South Asia
IndoUS Venture Partners backs New York-based digital magazine store
IndoUS Venture Partners has invested in New York-based digital magazine store Magzter in a Series A funding round. The investment is estimated at $3-5 million.
LIC holds a first close of real estate fund at $47m
LIC Housing Finance, the mortgage unit of India's biggest insurer, has reached a first close of its maiden real estate private equity fund at INR2.5 billion ($46.5 million).
ASK Pravi Capital appoints operating adviser
India’s ASK Pravi Capital Advisors has hired Naveen Kshatriya as an operating advisor to its private equity fund.
ChrysCapital closes sixth fund at $510m
ChrysCapital has announced a final close of its sixth fund at the hard cap of $510 million.
ChrysCapital closes fund VI at $510m
In keeping with its conservative approach, ChrysCapital opts for a smaller fund than the last cycle and plans to outsmart the competition by targeting smaller deals
India postpones anti-avoidance rules, cuts capital gains tax for PE
India has postponed the implementation of anti-avoidance legislation, which impacts the tax treatment of offshore structures used to channel capital into the country, and reduced the tax rate on capital gains arising from private equity transactions....
IFC to boost Equitas, Ujjivan MFIs with $28m
International Finance Corp (IFC) is planning to inject INR1.5 billion ($28 million) into two Indian microfinance institutions: Equitas Microfinance and Ujjivan Financial Services.
PE-backed Ratnakar Bank targets IPO in 2014
Ratnakar Bank, a Kolhapur-based lender that received $157 million in private equity funding last year, plans to launch an IPO within two years. It is part of a wider transformation of Ratnakar into a nationwide operator providing end-to-end services....
RVCF invests $2.8m in Frontier Lifeline
Rajasthan Venture Capital Fund (RVCF) has invested INR150 million ($2.8 million) for an 11% stake in Indian hospital Frontier Lifeline via a capital increase.
Intel Capital's Kuppam adds Taiwan, Korea to his Asia portfolio
Intel Capital’s Asia Pacific Managing Director Sudheer Kuppam will assume responsibility for investment activity in Taiwan and Korea, adding to his existing coverage of India, Japan and Southeast Asia. Based in India, he will oversee a team of investment...
Jacob Ballas injects $38m in Marg Karaikal Port
Private equity firm Jacob Ballas Capital has provided Marg Karaikal Port, a unit of infrastructure and real estate company MARG, with a $38 million cash boost.
Dutch pension funds invest $122m in Lemon Tree Hotels
Dutch pension fund manager APG has invested INR6.5 billion ($122 million) in Lemon Tree Hotels, India's largest chain of upscale hotels and resorts.
Leopard Capital to raise frontier markets PIPE fund
Leopard Capital Management is launching a long-only fund that will target PIPE deals in up to 12 frontier markets in Asia. It will invest in sectors perceived to drive frontier economies, including consumer products, financial services, infrastructure...
Franklin names Robinson-Kok as Asia alternatives head
Franklin Templeton Investments has appointed Gregory Robinson-Kok as head of its alternative investments business in Asia. He is based in Singapore and reports to Kent Strazza, managing director of the alternative strategies group.
Partners Group adds to India direct investment capabilities
Partners Group has appointed Cyrus Driver as a managing director with the brief to strengthen the company’s direct investment activities in India. The move comes as Partners Group seeks to ramp up its direct investment capabilities across the region....
Actis completes full management buyout with $100m deal
The UK government is on course to recoup more than $100 million by exiting its stake in Actis. The private equity firm’s management will buy the government’s 40% holding for GBP8 million ($13 million) in cash and also hand over a portion of the carried...
ChrysCapital no fair-weather friend to Intas
Back in 2005, the principal concern for much of India’s rural population was where their next meal was going to come from. Over the past seven years, however, the spoils of rapid economic growth have trickled down through the social strata. Rural residents...
NSR to take local food national
South Indian cuisine specialist Vasudev Adiga’s is the first part of New Silk Route’s plan to take on the multinationals by creating a domestic casual dining conglomerate in India
India hospitals: Capital cure
Badly in need of consolidation and infrastructure investment, India’s hospital chains are an attractive target for private equity. But identifying suitable targets and getting them to scale up remains a challenge
Accel, IDG back Forus Health with $5m
Venture capital firms Accel Partners and IDG Ventures India have led a $5 million Series A round of funding for Indian medical technology company Forus Health.
Xander completes $40m buyout of Indian office site
Xander Real Estate Partners, the property-focused PE arm of global investment firm The Xander Group, has acquired a Grade A office park in Chennai for $40 million from Appaswamy Real Estates.
Navis mulls buying Twilight Litaka stake
Malaysia-based Navis Capital Partners is in negotiations with Indian pharmaceutical company Twilight Litaka Pharma about a potential cash injection of $1.5 billion ($29 million) in the firm.
Jones Lang LaSalle chief launches India real estate fund
Jones Lang LaSalle's (JLL) India CEO has reportedly left his role at the global property consultancy to launch a real estate fund with a former Merrill Lynch executive.
Nexus leads $26m Series A round for TalentSprint
Nexus Venture Partners has invested $26 million as part of a Series A round for TalentSprint, an Indian company that helps graduates and young professionals find jobs.