South Asia
PE-backed Prabhat Dairy, Dilip Buildcon file for India IPOs
India's Prabhat Dairy and Dilip Buildcon have filed for IPOs, providing an opportunity for their private equity backers to make partial exits.
Top Standard Chartered banker quits to raise PE fund
Viswanathan Shankar, Standard Chartered's group executive director and CEO for Europe, Middle East, Africa and Americas is leaving the firm to set up his own private equity fund.
India Value Fund Advisors in $500m first close on Fund V
India Value Fund Advisors has reached a first close of $500 million on its fifth Indium fund, which has a hard cap of $700 million.
Mandala backs Indian agriculture finance business
Mandala Capital has invested INR1.1 billion ($17.9 million) in Sustainable Agro-commercial Finance (SAFL), a agriculture-focused non-banking financial company (NBFC) controlled by India's Jain Irrigation Systems (JISL).
IDFC Alternatives to buy stake in Indian power project
IDFC Alternatives has agreed to buy a 23.5% stake in ONGC Tripura Power Company (OTPC) for INR4.26 billion ($68.5 million). The purchase will be made through the India Infrastructure Fund II.
Everstone buys Aon Hewitt's Asia payroll business
India and Southeast Asia-focused GP Everstone Capital has acquired Aon Hewitt’s Asia Pacific payroll business for an undisclosed sum.
Creador to seek $450m for Fund III
Creador is preparing to launch its third Southeast Asia- and India-focused fund with a target corpus of $450 million. This comes barely eight months after the GP closed its second fund at $330 million.
India's AppsDaily raises 16m Series C from Zodius, others
Zodius Capital has led a $16 million Series C round for Indian mobile app developer and distributor AppsDaily, with participation by current investors Kalaari Capital, ru-Net Ventures and Qualcomm Ventures.
Mayfield, Kalaari back India-based travel itinerary site
Kalaari Capital and Mayfield have committed $3 million in Series B funding to Indian travel planning site TripHobo.
India microfinance: Acorns to oaks
Several large funding rounds – plus the birth of a new bank – have shown how far India’s microfinance institutions have come in just four years. But more is to come, and more VC backing will be required
PEs seek a harvest in rural India
A tractor is one of the most versatile tools on a farm, but it is out of reach for many in rural India because they have no access to credit.
India's LimeRoad raises $30m Series C round
Tiger Global has led a $30 million Series C round of funding for India LimeRoad, an online social discovery platform aimed at women. Lightspeed Venture Partners and Matrix Partners India also took part in the round.
Magma Fincorp raises $80m from KKR, Leapfrog, IVFA
Magma Fincorp, an Indian non-banking finance company (NBFC), has raised INR5 billion ($80 million) from KKR, LeapFrog Investments, and India Value Fund Advisors' (IVFA) Indium V.
India's IL&FS divests stake in Maharashtra Natural Gas
IL&FS Investment Managers has fully divested its stake in Maharashtra Natural Gas (MNGL) to Indraprastha Gas (IGL), securing a cash multiple of 4.1x.
Peesh Venture Capital launches $50m fund, India accelerator
Early-stage investor Peesh Venture Capital (PVC) has launched a $50 million fund and accelerator targeting Indian start-ups.
Tiger Global leads Series A for Indian social network Roposo
Indian fashion-centric social network Roposo has raised $5 million in Series A funding led by Tiger Global.
Indian condiments maker to back PE fund
Indian condiment maker Eastern Group will back a INR1.25 billion ($19.9 million) private equity fund in partnership with venture capital firm CapAleph Advisors.
PE investors to make partial exits from India's AGS, S.H. Kelkar
Three private equity firms – TPG Capital, Actis and The Blackstone Group – are set for partial exits from their Indian investments as payment solutions provider AGS Transact Technologies and fragrances manufacturer S.H. Kelkar both filed for IPOs.
Greenoaks leads $25m investment in India hotel marketplace
US investment firm Greenoaks Capital has led a INR1.5 billion ($24 million) investment in Oravel Stays, the start-up behind India-focused online budget hotel marketplace OyoRooms.com.
Indian online tea seller raises $6m
Indian tea retailer Teabox has raised $6 million in a Series A round led by JAFCO Asia, with participation from Keystone Group and Dragoneer Investment Group, and existing investor Accel.
Used-car platforms: The consumer counts
Online used car trading platforms in both India and China have received capital from private equity investors in the past week. The deals threw up a number of interesting industry statistics.
Accel raises $305m for India fund
Venture capital firm Accel Partners has raised $305 million for its fourth country-focused fund to invest in Indian start-ups.
India mobile payment start-up raises Series B round
India-based mobile payment provider Mosambee has raised a Series B round of funding from Rajasthan Venture Capital Fund (RVCF) and existing investor SIDBI Venture Capital.
TPG adds UTC executive to Asia operations team
TPG Capital has appointed Zubin Irani, previously of United Technologies Corporation (UTC), as a managing director within its Asia Pacific operations group.