South Asia
Blume Ventures invests in four Indian startups
Indian angel and seed fund Blume Ventures has invested in four startups. The transactions were completed during the first half of the year, according to the company’s quarterly report.
India’s Kalyani Group to sell wind energy stake to PE – report
The Kalyani Group, the Indian industrial conglomerate, is reportedly in talks with private equity firms to sell a stake in its wind energy business, Kenersys. In addition to diluting Kalyani’s controlling interest, the deal would allow the partial exit...
India regulator pulls plug on ACA PE’s Repco Home deal
The Securities and Exchange Board of India (SEBI) has vetoed ACA Private Equity Trust’s proposed investment into Repco Home Finance because it contravenes the country’s venture capital regulations.
Bain, KKR target 30% stake in Lanco power business - report
Bain Capital and KKR are reportedly in discussions with Lanco Infratech to buy a 30% stake in its power projects. Lanco has been trying to raise around $750 million in equity since the start of the year.
India Value Advisors to invest $179m in Manipal Hospitals
India Value Advisors (IVFA) will commit about INR10 billion ($179 million) to Manipal Hospitals over a three-year period, enabling the healthcare provider to more than double its hospital bed capacity. Part of this increase will come through acquisitions.
SCPE scores proprietary cryogenic storage deal
A captive private equity firm has a number of advantages. Fundraising is never an issue, there is an abundance of manpower and the parent’s contacts can be leveraged for deal origination purposes.
VC-backed Flipkart raises Series D round of funding
Indian online retailer Flipkart has completed a Series D round of funding from new investors MIH, part of the South Africa-based media platform Naspers, and San Francisco-based ICONIQ Capital. Existing backers Tiger Global and Accel Partners also participated.
Sequoia exits Cafe Coffee Day stake in founder buy-back
Sequoia Capital India has sold its stake in Amalgamated Bean Coffee Trading, the unit of India’s Coffee Day Group that runs the flagship retail chain, Café Coffee Day.
Anubha Shrivastava leaves CDC
Anubha Shrivastava has left CDC, the UK government's development finance arm, where she served as managing director with responsibility for Asia investments.
Just Dial re-files for IPO, VCs plan partial exit
Just Dial, the Indian online listings provider, has filed for a domestic IPO that will see its venture capital investors exit a portion of their holdings. After an earlier attempt to list was shelved due to market uncertainty, the company completed a...
JAFCO invests $5m into VC-backed Bubble Motion
JAFCO Asia has invested $5 million in Bubble Motion, a voice blogger service provider backed by venture capital players including Sequoia Capital.
Fidelity Growth invests $20m in US-based AbsolutData
Fidelity Growth Partners India has committed $20 million to AbsolutData, a San Francisco-based data analytics services provider. The investment will be used to scale up its global delivery footprint.
CVCI backs Cox & Kings unit with $137m
Citigroup Venture Capital International (CVCI), the private equity arm of Citigroup, has channeled $137.75 million into the UK subsidiary of Indian travel operator Cox & Kings.
KKR says it has no plans for India credit fund
KKR has talked down reports that it is preparing to raise an India-focused debt fund. While interested in pursuing India credit opportunities, the private equity firm currently has no plans to launch a specific vehicle in this space.
India eases rules on entrepreneurs’ post-IPO lock-up
India has altered rules concerning the lock-up on entrepreneurs’ shares post-IPO in order to make it easier for companies to list. This is expected to support companies that go through several stages of private equity funding.
SCPE pumps $45m into Indian cryogenics firm
Standard Chartered Private Equity (SCPE) has paid INR2.5 billion ($45 million) for a minority stake in Inox India, a major global manufacturer of cryogenic storage and transportation equipment.
Actis invests $40m in AGS Transact Technologies
Actis has invested $40 million in TPG-backed AGS Transact Technologies (AGS), one of the leading automatic teller machine (ATM) outsourcing and payments company in India.
Freemont backs Indian eco-products start-up
Freemont Partners has invested in Natural Mantra, an Indian online start-up that sells eco-conscious products. The size of the transaction was not disclosed.
PE firms hedge their bets
Numerous private equity and hedge funds are pursuing alliances with one another in Asia. Could a multi-strategy approach be the golden strategy for the region’s investment environment?
Actis invests in Sri Lanka’s Asiri Central Hospitals
Actis has purchased a 10.8% stake in Sri Lanka’s Asiri Central Hospitals for LKR604 million ($4.5 million). The emerging markets-focused private equity firm acquired 2.4 million shares in the Colombo-listed company from Softlogic Holdings, Commercial...
Actis exits Dalmia Bharat Sugar & Industries - report
Actis is said to have exited its 5.5% stake in Dalmia Bharat Sugar & Industries - formerly Dalmia Cement Bharat - for INR82.7 million ($1.5 million).
PE exits in India down by 90% in second quarter - PwC
India private equity exits fell 89% year-on-year to just $108 million in the second quarter. This came from 12 transactions, down 33%, according to a report published by PricewaterhouseCoopers (PwC).
KKR fund among AIFs to operate in India under new route
KKR’s India Alternate Credit Opportunities Fund is among seven alternative investment funds (AIFs) that have been approved by the Securities and Exchange Board of India (SEBI).
Peepul Capital makes two investments in Chennai
Peepul Capital, an India-focused private equity firm, has invested $15-25 million each in two Chennai-based companies - Consul Consolidated, a power solution company, and Cura Healthcare, a radiology equipment maker. Both investments were channeled from...