Amazon has formed a $250 million fund that will invest in India-based small and medium-sized enterprises (SMEs) with a view to supporting nationwide business digitalization.
Pine Labs, an India payments start-up backed by MasterCard, PayPal, and Sequoia Capital India, has acquired Fave, a Malaysian counterpart also backed by Sequoia India, for $45 million.
New York makes an unexpected reappearance as the preferred IPO destination for Asian companies; the growth-stage tech investment revival continues; KKR lights up lackluster fundraising environment
Indian private equity firm True North has confirmed a partial exit from local insurance portal PolicyBazaar.
India’s Alteria Capital has achieved a first close of INR13.2 billion ($177 million) on its second venture debt fund. The target is INR15 billion.
Falcon Edge Capital has led a $110 million growth round for India’s OfBusiness, a B2B platform for industrial sector services, at a post-money valuation of $800 million.
Gupshup, an India-based messaging services provider that helps corporate customers execute marketing strategies, has raised $100 million in funding at a valuation of $1.4 billion.
Tiger Global Management has led a $502 million Series E round for ShareChat, which claims to be India’s largest social media platform, at a valuation of $2.1 billion.
Prosus Ventures and TPG Growth have co-led a $350 million Series E round for India’s API Holdings, best known as the parent of pharmacy portal PharmEasy.
SoftBank Vision Fund 2 has led a $300 million round for Meesho, India’s leading social e-commerce start-up, at a valuation of $2.1 billion.
Creador has completed a third exit – with a 3.7x multiple and a 32% IRR – from its third South and Southeast Asia-focused fund, selling a minority position in Indian pharmaceutical company Corona Remedies to ChrysCapital.
With the launch of its third fund a few weeks away, IvyCap Ventures leveraged strong investor interest in beauty e-commerce player Purplle to secure one of India’s largest rupee VC exits
Back-and-forth investment and business building between Asia and the Middle East is a fertile theme for private equity. Such activity appears set to steadily increase rather than boom
Sequoia Capital India has closed a second seed fund under its Surge accelerator program at $195 million. Like its predecessor, it will target start-ups in India and Southeast Asia.
Abu Dhabi-based Gulf Capital has committed $30 million to a plan that will see its global fertility services platform launch 18 clinics in India over the next 12 months.
KKR and Sequoia Capital India have led a $234 million investment in Indian non-banking financial company (NBFC) Five Star Business Finance at a valuation of $1.4 billion.
Baring Private Equity Asia is back in the market seeking $8.5 billion for its eighth pan-regional fund, less than 15 months after closing Fund VII at $6.5 billion.
Dream Sports, operator of India’s largest fantasy sports platform, has raised $400 million in funding led by TCV, D1 Capital Partners and Falcon Edge Capital. The post-deal valuation is nearly $5 billion.
The International Finance Corporation (IFC) has proposed a $25 million commitment to the fourth private equity fund from India’s Gaja Capital. The target corpus is $400 million.
European development finance institutions CDC Group and FMO and the Swiss Agency for Development and Cooperation (SDC) have jointly launched a market building platform in Nepal.
The merger of Ares Management and SSG Capital is among the largest ever seen in Asian alternatives. They are now pushing into new markets and segments, leveraging the combination of size and local resources
GPs are placing greater emphasis on Asia private debt strategies to capture deals that don’t work as private equity. Much can be achieved by pooling ideas and resources, but collaboration isn’t as straightforward as it seems
India’s non-bank financiers remain attractive investment targets as a convergence of macro and systemic shocks tests the market. Sturdy underlying drivers provide confidence as models evolve
The Carlyle Group has sold approximately one-quarter of its remaining 15.8% stake in SBI Cards & Payment Services – a year after the Indian company’s IPO – for INR39.4 billion ($543 million).