South Asia
India's Ofbusiness secures $200m round for lending unit
OfBusiness, an India-based B2B platform focused on industrial supply chain and procurement services, has raised USD 200m in Series A funding for its lending unit.
India's EverSource acquires local EV fleet operator
India’s EverSource Capital has acquired a majority stake in Lithium Urban Technologies, a local electric vehicle (EV) fleet and charging infrastructure operator, for an undisclosed sum.
India's Reliance buys VC-backed Clovia
Clovia, an India-based lingerie and sleepwear retailer backed by several VC investors, has been acquired by Reliance Retail Ventures (RRVL) at an approximate valuation of USD 140m.
Deal focus: Bazaar, Zayn encapsulate Pakistan’s breakout moment
Bazaar, a B2B logistics and financial services start-up, is putting Pakistan on the map for brand-name global VC investors for the first time. One of its key local backers, Zayn Capital, is doing the same
India media tech supplier Amagi secures $95m
Amagi, an India-based broadcasting industry technology provider that claims an audience of more than 2bn people, has raised a USD 95m round led by Accel Partners at a valuation of at least USD 1bn.
India gaming, e-sports player Loco raises $43m
Indian game streaming and e-sports start-up Loco has raised INR 3.3bn (USD 43.3m) in Series A funding led by Korean blockchain specialist Hashed Ventures.
India’s Licious raises $150m at $1.6bn valuation
India’s Licious, a direct-to-consumer fresh meat and seafood delivery company, has raised a USD 150m round led by Amansa Capital at a valuation of USD 1.6bn.
Pakistan's Bazaar gets $70m Series B
Pakistani B2B e-commerce and financial technology platform Bazaar has raised a USD 70m Series B round led by Dragoneer Investment Group and Tiger Global Management.
Flexibility first: Investing in the future of work
Investment in work-tech has soared as start-ups devise solutions for workforces that are increasingly distributed in terms of location, structure, and practice. Data, and knowing what to do with it, is key
India's Byju's raises $800m at $22b valuation
Indian education platform Byju’s has raised USD 800m at an estimated valuation of USD 22bn, with the company’s founder Byju Raveendran providing USD 400m.
BPEA generates $333m through Coforge partial exit
Baring Private Equity Asia (BPEA) has made another partial exit from Indian IT solutions business Coforge, generating INR 25.6bn (USD 333.5m) in proceeds and reducing its position in the company below 50%.
India fintech player Money View gets $75m Series D
Money View, an India-based financial technology start-up involved in lending, card issuance, and buy now, pay later products (BNPL), has raised US 75m in Series D funding at a valuation of USD 625m.
Nepal's Dolma hits second close on Fund II
Nepal’s Dolma Fund Management has reached a second close of USD 50m on its second impact fund with the addition of the US International Development Finance Corporation (DFC) as an LP.
Warburg Pincus buys majority stake in India's Imperial Auto
Warburg Pincus has acquired Imperial Auto Industries, one of India’s oldest automotive parts manufacturers, for an undisclosed sum.
India's CredAvenue sees 3x valuation jump in six months
Indian small business credit platform CredAvenue has raised a USD 137m round featuring B Capital Group at a valuation of USD 1.3b, up 3x in the past six months.
Accel raises $650m for seventh India fund
Accel Partners has raised USD 650m for its seventh India VC fund, which will also make early-stage investments in Southeast Asia. The firm’s total assets under management in the region now top USD 2bn.
India edtech player Filo gets $23m Series A
Filos, an India-based instant live-tutoring platform, has raised USD 23m in Series A funding led by US investor Anthos Capital. It is said to be the largest-ever Series A in India’s education technology space.
AVCJ Awards 2021: Exit of the Year – IPO: Zomato
Zomato’s milestone offering last year saw a pandemic-ready business model awaken the local market to internet-based risk profiles as global investors shifted interest from China to India
Baring Asia completes $386m recap of CitiusTech
Baring Private Equity Asia (BPEA) has completed a USD 385.9m dividend recap and refinancing of loans tied to its 2019 acquisition of India-based healthcare IT services business CitiusTech.
Pakistan fintech player NayaPay gets $13m seed round
NayaPay, a Pakistan-based financial technology start-up has secured USD 13m in what is claimed to be one of the country’s largest-ever seed rounds.
India banking start-up Niyo raises $100m Series C
Accel Partners and Lightrock India have led a USD 100m Series C round for India’s Niyo, which offers digital savings accounts and other banking services in partnership with traditional banks.
Investcorp seeks $400m for India private equity fund
Investcorp is targeting USD 400m for its third India private equity fund as part of efforts to quadruple its assets under management (AUM) in the country to USD 2bn within six years.
A91, Z3Partners lead Series B for India's Shipsy
A91 Partners and Z3 Partners have led a USD 25m Series B round for India-based Shipsy, an artificial intelligence (AI) platform that helps companies automate logistics.
India's IvyCap secures foreign LP backing for Fund III first close
India’s IvyCap Ventures is progressing on efforts to diversify its LP base, with 15% of the first close commitments in Fund III coming from international investors, while many of its domestic institutional backers re-upped.