South Asia
India fashion supply chain player Fashinza raises $30m
Indian fashion industry supply chain platform Fashinza has raised USD 30m from Liquidity Group, an Israel and US-based financial technology company and debt investor.
Fund finance: Filling Asia's SVB void
Silicon Valley Bank’s collapse has prompted Asia-based GPs to review their relationships with lenders, for fund finance and general banking. Smaller managers may find the process challenging
TPG completes exit from India's Campus Activewear
TPG Capital – acting through its growth equity strategy – has completed its exit from Campus Activewear, an Indian athleisure footwear brand it took public last April.
TII, Premji to acquire India medical devices player
Tube Investments of India (TII) and Premji Invest have agreed to acquire medical instruments maker Lotus Surgicals for up to INR 3.5bn (USD 42.3m), providing an exit for Samara Capital.
Accenture buys India's VC-backed Flutura
Flutura, an India-headquartered provider of artificial intelligence-enabled (AI) analytics services to industrial customers, has been acquired by Accenture. The deal facilitates an exit for several VC investors, including Vertex Ventures.
Deal focus: WorldLink reaches into Nepal's hinterlands
British International Investment and Dolma Fund Management are supporting WorldLink’s rollout of internet services in Nepal, having been impressed how the company handled COVID-19
Deal focus: India's IIFL plans hospital expansion
India’s IIFL Asset Management is taking its private equity business deeper into healthcare with Kauvery Hospitals. The plan is to double patient capacity and IPO within three years
Lighthouse hits $200m first close on fourth India fund
Lighthouse Funds has reached a first close of approximately USD 200m on its fourth India mid-market fund – four months after returning nearly the entire Fund III corpus through an exit from beauty e-commerce platform Nykaa.
ADIA invests $500m in India's Lenskart
Abu Dhabi Investment Authority (ADIA) has agreed to invest USD 500m in Indian eyewear retailer Lenskart. It would bring pre-IPO funding in the past 12 months to around USD 750m.
India's HealthPlix raises $22m Series C
India’s HealthPlix, a medical records platform for doctors that aims to democratize access to digital healthcare in remote areas, has raised a USD 22m Series C round led by Avataar Venture Partners.
India's Rockstud targets $37m for sophomore angel fund
India’s Rockstud Capital, an early-stage VC investor backed by high net worth individuals, has launched its second angel fund with a target of INR 3bn (USD 37m).
Deal focus: Glimmer in a dormant Pakistani ecosystem
Pakistan’s Trukkr quietly spent a hardscrabble pre-seed period building infrastructure while competitors leveraged a short-lived VC boom to grow quickly. The patience appears set to pay off
Kedaara buys majority stake in India dermatology player
Kedaara Capital has acquired a majority stake in medico-aesthetic dermatology services Oliva Skin & Hair Clinic, facilitating an exit for healthcare specialist InvAscent Capital.
Blackstone completes exit from India's Sona Comstar
The Blackstone Group has completed a staged exit from India-listed automotive industry supplier Sona Comstar, selling its remaining 20.5% via bulk open market deals worth about USD 600m.
India's IIFL invests $70m in Kauvery hospital chain
India’s IIFL Asset Management (IIFL AM) has invested USD 70m in local hospital chain Kauvery Hospitals via its private equity unit, acquiring a minority stake.
AI-dedicated GP targets South, Southeast Asia
A group of artificial intelligence (AI) investors in Africa have launched a new Singapore-based private equity firm, AI Capital, that will invest across South and Southeast Asia, as well as Africa.
Premji Invest leads $110m round for India's Mintifi
Premji Invest has led a USD 110m Series D round for Indian financial services platform Mintifi with support from Norwest Venture Partners, Elevation Capital and the International Finance Corporation (IFC).
US, UK VCs invest Pakistan logistics start-up Trukkr
US-based Accion Venture Lab and Sturgeon Capital of the UK have led a USD 6.4m seed round for Pakistan’s Trukkr, a financial technology provider for the trucking industry.
Premji Invest leads $26m round for India's SpotDraft
India’s Premji Invest has led a USD 26m Series A round for local contract lifecycle management and legal work automation supplier SpotDraft.
Multiples leads $146m for Indian EV maker
India’s Multiples Alternate Asset Management has led a INR 12bn (USD 145.7m) investment in TI Clean Mobility, an electric vehicle (EV) subsidiary of engineering conglomerate Murugappa Group.
India's Nexus Venture closes Fund VII on $700m
Nexus Venture Partners has reached a final close on its seventh India venture capital fund with USD 700m in commitments, taking the firm’s total assets under management past the USD 2bn mark.
Deal focus: Going regional to fill the coding gap
NxtWave is helping India’s massive engineering community get up to snuff in much-needed software-related skillsets. This is most difficult and most rewarding in lower-tier cities
Asia co-investment: Gun-shy LPs?
Overallocation, risk aversion, and troubleshooting existing deals have prompted some LPs to pull back from co-investment in Asia. Others are willing to step in, but the market is selective
Deal focus: Indian drone maker takes flight
Recently launched Indian VC firm SphitiCap is making a high-conviction investment in local industrial drone maker Garuda Aerospace. It hopes a sizeable debut fund will help carry the start-up to IPO