South Asia
Sequoia invests $3.9m in Indian recharge portal
Indian E-commerce portal Freecharge.in has raised INR200million ($3.9million) in its series A round of funding from venture capital firm Sequoia Capital.
Lok Capital’s second fund closes at $65m
Mumbai-based venture capital Lok Capital has closed its second fund at $65 million, a social venture capital vehicle targeting microfinance providers directly as well as companies that support the microfinance ecosystem.
GMR Infrastructure nears PE investment in roads business
GMR Infrastructure is close to sealing a INR6 billion ($120 million) private equity investment in its highways business, which will enable the company to finance a INR75 billion project it won last year to build a road between Ahmedabad and Kishangarh...
India Infoline raises a $100m real estate fund
India Infoline Venture Capital Fund, the venture capital arm of the India Infoline group(IIFL), has raised a INR5 billion ($100 million) real estate fund. It is the brokerage's first foray into the private equity business.
Tano’s second India fund reaches final close at $111m
Tano Capital, an Asia focused alternative asset management firm, has reached a final close of $111.3 million for its second India private equity fund, having originally targeted $150 million.
Carlyle promotes three Asia professionals to MD level
The Carlyle Group has named 13 new managing directors, including Hiroyuki Otsuka in Tokyo, Matthew Hunter in Sydney and Wayne Bannon in Hong Kong, as part of a raft of promotions that saw 41 professionals elevated to senior positions.
IFC considers investment in Indian SME-focused fund
International Finance Corp. (IFC), the World Bank’s investment arm, may invest up to $20 million in Pragati India Fund, a vehicle targeting small- and medium-sized enterprises (SMEs) in India’s low income states. The fund is aiming to raise $75-100...
SC Lowy in talks for $125m Kingfisher deal - report
Distressed debt specialist SC Lowy is said to be in talks with India’s second-largest airline, Kingfisher, about a possible $125 million investment.
Red Fort closes second real estate fund at $500m target
Red Fort Capital has completed a final close of its second real estate fund at $500 million, coming mere weeks after the firm said it was targeting this amount from investors.
Olympus invests $100m in DM Healthcare, India Value Fund exits
Olympus Capital Asia Investments has invested more than INR5 billion ($100 million) for a minority stake in DM Healthcare, in a deal which enabled existing investor India Value Fund to exit the company.
Nalanda Capital boosts stake in Indian pipe manufacturer
Nalanda Capital, the Singapore-based private equity firm set up by Pulak Prasad, former managing director at Warburg Pincus India, has increased its holding in Ratnamani Metals & Tubes. The company manufactures piping for use in a wide range of industries.
L Capital in talks with Indian ethnic wear chain
L Capital Asia, the private equity arm of luxury goods giant LVMH group, is in talks to acquire a minority stake in Fabindia, an Indian ethnic fashion retailer.
Mandala Capital in JV with Australia’s Water Resources Group
Mandala Capital, a South Asia private equity firm that invests in the agricultural sector, has entered into a joint venture with Australia’s Water Resources Group that will target the desalination opportunities in India, Pakistan, Sri Lanka and Bangladesh.
Indian commodity exchange in talks with PE firms
India’s fourth largest exchange, the National Multi-Commodity Exchange of India (NMCE), is in talks with five private equity firms and banks to raise INR300-350 million ($5.9-6.9 million) to comply with minimum capital rules.
NSR backs Indian educational support services provider
New Silk Route (NSR) Partners has acquired a significant minority stake in Varsity Education Management, an Indian educational support services provider. It is thought that the investment is in the $40-50 million range.
India to launch state-backed $1b innovation fund
India plans to roll out a $1 billion government-backed venture fund to support innovative companies that promise a better future to the poor.
KKR, Temasek circle India’s TVS Logistics – sources
Private equity giant KKR and Singaporean sovereign wealth fund are among four PE investors said to be in talks to invest around $50 million in Indian logistics company TVS.
Actis moves closer to full management buyout
The UK government is moving closer to the sale of its remaining stake Actis, with the private equity firm’s management team the most likely buyers after a 12-month search failed to deliver any rival bidders. However, deep divisions remain over the price...
Kedaara to pursue carve-outs from Indian conglomerates
Kedaara Capital, the private equity firm created by Manish Kejriwal and Sunish Sharma, formerly of Temasek India and General Atlantic India, respectively, will focus on investments in carve-outs and spin-offs of non-core assets from large corporations.
Singapore property funds look to invest $100m in Indian SEZ
Singapore property funds Ascendas and Mapletree Investments are in talks to commit $100million to a special economic zone (SEZ) near the Indian city of Pune.
IL&FS invests $39m in Indian real estate project
IL&FS Investment Managers (IIML) has invested INR2 billion ($38.8 million) for a 9.4% stake in a firm that is developing the Bharat Mills real estate project.
Lightspeed targets $675m for ninth fund
Lightspeed Venture Partners is seeking $675million for its new global fund, according to a regulatory filing. The firm principally targets investments in China and India, as well the US and Israel.
Reliance seeks loan from CDB
India’s second-largest mobile operator Reliance Communication, which has been struggling to sell its telecom tower arm, is in talks with China Development Bank (CDB) for a loan to restructure its debt.
Former head of SBI Macquarie seeks $500m for India fund
Violet Arch Capital Advisors, a startup run by Varun Bajpai, former head of SBI Macquarie Infrastructure Fund, is looking to raise $500 million for its debut fund. The vehicle will be sector agnostic, targeting opportunities that are driven by India’s...