South Asia
PE to join in on $504m DLF land buyout
A private equity player is thought to have teamed up with Lodha Group to buy a 17.5-acre plot of land in India from DLF, the country's largest developer, for INR28 billion ($504 million).
Warburg’s Future Capital offer faces delays
Warburg Pincus’ offer to buy a 26% stake in India's Future Capital Holdings (FCH), the financial services unit of the Future Group, has been delayed despite reports that the $100-125 million deal was finalized last month.
SCPE backs Sri Lanka’s Abans with $40m - report
Standard Chartered Private Equity has reportedly invested $40 million in Sri Lankan family-owned business Abans.
Sequoia invests in India healthcare services start-up
Sequoia Capital India has invested INR250 million ($4.6 million) into Bangalore-based Practo Technologies, a cloud-based clinic management platform. The Series A round will support the company's global expansion plans.
VCs back Indian taxi firm BookMyCab
Mumbai Angels and YourNest Angel Fund, two Indian investment firms focused on early stage investments, have backed a Series A round for taxi start-up BookMyCab.
Baring PE India could raise $700m fourth fund – report
Baring Private Equity Partners India is reportedly considering the launch of a fourth fund by 2014 that would target $500-700 million. The vehicle’s main focus would be high-growth sectors.
The US invasion: Competition rises among Asia PE legal counsel
A host of US law firms are boosting their Asian operations with a view to offering private equity clients a full suite of services, from fund formation to capital markets. Is there enough business to go around?
India ATMs: Banking on convenience
Recognizing the need for more ATMs, a consortium of Indian banks has opened up the business to independent contractors. Numerous private equity-backed enterprises are waiting to swoop
Profile: Squadron Capital's Anand Prasanna
Anand Prasanna has gone from learning about business in the backwaters of southern India to working for Squadron Capital, one of Asia’s leading indigenous fund-of-funds. He also makes angel investments
WinIT Software to raise $5m from PE
WinIT Software, an Indian mobile developer, is planning to raise INR275 million ($5 million) from private equity investors to scale up its operation outside India. A deal is expected to happen in the next 4-5 months.
Red Fort to raise $500m for third fund - report
Red Fort Capital Advisors is reportedly planning to raise $500 million next year for its third Indian real estate fund.
Navis sells Nirula's to Indian trade buyer
Malaysia-based private equity firm Navis Capital Partners has sold its 100% stake in Indian restaurant chain Nirula's Corner House to hotel and real estate group A2Z Excursions.
Yinglan Tan joins Sequoia Capital India
Yinglan Tan, formerly head of projects at Singapore’s National Research Foundation, has joined Sequoia Capital India as a venture partner.
India’s Reliance Mediaworks to raise $110m from PE
Reliance Mediaworks (RMW), a Indian film and entertainment services company controlled by billionaire Anil Ambani, has raised INR6.05 billion ($109.7 million) from a foreign private equity fund. The capital will be used to cut debt and for business expansion.
PE-backed Manipal Global considers stake sale – report
Several PE firms and UK media conglomerate Pearson are reportedly considering a stake purchase in Manipal Global. The transaction would facilitate the exits of IDFC Private Equity and Capital International, which together hold more than 12% of the company.
Janalakshmi microfinance raises $26m from PE investors
Bangalore-based microfinance institution (MFI) Janalakshmi Financial Services has raised INR1.45 billion ($26.4 million) in a Series C round of funding from a group of investors.
Navis exits India call center business via trade sale
Navis Capital Partners has sold its majority stake in Andromeda Sales and Distribution, an Indian financial services distributor, to Casa Capital Management. It is the Malaysia-based private equity firm’s fourth exit in six months.
Bain, GIC in $2b joint bid for Genpact stake - report
Bain Capital has reportedly teamed up with the Government of Singapore Investment Corp. (GIC) to formulate a joint bid for a 41% stake in Indian business process outsourcing (BPO) company Genpact.
Ontario Teachers to up India exposure, back Kedaara Capital
Ontario Teachers’ Pension Plan (OTPP) plans to increase its allocations to India and Latin America in order to diversify its emerging markets exposure, which is currently more weighted towards China. The pension plan’s first India commitment was to...
India PE lawyer joins Dacheng Wong Alliance
India-qualified corporate lawyer Yang Yen Thaw has joined Dacheng Wong Alliance, the Singapore joint venture between China’s Dacheng and Singapore’s Wong Alliance.
Singapore's Jungle Ventures invests in Mobikon
Jungle Ventures has led a $ 1.7 million round of investment in Mobikon Asia, a Singapore-India start-up that provides an integrated digital marketing platform to help hospitality and retail clients connect with consumers.
Nirvana Venture backs Indian prepaid services provider
Mumbai-headquartered payments provider TranServ has raised an undisclosed amount from Nirvana Venture Advisors. The investment will allow TranServ to scale up operations and deliver its planned products.
Carlyle buys 10% stake in India's Infotech Enterprises
The Carlyle Group has bought a 9.96% stake in Infotech Enterprises, a publicly listed IT firm based in Hyderabad. The investment reportedly facilitates the exit of Kotak India Fund, American Funds Insurance and Small Cap World Funds.
Fidelity, Qualcomm lead Series C round for Bigshoebazaar
Fidelity Growth Partners and Qualcomm Ventures have led a Series C round of funding worth INR1 billion (US$18 million) for Indian online wholesaler Bigshoebazaar. Existing investors Nexus Venture Partners and Catamaran Ventures also participated.