South Asia
IFC plans socially-focused India deals
The International Finance Corporation (IFC), the private sector arm of the World Bank, is working on two Indian socially-focused deals: a $25 million commitment to hospital chain Max Healthcare Institute, and participation in a $2.6 million fundraising...
Navis backs new Nirula's expansion
Navis Capital is to invest more into Indian restaurant chain Nirula's to help fund a new expansion into seven to ten additional cities across the Subcontinent, according to Indian press reports.
Edelweiss, Elephant join Axis Private Equity bidding
Two more bidders for Axis Private Equity, the private equity arm of Axis Bank, have been identified as Mumbai financial services group and special situations investor Edelweiss Capital and AIM-listed private equity firm Elephant Capital.
IL&FS plans $300-350 million growth fund
Leading Indian private equity investor IL&FS Investment Managers Ltd. is targeting $300-350 million for a new growth equity fund, to commence raising at end 2010.
CX closes on $515 million
CX Partners, the Indian private equity firm headed by former CVC International India head Ajay Relan, has closed its debut fund at $515 million.
IFC backs India contract manufacture with Craftsman
The International Finance Corporation (IFC), the private sector arm of the World Bank, will make a substantial equity investment in OEM manufacturing company Craftsman Automation Pvt Ltd in June, according to Indian reports.
IL&FS, Darby, others bid for Axis Private Equity
Six bidders, including veteran Indian private equity firm IL&FS Investment Managers and Darby Private Equity, as well as Aditya Birla Private Equity and Shapoorji Pallonji Group, are apparently bidding for Axis Private Equity, following parent Axis Bank's...
Infrastructure Q&A: Luis Miranda
Luis Miranda, President and CEO of IDFC Private Equity, talks about the Indian infrastructure opportunity, and international interest.
IDFC Project Equity appoints Aggarwal MD Investments
Leading Indian infrastructure investor IDFC Project Equity has announced the internal promotion of a senior member of its energy team, Aditya Aggarwal, to the post of managing director in charge of investments.
Mayfield exits Servomax to founders
Mayfield is planning to sell its stake in power equipment company Servomax India Ltd., bought for $3.75 million in 2008, back to the founders.
Two for Foundation in India education with Tree House, Aspire deals
US early stage fund Foundation Capital has led two new Series B investment rounds in India: an $8.8 million commitment to education company Tree House Education and Accessories, with Matrix Partners India, and a $4.5 million round for education and HR...
ICICI Venture launches two funds in infrastructure and property
ICICI Venture, the Mumbai-based private equity arm of ICICI Bank, will launch its maiden infrastructure fund over the next few weeks.
Summit Partners to open India office in 2011
Boston-based Summit Partners has just announced that it will open an office in the country in 2011.
Norway's NMI supports Chennai microfinance
Norway's NMI Frontier Fund has joined existing investors International Finance Corporation (IFC), Swedfund (the Swedish Development Finance Institution), and Aavishkaar Goodwell, committing $900,000 into Belstar Investment and Finance, a Chennai microfinance...
Movement in Pakistan with Shell LPG bids
Private equity in Pakistan has shown unprecedented activity with a competitive auction developing for Shell Petroleum's stake in Shell Gas Pakistan between JS Private Equity and local strategic Jamshoro Joint Venture Ltd, as well as a possible third bidder.
Fidelity India invests Punj Lloyd arm
Fidelity Growth Partners India has invested an undisclosed sum for a minority stake in energy and infrastructure engineering services company PL Engineering, a division of leading conglomerate Punj Lloyd.
Clearwater ups Sayaji Hotels stake
Clearwater Capital Partners has raised its stake in Indian hotel chain Sayaji Hotels from just under 8.5% to 32.87% through convertible bonds, and is due to launch an open offer for a further 20%.
Carlyle, ChrysCapital, SCPEL suitors for Godrej Consumer
The Carlyle Group, ChrysCapital Management, and Standard Chartered Private Equity Ltd. (SCPEL) are among the private equity firms bidding for a $130-140 million investment opportunity into India's Godrej Consumer Products, according to Indian reports.
Sequoia invests Axtria
Sequoia Capital India has led a $2.5 million Series A funding round into Axtria Inc., a business analytics provider founded by serial entrepreneurs Jaswinder S Chadha and Navdeep S Chadha.
KKR solidifies India cement with Dalmia
Kohlberg Kravis Roberts & Co. has agreed an investment of around INR750 crore ($164 million) into Dalmia Cement (Bharat), for a c.20% stake in unlisted subsidiary Avnija, which will house the group's cement manufacturing capacity to create India's largest...
Rai may leave GA in Mumbai for own firm
General Atlantic's Mumbai-based Managing Director Raul R. Rai may be on the point of leaving the VC major to found his own private equity firm.
JPMorgan moves Chatterji to India
JPMorgan has transferred Rohit Chatterji, hitherto head of Asia debt capital markets, to India, where he will be Vice Chairman and Head of Investment Banking for the Subcontinent.
General Atlantic may see Patni founders exit to NTT
General Atlantic may see the founding entrepreneurs in Indian investee Patni Computer Systems sell their combined 46.5% stake to Japan's NTT Data Corp., for up to $936 million.
ICICI Venture sees fresh senior exits
ICICI Venture is seeing more departures by key senior personnel, with reports that Jayanta Banerjee, a president in its private equity practice, resigned earlier this week together with directors Anand Vyas and Sunay Mathure, to start their own private...