South Asia
Helion, Ventureast invest in tech firm Selcore
Indian VCs Helion Venture Partners and Ventureast Proactive have made a joint investment in enterprise information rights management (IRM) provider Selcore. The financial details of the deal were not disclosed.
Somerset Indus invests in specialty hospital chain
Indian healthcare-focused PE firm Somerset Indus Capital Partners has invested in tertiary care hospital chain Cygnus Medicare. The investment will support the chain’s expansion across Haryana and the National Capital Region (NCR) surrounding Delhi.
IIFL Wealth raises $115m for maiden alternatives fund
IIFL Wealth Management, a division of financial company India Infoline, has received commitments of INR6.2 billion ($115 million) for its IIFL Income Opportunities Fund.
CX banks on India ATM opportunity
WITH MORE THAN 90% OF RETAIL transactions carried out in cash, India's growing consumer classes are in need of ATMs. However, there are only around 90,000 machines nationwide, which equates to just 59 per million people.
Caspian makes debt breakthrough
After two funds and $120 million invested in equity stakes in small- and medium-sized Indian microfinance institutions (MFIs), Caspian Advisors has decided to change direction. It is launching the country's first pure debt multi-sector fund aimed at the...
General Atlantic expands India team
Global PE firm General Atlantic has expanded its investment team in India with several new hires at its Mumbai office. The new hires include Shantanu Rastogi, who will be a principal with the firm, and associates Vijay Venkat and Varun Talukdar.
Motilal Oswal’s Ghosh moves on to start own fund
Somak Ghosh, co-chief executive with Motilal Oswal Private Equity Advisors (MOPE), has left the company to set up Contrarian Capital India Partners and establish a new early stage impact investment fund targeting $50 million.
SIDBI Venture Capital to invest $9m in defence MSMEs
SIDBI Venture Capital’s India Opportunities Fund will invest INR500 million ($9 million) in equity to support Indian micro, small and medium enterprises involved in manufacturing of defense products.
Reliance Com in talks to sell fibre optics unit to PE consortium
India's Reliance Communications is in talks with Samena Capital, and other global private equity funds, to sell a stake in Reliance Globalcom, its global communication services business.
Caspian launches its first debt fund
Caspian Advisors is targeting $40 million for the first pure debt fund in India's social impact segment. The Caspian Impact Investments (CII) fund already has $10 million in commitments from FMO, Triodos Doen and Hivos-Triodos Fund and Gray Ghost Microfinance...
IFC considers $25m commitment to Motilal Oswal PE fund
The International Finance Corporation (IFC) is considering an equity investment of up to $25 million in Motilal Oswal’s India Business Excellence Fund IIA, which offers growth equity capital to small- and medium-sized enterprises (SMEs) in India.
India's Essel launches $184m real estate fund
The private equity unit of India's Essel Financial Services is targeting INR5billion ($92 million) for its first real estate fund. It will invest in residential projects in large cities across the country.
KKR kicks tires, buys Alliance
India is expected to see an increasing number of secondary buyouts in the next couple of years as GPs look for ways to monetize existing portfolios in the face of a difficult public market environment. While KKR's acquisition of Warburg Pincus' majority...
Quadria carries the Milestone-Religare torch
For Amit Varma, buying Indian GP Milestone Religare was never part of the plan. He left financial services group Religare last year to set up Quadria Capital with Abrar Mir, formerly of NBD Sana Capital. They recently launched a debut fund, targeting...
CX Partners finalizes $22m investment in Transaction Solutions unit
CX Partners has finalized its acquisition of a 75% stake in the Indian ATM unit of Australia's Transaction Solutions International (TSI). The private equity firm has agreed to pay INR1.2 billion($22.13 million) for TSI India.
Omnivore Partners buys stake in India's Arohan Foods
Venture capital firm Omnivore partners has bought a significant minority stake in pork integrator Arohan Foods for an undisclosed sum. Assam-based Arohan works with pig farmers across Northeast India and retails pork products across the country.
Warburg Pincus invests in India's Avtec, Actis exits
Warburg Pincus has acquired a minority stake in Avetec, an Indian manufacturer of precision-engineered products, facilitating an exit for Actis. The value of the transaction was not disclosed.
Tano India backs Shree Shubnam Logistics
Tano Capital is set to invest INR800 million ($15 million) in Mumbai-based Shree Shubham Logistics (SSL) for an undisclosed stake, supporting the company's domestic expansion.
Baring PE India boosts stake in Manappuram Finance
Baring Private Equity Partners India has increased its stake in gold loan company Manappuram Finance to 9.71% through an open market transaction.
CanBank Venture invests $4.6m in India's Ashapura Garments
Canbank Venture Capital Fund (CVCF), the private equity unit of Canara Bank, has picked up an undisclosed stake in Gujarat-based Ashapura Garments for INR250 million ($4.56 million).
KKR pays $500m for Warburg's Alliance Tire Group stake
KKR has agreed to buy Warburg Pincus’ controlling stake in Indian tire make Alliance Tire Group. Terms were not disclosed, but sources familiar with the transaction told AVCJ that KKR will pay $450-500 million for an approximately 75% stake as well...
KKR to pay $500m for Warburg Alliance Tire stake – report
KKR has reportedly agreed to pay about $500 million for Warburg Pincus’ stake in Indian tire manufacturer Alliance Tire Group.
India’s Tata Consultancy Services buys PE-owned French IT firm
Two French private equity firms have exited IT services provider Alti to Tata Consultancy Services (TCS) for EUR75 million ($98 million) in cash as the Indian business outsourcing company seeks to broaden its footprint in Europe.
India’s Zephyr Peacock reaches second close on Fund III
India-focused GP Zephyr Peacock has reached a second close of $70 million on its third fund. The vehicle, which launched in November 2011, has a final target of $150 million. A first close of $50 million came one year ago.