South Asia
IDFC Project Equity to launch second infrastructure fund
IDFC Project Equity, a subsidiary of Infrastructure Development Finance Company (IDFC), will launch its second India infrastructure fund later this year.
ChrysCapital reinvests $57m in Intas Pharmaceutical
ChrysCapital Partners is investing a further INR3 billion ($57 million) in Indian drugmaker Intas Pharmaceuticals ahead of the company’s upcoming initial public offering.
Mitsui & Co. Global Investment establishes Indian arm
Mitsui & Co. Global Investment, the private equity arm of Japanese conglomerate Mitsui & Co., has established an India operation in Mumbai.
India's HomeShop18 targets $100m IPO in the US – report
HomeShop18, the online retail arm of Indian media group Network 18, is said to be readying a US IPO that could raise about $100 million. The company raised $26 million from SAIF Partners in two tranches between 2007 and 2008.
IVCA chief joins Avigo Capital - report
The president of the Indian Venture Capital Association (IVCA), Mahendra Swarup, has joined SME-focused mid-market firm Avigo Capital as a partner.
Sidbi raises $128m for India Opportunity Fund
Sidbi Venture Capital Fund is nearing the close of its India Opportunity Fund, having just received a commitment of INR6.7 billion ($128 million) from financial institutions.
UK's Inflexion sets up portfolio teams in China, India
Inflexion Private Equity and MBO Partenaires have become the latest European PE players to set up teams in China and India to support the expansion of their portfolio companies.
India's VRL Logistics gets $33m from New Silk Route
VRL Logistics, a Karnataka-based logistics and transport company, has received an INR1.75 billion ($33 million) capital injection from New Silk Route (NSR). The investment comprises INR1.25 billion in new equity and INR500 million for a stake held by...
KKR, Goldman back Indian logistics provider
Ford Motors sold nearly 100,000 cars in India last year and a further 22,000 units manufactured in the country were exported overseas. Every single component that went into each vehicle was handled by TVS Logistics.
Profile: Vickers Capital's Finian Tan
One of the men who bet on Baidu before anyone knew what it was, Vickers Capital founder Finian Tan worked as a counselor, university don, oil trader and politician before settling on venture capital
New Silk Route invests in Vasudev Adiga's Fast Food
New Silk Route (NSR) has made its second investment in India’s food and beverage sector, picking up a minority stake in Vasudev Adiga’s Fast Food, which runs a chain of south Indian restaurants. The capital comes from a $100 million allocation NSR has...
Global Environment Fund hires ex-IDFC PE chief Luis Miranda
Luis Miranda, founder of Infrastructure Development Finance Co’s (IDFC) private equity business, has joined Global Environment Fund (GEF) as a senior advisor. Based in Mumbai, Miranda will contribute to GEF’s private equity investments in India and South...
Edelweiss-backed CSB to float
Catholic Syrian Bank (CSB), the Indian institution backed by Edelweiss Capital, AIF Capital, Gartmore Private Equity and Siguler Guff, plans to launch an IPO by September.
India considers capital gains tax cut for PE investors – report
India’s Finance Ministry is reportedly considering a move to halve the long-term capital gains tax imposed on private equity investors to 10%. It is seen as an effort to shore up PE interest at a time when there is considerable uncertainty about the tax...
Citi hires Abraaj executive to steer Pakistan business
Abraaj Capital’s Nadeem Lodhi has been appointed as head of Citigroup’s operations in Pakistan. Lodhi was previously a principal at Dubai-based Abraaj, taking responsibility for the firm’s sub-Saharan Africa business.
SAIF, Accel invest $5m in PropTiger
Venture capital firms SAIF Partners and Accel Partners have invested INR250 million ($5 million) in PropTiger Realty, an Indian online property marketing firm.
KKR, Goldman invest $53m in India's TVS Logistics
KKR has agreed to invest $47 million in TVS Logistics, an Indian supply chain manager that services the auto, distribution, electronics and component manufacturing industries. As part of the transaction, existing investor Goldman Sachs will inject a further...
Bain, TPG ask for Lilliput audit report to be made public
Bain Capital and TPG Capital filed an application with Delhi High Court Thursday, requesting that an interim report by a court-appointed independent auditor on portfolio company Lilliput Kidswear be made public. The private equity firms have been in conflict...
Olympus Capital invests $38m in Karur Vysya
Olympus Capital Holdings Asia has bought a 4.8% stake in India’s Karur Vysya Bank for $38.34 million as part of a PIPE transaction. It comes one month after ChrysCapital invested $31 million in the bank.
Kedaara to hold $200m first close - report
Kedaara Capital, the private equity fund manager established last year by former Temasek India head Manish Kejriwal, is nearing a first close of its maiden fund on $200 million.
India's Future Supply Chain seeks PE funding
Indian logistics provider Future Supply Chains is seeking a second round of private equity funding in order to diversify its business into consumer-driven sectors.
Hinduja unveils $500m infra vehicle - report
The Hinduja Group, the diversified conglomerate founded in Mumbai by the Hinduja family, reportedly plans to establish a $500-million fund that will invest in Indian infrastructure projects.
TA continues India spree by backing BillDesk
TA Associates' decision to establish a permanent India presence appears to be paying off. The firm’s first investment in the country was completed in 2006 but four of its five deals have come since the Mumbai office opened in late 2009. BillDesk, an online...
First quarter analysis: Asia struggles to locate its exits groove
Little to cheer in the exit landscape; China growth deal pipeline continues to weaken; India telecom tower buyout not a sign of things to come