South Asia
The crystal ball: Predictions for 2021
Industry professionals process the upheavals of 2020 to inform outlooks for a range of markets and investment themes. Realist bullishness abounds
Partners Group invests $250m in India's Ecom Express
Partners Group has committed at least $250 million to Indian door-to-door delivery specialist Ecom Express, facilitating a partial exit for controlling shareholder Warburg Pincus.
Gaja leads $32m Series B for India SaaS start-up
Gaja Capital has led a $32 million Series B round for India-based software-as-a-service (SaaS) provider LeadSquared.
2020 in review: Surprise guest
The coronavirus pandemic has played havoc with Asian private equity, contributing to a resurgence in IPOs, increased bifurcation in fundraising, a rush for healthcare, and a generally staggered revival
Deal focus: Everstone secures 3x return on outsourcing play
Everstone Group helps outsourcing specialist Everise adapt to the work-at-home realities of the day before exiting the business to Brookfield Asset Management
Blackstone agrees $1b acquisition of India's Piramal Glass
The Blackstone Group has agreed to buy Piramal Glass, a glass packaging business owned by Indian conglomerate Piramal Group, for an enterprise valuation of INR75 billion ($1 billion).
Temasek to anchor Info Edge's debut India VC fund
Info Edge India, a holding company for Indian jobs portal Naukri, has secured an anchor LP commitment of INR3.7 billion ($51 million) from Temasek Holdings for its debut VC fund.
Everstone exits Singapore BPO business to Brookfield
Everstone Group has agreed to sell Everise, a business process outsourcing (BPO) company it formed through the amalgamation of several existing assets, to Brookfield Asset Management.
Everstone buys Indian pharma ingredients player
Everstone Group has acquired a controlling stake in Calibre, an Indian ingredients supplier for the pharmaceutical and nutrition industries, for an undisclosed sum.
India antitrust regulator to probe private equity
India’s competition regulator will conduct a study on the role of private equity in India – identifying any potential antitrust issues – in response to the asset class’ rising prominence.
India's PhonePe spins out from Flipkart, raises $700m
PhonePe, the digital payments platform of Indian e-commerce marketplace Flipkart, has been spun out as a stand-alone entity and raised $700 million in funding at a post-money valuation of $5.5 billion.
Deal focus: Cashfree targets merchants in India’s payments boom
Apis Partners' support of India-based Cashfree is driven by a recognition that the democratization of digital payments is as much about empowering traditional merchants as unbanked consumers
PE-owned Burger King India pursues $110m IPO
The Indian franchise of US fast food giant Burger King will launch its IPO this week seeking to raise up to INR8.1 billion ($109.5 million), facilitating a partial exit for majority shareholder Everstone Group.
Faering backs India skincare start-up Pureplay
Faering Capital has led a INR1.1 billion ($14.9 million) Series B round for Pureplay Skin Sciences, an Indian direct-to-consumer beauty and hair care brand.
Profile: Aavishkaar's Vineet Rai
Vineet Rai’s career in impact investing started before the concept really existed. Spurred – but also slightly troubled – by mainstream awareness, he has big plans for India-based Aavishkaar Group
Tiger, Dragoneer back India's Unacademy at $2b valuation
Indian online education business Unacademy has received funding from Tiger Global Management and Dragoneer Investment Group at a valuation of $2 billion, up from $1.4 billion in its previous round just two months ago.
Apis invests $35m in India's Cashfree
Apis Partners has invested $35 million in Indian digital payments services provider Cashfree as part of a Series B round also featuring Smilegate Investment and Y Combinator.
DST leads $200m Series E for India's Cars24
Russia’s DST Global has led a $200 million Series E round for Indian used car platform operator Cars24 at a valuation of more than $1 billion.
India's Reliance Retail marks close of $6.4b fundraise
Indian conglomerate Reliance Industries has announced the completion of a funding round for its retail unit with INR472.7 billion ($6.4 billion) in commitments from eight investors.
India's True Balance gets $28m Series D
Indian financial technology provider True Balance has raised a $28 million Series D round from a group including SoftBank Ventures Asia.
Aggression pays off in times of crisis - AVCJ Forum
Going on the offensive is the best response to COVID-19 - taking advantage of market uncertainty to make new investments and help portfolio companies complete bolt-on acquisitions - the AVCJ Forum heard.
Warburg Pincus, Advantage honored at AVCJ Awards
Warburg Pincus and Advantage Partners triumphed in the firm of the year categories at the 2020 AVCJ Private Equity & Venture Capital Awards, with The Carlyle Group and Affinity Equity Partners also among the winners with two trophies apiece.
Aavishkaar, Circulate invest $18m in Indian recycling company
Aavishkaar Capital and Circulate Capital have invested a combined $18 million in Indian waste recovery and recycling business Nepra.
India food delivery player Zomato raises $195m
India-based food delivery business Zomato has raised $195 million from a group of investors including US-based Kora Management and Luxor Capital, and Korea’s Mirae Asset Capital.
