands, has raised USD 23.5m in Series B funding led by Motilal Oswal Alternate Investment Advisors.
India insurance start-up Zopper raises $75m
Indian private equity firm Creaegis has led a USD 75m Series C round for local insurance technology provider Zopper.
Fundamentum leads round for India's Kuku FM
Indian growth-stage investor The Fundamentum Partnership has led a USD 21.8m Series B extension for audio platform Kuku FM.
KKR leads $450m investment in India's Hero Future Energies
KKR has led a USD 450m investment in Indian renewable energy company Hero Future Energies (HFE), with parent company Hero Group also participating.
PE-backed Mankind Pharma files for India IPO
Indian drug maker Mankind Pharma has filed for a domestic IPO, setting up an exit for Capital International, a private equity arm of Capital Group.
Indonesia’s Fazz raises $100m Series C
Indonesia’s Fazz, a financial services provider for Southeast Asia micro businesses, has raised a USD 100m Series C round featuring Tiger Global, DST Global, and B Capital Group.
Everstone buys India's Softgel Healthcare
Everstone Capital has acquired a controlling stake in Indian pharmaceuticals manufacturer Softgel Healthcare (SHPL) for an undisclosed sum.
Billionaire Venture, DBS to invest $200m in India start-ups
India’s Billionaire Venture Capital and DBS Bank have agreed to invest USD 200m in 150m Indian start-ups via a special purpose vehicle and joint venture (JV).
Affirma joins $40m round for India air conditioning supplier
Affirma Capital has joined a USD 40m investment in India’s Epack Durable, a leading domestic designer and manufacturer of air conditioning units among other home appliances.
Bessemer closes latest global VC fund on $3.85b
US-based Bessemer Venture Partners, which is currently expanding a longstanding presence in India, has closed its latest global VC fund with USD 3.85m in commitments.
Q&A: Unitus Ventures’ Surya Mantha
Indian returns-focused impact investor Unitus Ventures is sharpening its thesis around jobs as it celebrates its 10-year anniversary. Surya Mantha, a managing partner at the firm, traces the evolution
GIC leads $51m round for India space start-up
GIC Private has led a USD 51m Series B round for Indian rocket developer Skyroot Aerospace. It is being touted as the largest round yet in the local space-tech market.
Deal focus: Jai Kisan taps India rural resurgence
The founders of technology-enabled credit platform Jai Kisan went against the grain by forgoing urban customers and targeting India’s rural poor. A USD 50m Series B is an indicator of its progress
Deal financing: Homegrown solutions
Private equity firms are relying more heavily on Asia-based debt investors to support leveraged buyouts amid a loan logjam in the US, highlighting the region’s innovation and durability
Novo Holdings leads $50m round for India's MedGenome
Novo Holdings, which manages the wealth of Denmark’s Novo Nordisk Foundation, has led a USD 50m investment in MedGenome, an India-based genetic testing business.
Accenture backs India space tech start-up Pixxel
Accenture has made an investment of undisclosed size in Indian satellite imaging provider Pixxel via a VC unit. It follows a USD 25m Series A round in March.
Rise Fund, Norwest lead $110m Series D for India's EarlySalary
TPG’s Rise Fund and Norwest Venture Partners have led a USD 110m Series D round for EarlySalary, which claims to be India’s largest consumer lending financial technology start-up.
Fund focus: Fundamentum finds its niche
As one of few Series B and C specialists operating in India, The Fundamentum Partnership expects to have plenty to choose from over the next two years as the glut of early-stage start-ups thins out
