South Asia
Carlyle passes $1b mark on fourth Asia buyout fund
The Carlyle Group has raised more than $1 billion for its fourth Asia buyout fund, having reached a first close of $700 million last December, according to sources familiar with the situation. The private equity firm is targeting a final close of $3.5...
India’s Satin Creditcare raises new VC funding, Lok Capital exits
Satin Creditcare Network, a New Delhi-based microfinance institution (MFI) has raised INR410 million ($7.49 million) from three venture capital firms’ three funds. The transaction facilitates the exit of Lok Capital, an early investor in the company.
Indix raises $4.5m from Nexus, Avalon
Nexus Venture Partners and Avalon Ventures have jointly committed $4.5 million to Indian data and analytics start-up Indix.
Indiareit makes two investments, plans new fund
Indiareit Fund Advisors, the real estate PE arm backed by Indian entrepreneur Ajay Piramal, has invested INR2 billion ($37 million) in real estate projects and is reportedly set to launch a $300 million offshore fund next month.
Hassad backs India's Bush Foods, Standard Chartered exits
Hassad Food, a unit of Qatar Investment Authority (QIA), has acquired a majority interest in India-based basmati rice producer Bush Foods Overseas. The transaction facilitates the exit of Standard Chartered Private Equity (SCPE), which invested INR1.1...
India’s Just Dial wins IPO approval
Indian search engine Just Dial has won approval for its IPO, putting VC backers Sequoia Capital, SAIF Partners and Tiger Global on course for a partial exit.
NVP pumps another $8m into Pepperfry
Norwest Venture Partners (NVP) has led a second round of funding for Mumbai-based online lifestyle store Pepperfry.com, putting in $8 million.
India’s Zephyr Peacock buys 25% of pre-fab buildings maker
Zephyr Peacock India has bought a 25% stake in Pennar Engineered Building Systems (PEBS) for INR500 million ($9.19 million).
Brick eagle to invest $50m in India real estate
Hong Kong-headquartered Brick Eagle Capital Advisory is planning to invest around $50 million in Indian real estate.
Q&A: Baring Private Equity Asia's Jean Eric Salata
Baring Private Equity Asia closed its fifth fund at $2.46 billion in early 2011. CEO Jean Eric Salata tells AVCJ why the firm has taken its time investing the capital and where he now sees value emerging in the market
Canaan Partners to invest $100m in Indian tech
Silicon Valley venture capital investor Canaan Partners is to invest $100 million in India over the next four years from its $600 million ninth fund.
New Silk Route’s Rajat Gupta sues co-founder
Rajat Gupta, the former Goldman Sachs director who was convicted last year of insider trading, is taking legal action against his co-founder of private equity firm New Silk Route (NSR), claiming breach of contract.
CVCI invests in BPO firm SourceHOV, Apollo exits
Citi Venture Capital international (CVCI) has invested in SourceHOV, a largely India-based business process out-sourcing (BPO) firm. The deal will see CVCI buy out other minority shareholders including Apollo Global Management. The value of the deal has...
Quadria Capital buys India’s Milestone Religare
Quadria Capital, which is currently raising a healthcare fund focused on South Asia and Southeast Asia, has acquired Milestone Religare Investment Advisors. Milestone Capital, joint owner of the asset alongside Religare Enterprises, had been looking for...
AID Partners invests in Prime Focus' movie special effects unit
Hong Kong-based private equity firm AID Partners has invested $10 million in Prime Focus World (PFW), a global entertainment services company and wholly-owned subsidiary of Indian media company Prime Focus.
Profile: Providence Equity Partners' Bis Subramanian
A former electrical engineer and Intel employee, Bis Subramanian's sector expertise made him a perfect for Providence Equity Partners, even more so when the firm took its first steps into Asia
CPPIB prefers India to China as infrastructure play
Canada Pension Plan Investment Board (CPPIB) expects to make more progress in Indian infrastructure as opportunities in the sector in China are limited by the availability of cheap finance, which enables local governments to develop projects without foreign...
Motilal Oswal invests $6.5m in Magicrete
Motilal Oswal Private Equity has invested INR350 million ($6.5 million) in Magicrete Building Solutions, India's second largest manufacturer of Autoclave Aerated Concrete (AAC) Blocks.
India's Saama Capital invests in AgreeYa
Saama Capital has invested in AgreeYa Mobility, an enterprise-mobility company, to aid the development of its flagship product. Details of the transaction were not disclosed.
Arch Capital exits India real estate project to Mahindra Lifespaces
Mahindra Lifespaces has bought back Arch Capital's 49% stake in a real-estate joint venture based in the Indian city of Chennai.
Strong demand for Carlyle-backed Repco Home Finance IPO - update
The public issue of Repco Home Finance (RHF), which is backed by The Carlyle Group, Wolfensohn Capital Partners and Creador, was over-subscribed on its final day on Friday.
Indian Angel Network invests in RankJunction.com
Indian Angel Network (IAN) has invested in RankJunction.com, a ranking platform for competitive exams. Details of the transaction were not disclosed.
AVCJ at 25: Luis Miranda of IDFC Private Equity
Luis Miranda became CEO of a fledgling IDFC Private Equity in 2002, raised India’s first infrastructure fund, and helped prove that the sector can make money. A flood of new capital arrived and the country is still adjusting to it
AVCJ at 25: Renuka Ramnath of Multiples Alternative Asset Management
Renuka Ramnath, founder and CEO of Multiples Alternative Asset Management, helped kick-start India VC as ICICI Venture grew from a small-scale backer of internet start-ups into the country’s leading private equity firm