South Asia
Asia IPOs gone cold: India edition
A compilation of India-based IPOs - some of them private equity-backed - that have been withdrawn or appear to have fallen behind schedule
Bain exits India maritime logistics business to German strategic
Bain Capital has sold its stake in J.M. Baxi Ports & Logistics, an India-based provider of maritime logistics, to Germany-headquartered shipping and container transportation company Hapag-Lloyd for an undisclosed sum.
ResponsAbility hits $173m first close on Asia food fund
Swiss impact investor ResponsAbility has reached a first close of USD 173m for a South and Southeast Asia-focused sustainable food private equity fund. The target is USD 400m.
India's PhonePe raises $350m at $12b valuation
General Atlantic has invested USD 350m – at a pre-money valuation of USD 12bn – in PhonePe, a digital payments platform that spun out from Indian e-commerce marketplace Flipkart.
India's 360 One buys Mumbai Angels, launches two funds
Bain Capital-backed 360 One, which rebranded from IIFL Wealth & Asset Management last November, has acquired a 91% stake in Mumbai Angels as the seed investor launches two new funds.
Deal focus: Secondary investors support Capital Square, Basil merger
Capital Square Partners and Basil Technology Partners have joined forces, with HarbourVest Partners, NewQuest Capital Partners, and Committed Advisors backing a USD 700m fund comprising Asia IT services investments from both GPs
Avatar Growth leads Series C for India's Mad Street Den
Avatar Growth Capital, a private equity firm specialising in bringing Indian tech to global markets, has led a USD 30m Series C round for US and India-based retail services player Mad Street Den.
India's Lighthouse seeks $425m for Fund IV, gets NIIF commitment
Lighthouse Funds is targeting INR 35bn (USD 425m) for its fourth India fund and has signed up the country’s National Investment & Infrastructure Fund (NIIF) as an anchor LP.
Singapore's Lighthouse Canton hits first close on venture debt fund
Singapore Lighthouse Canton has reached a first close of USD 20m on its first venture debt fund, which will target Southeast Asia and India. The target is USD 100m.
4Q analysis: Who wants China?
Pan-regional GPs get traction by highlighting their Asia ex-China credentials; buyouts rebound as growth capital – and China – continue to recede; India impresses with bumper exit proceeds
Norwegian climate fund backs India waste-to-energy player
A climate fund set up by Norwegian development finance institution Norfund has invested NOK 600m (USD 60.5m) in Indian solar and waste-to-energy company SEAL.
Investcorp leads $39m Series D for India's Wakefit
Investcorp has led a INR 3.2bn (USD 39.4m) Series D round for India’s Wakefit, which claims to be the largest D2C retailer of mattresses and bedding accessories.
India's IIFL Asset Management merges with Truscale
India-based alternative investment manager IIFL Asset Management (IIFL AM) has agreed to take ownership of TrueScale Capital, a venture growth firm established by Sameer Nath, formerly of Iron Pillar.
PAG's Shan emphasizes diversity, control in Asia private equity
Momentum has shifted towards geographically diversified pan-regional investors, control deals, and private markets following a decade dominated by China-centric funds, growth-stage technology plays, and public equities, Weijian Shan, chairman and CEO...
Accel backs India home construction start-up
Accel and fellow US venture firm Celesta Capital have led a USD 10m round for India’s Brick&Bolt, a consumer-facing end-to-end home construction platform.
India's Avataar hires partner from Alpha Wave Global
Avataar Venture Partners, an India-based investor in growth-stage B2B technology and software-as-a-service (SaaS) companies, has recruited Anirudh Singh from Alpha Wave Global as a partner.
Everstone, Goldman buy IT consulting player Cprime
India and Southeast Asia-focused private equity firm Everstone Capital has teamed up with Goldman Sachs Asset Management to acquire US-headquartered IT consulting business Cprime. The size of the transaction was not disclosed.
Carlyle buys India skincare, beauty platform
The Carlyle Group has acquired a majority stake in VLCC, an Indian skincare and beauty platform backed by Everstone Capital, for an undisclosed sum.
GP profile: LeapFrog Investments
LeapFrog Investments is broadly recognised as a pioneer of impact investing globally as well as an architect of the industry’s legitimising standards and controls. Asia has always been core
Deal focus: TR leads $150m multi-asset secondary for India's Samara
TR Capital first worked with Samara Capital on a single-asset continuation fund for Sapphire Foods India – and saw the local Yum Brands franchisor go public about three months after the deal was announced. It has now reunited with Samara for what amounts...
Advent joins Series D for India's KreditBee
Advent International has committed USD 100m to Indian lending start-up KreditBee as an extension to a Series D round announced last month.
ChrysCapital acquires US-India IT player Xoriant for $350m
India’s ChrysCapital Partners has acquired Xoriant, a US-headquartered but primarily India-based software engineering and IT provider, for about USD 350m.
Advent acquires majority stake in India's Suven Pharma
Advent International has agreed to acquire a 50.1% stake in India-listed drug industry supplier Suven Pharmaceuticals for INR 63.1bn (USD 761.5m) with plans to acquire an additional 26%.
TPG buys India's Poonawalla Housing Finance
TPG Capital Asia has agreed to acquire Poonawalla Housing Finance for a pre-money equity valuation of INR 39bn (USD 473m) and inject an additional INR 10bn to support growth.
