South Asia
Zodius reaches $110m first close on India VC fund
Indian venture capital firm Zodius Capital has reached a INR7 billion ($110 million) first close on its $500 million technology-focused fund being raised in partnership with Avendus Capital.
India's Edelweiss names Pranav Parikh as head of PE
Indian financial services group Edelweiss has appointed Pranav Parikh to lead its private equity, seed and venture capital funds business.
Tiger Global continues run of Just Dial share sales
Tiger Global continues to exit India-listed online business directory Just Dial, selling a 5.37% stake - half of its remaining 9.18% holding - for INR4.08 billion ($64 million) via an open market transaction.
Sequoia leads $16m Series B round for India's Akosha
Indian customer feedback platform Akosha has raised $16 million in a Series B round led by existing investor Sequoia Capital.
Tiger Global commits $5m to India tea chain Chaayos
Chaayos, a Delhi-based chain of teahouses, has raised $5 million in Series A funding from Tiger Global. Ola co-founders Bhavish Aggarwal and Ankit Bhati have also invested an undisclosed amount.
Future Consumer to exit salon chain, acquire MNS Foods
Indian venture capital firm Future Consumer Enterprise (FCEL) will exit its salon subsidiary Star & Sitara, and to acquire a controlling stake in confectioner MNS Foods.
Indian regulator approves Baring Asia's acquisition of CMS
Baring Private Equity Asia has received permission from India's Competition Commission to acquire ATM management service CMS Info Systems, providing an exit for The Blackstone Group.
TPG sells Shriram City Union Finance stake to Apax
TPG Capital has sold its 20.37% stake in Indian non-banking finance company Shriram City Union Finance (SCUF) to Apax Partners. Based on the May 12 closing price of INR1,719, it was worth around INR23 billion ($360 million).
CEO of India's Housing.com transfers all his shares to staff
Rahul Yadav, the controversial CEO of VC-backed Indian property listing platform Housing.com, has said he will transfer all his shares in the company to its employees.
Mandala commits $15m to India's Godavari Biorefineries
Mandala Capital has invested $15 million in India's Godavari Biorefineries, a producer of foods, biofuels, specialty chemicals and power.
SIDBI, Maharashtra government form $31m start-up fund
The government of the Indian state of Maharashtra has paired with the Small Industries Development Bank of India (SIDBI) to set up a INR2 billion ($31.1 million) venture fund for micro, small and medium enterprises (MSMEs).
Korea's Posco, Green Cross lead round for US-based Juventas
South Korea-based Posco Capital and biopharmaceutical player Green Cross have led a $7.5 million round for Juventas Therapeutics, a clinical-stage biotech development company based in the US.
India e-commerce: Grocery growth spurt
There has been a proliferation of start-ups in India’s online grocery sector, and investors have taken notice. But the companies that survive in the harsh competition to come will have to be tough
India IPOs: Staying afloat
India’s public markets are at record highs, but IPO activity remains lackluster. Investors want an overhaul of the listings approval process and a regulatory system that is suited to PE and VC-backed companies
Lightspeed to raise dedicated India venture fund
US-based Lightspeed Venture Partners is looking to raise $115 million for its first India-focused fund.
Nexus raises $434m for two India VC funds
Nexus Venture Partners has closed its fourth India venture capital fund at $304 million and raised a further $130 million for a top-up fund focusing on later-stage investments in existing portfolio companies.
VC investors commit to Indian online education start-ups
Two Indian online education start-ups have received venture capital funding, with Toppr raising a $10 million round led by Fidelity Growth Partners and Vedantu attracting $5 million in Series A funding from Accel Partners and Tiger Global.
Indian's Box8 raises $3.5m Series A from Mayfield
US early stage investor Mayfield has led a INR210 million ($3.3 million) Series A round of funding for Poncho Hospitality, the start-up behind Indian quick service restaurant (QSR) chain and on-demand food delivery services firm Box8.
India's Delhivery gets $85m Series D round
Tiger Global has led a Series D round for Indian e-commerce logistics service Delhivery that netted the company $85 million. Existing investors Multiples Alternative Asset Management, Nexus Venture Partners and Times Internet also participated.
Softbank-backed Housing.com sees boardroom spat resolved
Rahul Yadav, the CEO of Indian property listing platform Housing.com has withdrawn his resignation from the start-up and issued an apology to its VC investors - which include SoftBank - after a very public spat.
Actis agrees exit from India's Phoenix Lamps
Private equity firm Actis has reached an agreement to exit its stake in Indian automotive lighting manufacturer Phoenix Lamps to cable maker Suprajit Engineering.
LP interview: CDC Group
Four years ago, controversy and political pressure forced the UK’s CDC Group into a major shift in strategy. Managing Director Alagappan Murugappan explains how the development fund has evolved since then
PE-backed Numero Uno files for India IPO
Indian apparel retailer Numero Uno Clothing has filed for an IPO, hoping to raise INR650 million ($10 million) and providing a partial exit for its backer, AA Indian Development Capital Advisors.
India's Fortis to sell Singapore unit for $83.5m
India's Fortis Healthcare will sell its Singapore-based diagnostics arm RadLink-Asia to Fullerton Healthcare Group for S$111 million ($83.5 million).