South Asia
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...
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...
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...
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...
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
Bamboo Finance backs Greenlight Planet in $4m round
Bamboo Finance has invested in Greenlight Planet, a manufacturer of solar-powered lanterns, in a $4 million funding round alongside existing investor P.K. Sinha, co-founder of ZS Associates.
India’s NSE considers stock exchange listing
General Atlantic-backed National Stock Exchange of India (NSE) is considering a listing on the public markets, but first need to consider the impact of upcoming rules.
Baring PE India promotes two to partner level
Baring Private Equity Partners India has promoted Amit Chander and Keshav Misra to partner level.
PE-backed Coffee Day plans $78m India expansion
Coffee Day Group, a diversified Indian business backed by Standard Chartered Private Equity (SCPE), KKR and New Silk Route, plans to spend INR4 billion ($77.9 million) on expanding its operations this year. The firm has indicated it might then look at...
Unitus Seed Fund backs Indian rural distribution start-up
Unitus Seed Fund, a US-based VC firm that targets social start-ups, has invested in Chennai-based Villgro Innovation Marketing (VIM) in a seed series of funding alongside a group of angel investors.
Mount Kellett raises $4b for second special situations fund
Mount Kellett Capital Management, the private equity firm started by former Goldman Sachs executive Mark McGoldrick, has closed its second fund at $4 billion. The vehicle, which targets special situation and opportunistic investments, is $1 billion larger...