South Asia
Actis invests in Sri Lankan hospital chain
Emerging markets-focused private equity firm Actis has invested $32 million for approximately 30% of Asiri Hospital Holdings (AHH), Sri Lanka’s largest private hospital group. The company operates three facilities in Colombo and two in Matara, with...
Bonderman praises India finance minister
David Bonderman, founder of TPG Capital, has said that the change in the finance minister for India has enhanced sentiment about the country as a place to do business. His firm plans to put more effort into hunting down local investment opportunities...
IUVP rebrands as Kalaari Capital, closes $150m India VC fund
The founders of Indo US Venture Partners (IUVP) have established Kalaari Capital Advisors, a new fund manager that has raised a venture capital vehicle worth $150 million for the Indian market.
Everstone, JLL in India property management tie-up
Everstone Capital has reached an agreement with Jones Lang LaSalle India under which the property manager will assume responsibility for four shopping malls in Pune, Kochi, Vadodara and Ahmedabad. It will provide leasing services and oversee operations,...
VenturEast hires ex-DFJ partner to run India seed fund
India-focused VC firm VenturEast has hired Sateesh Andra, formerly a partner at Draper Fisher Jurvestan, to head up its seed-stage technology fund. His remit is to create a Silicon Valley-like incubation ecosystem and help companies tap into global venture...
IDFC reaps 2x on Gujarat Pipavav partial exit
IDFC Alternatives has sold off more than 4% of Indian container terminal Gujarat Pipavav Port for $18.7 million, reaping a money multiple of 2x on its initial investment.
Everstone to buy 35% of Indian publishing company - report
Everstone Capital is reportedly in talks to buy a 35% stake in S Chand Group, India’s leading publisher of textbooks and digital learning products. The deal is expected to be worth $30 million.
NVP invests $22m in Indian medical diagnostics firm
Norwest Venture Partners (NVP) has bought a 10% stake in India’s Thyrocare Technologies from the medical diagnostics services provider’s promoters for INR1.2 billion ($22 million).
OPIC commits $135m to two Indian funds
Two Indian private equity funds - IndoSpace Logistics Parks II and BanyanTree Growth Capital II – have received an overall commitment of $135 million from Overseas Private Investment Corporation (OPIC).
Goldman to sell Bangalore’s Four Seasons Hotel - report
Goldman Sachs is reportedly in formal talks to sell its 73% stake in Bangalore's Four Seasons Hotel in a deal that would fetch up to INR8 billion ($150 million).
NVP, Sequoia lead Series A round for India’s Capillary Technologies
Norwest Venture Partners (NVP) and Sequoia Capital have led a $15.5 million Series A round of funding for Capillary Technologies, an India-based cloud computing services provider. Existing investor Qualcomm Ventures also participated.
IDFC PE seals India’s largest dairy investment
India's dairy sector is rich in opportunity. Currently worth $70 billion, it is growing at 10% a year and is expected to reach $150 billion by 2020. The country is now the world’s largest producer of dairy goods and accounts for close to 20% of global...
Private equity taps Indian water
India is thirsty for capital to ease water shortages. The infrastructure investment opportunity is enormous, but the regulatory environment remains uncertain
Indian realty GPs show their distress
India’s real estate industry is facing tough times amid rising debt costs and tighter credit access. But why are the private equity owners more distressed than the assets themselves?
China, India companies beat PE to Digital Domain assets
China’s Galloping Horse Film and India’s PE-backed Reliance MediaWorks have teamed up to acquire assets from Digital Domain Media Group, the distressed Hollywood special effects company, for $30.2 million. The Sino-Indian joint venture easily outmatched...
LeapFrog buys 15% of India’s Mahindra Insurance for $15m
LeapFrog Investments, a firm focusing on microinsurance for the world's poor, has bought a 15% stake in India’s Mahindra Insurance Brokers (MIBL), for INR804.1 million (nearly $15 million).
Indian regulator receives 20 applications for AIF approval
The Securities and Exchange Board of India (SEBI) has received 20 applications from fund managers for Alternative Investment Fund (AIF) status, the new regulatory classification designed to improve oversight of private equity, real estate and hedge fund...
Indiareit raises $46m for India redevelopment fund
Indiareit Fund Advisors, a real estate investor backed by Indian entrepreneur Ajay Piramal, has raised INR2.5 billion ($46 million) for a fund targeting redevelopment projects in Mumbai. The firm expects to reach a final close of up to INR5 billion in...
Indian Angel Network backs Mexican restaurant
Indian Angel Network (IAN), Asia’s largest business angel investor network, has invested in Poncho, a Mumbai-based Mexican quick service restaurant.
NVP injects another $5m in Appnomic Systems
Appnomic Systems, an Indian IT infrastructure management services company, has raised a $5 million Series C round from Norwest Venture Partners (NVP). The VC firm previously invested $4 million and $2.5 million in the company in 2009 and 2010, respectively.
IDFC PE invests $28.7m in Indian dairy firm
IDFC Private Equity has invested INR1.55 billion ($28.7 million) in Parag Milk Foods in what could be one of the largest PE transactions in the Indian dairy sector. The proceeds will facilitate a partial exit to Motilal Oswal Private Equity, which invested...
Warburg Pincus sells extra 4.2% of Moser Baer
Warburg Pincus has offloaded almost half of its remaining shares in listed optical media products maker Moser Baer India through open market transactions, reportedly at a substantial loss.
L Capital Asia in talks to back India’s Kingdom of Dreams – report
LVMH Group's private equity investment arm L Capital is reportedly investing around INR2 billion ($37 million) in The Great India Nautanki Company (GINC), which runs the Gurgaon-based Kingdom of Dreams, an entertainment destination designed to play host...
Motilal Oswal PE invests in Indian realty project
Motilal Oswal Private Equity Advisors has teamed up with two real estate firms - Supreme Universal and the Mirchandani Group – to invest INR600 million ($11 million) in an Indian realty project.