India
Tribe, Moore Strategic lead Series C for India's Khatabook
Tribe Capital and Moore Strategic Ventures have led a $100 million Series C round for Khatabook – an India-based bookkeeping app aimed at small merchants – at a valuation of $600 million.
ChrysCapital, True North join $150m Quest Global deal
ChrysCapital and True North Managers have participated in a $150 million investment for a minority stake in Quest Global, an Indian engineering services outsourcing company.
Kedaara, Partners Group complete Aavas sell-downs
Kedaara Capital and Partners Group have made partial exits from Aavas Financiers, the mortgage business they carved out from Indian non-banking finance company Au Financiers in 2016 and took public two years later.
India's 3one4 names new partner
Indian venture capital firm 3one4 Capital has elevated Anurag Ramdasan to partner level, alongside a rush of more junior promotions.
Postman becomes India’s top SaaS unicorn
Software-as-a-service (SaaS) provider Postman has closed a $225 million Series D round at a valuation of $5.6 billion, making it the most valuable start-up of its kind in India.
Faering leads $40m Series C for India fintech start-up
Indian private equity firm Faering Capital has led a $40 million Series C round for stock trading and thematic portfolio platform Smallcase, with support from Amazon and Premji Invest.
Start-up profiles: Digital banking, embedded finance, crypto banking
The Philippines’ Tonik breaks ground in neo-banking; India’s YAP finds new ways to connect banks with their customers; Singapore’s Matrixport scales fast with decentralized finance
Start-up profiles: Infrastructure, insurance, data, payments
Singapore’s Fireblocks tokenizes traditional banks; India’s PolicyBazaar mulls the future of insurance; China’s Rong360 diversifies through data; Cambodia’s Clik targets a payments frontier
Start-up profiles: Transfers, risk, marketplaces
Singapore’s Thunes rethinks remittances for an enterprise clientele; China’s IceKredit brings data privacy to credit scoring; India’s OfBusiness gravitates towards a healthy loans segment
Asia fintech: Platform plays
Expansion is the dominant theme in financial technology as start-ups leverage existing assets to enter new verticals, typically in lending. Which ones will become Asia’s preeminent platforms?
India motorcycle taxi platform raises $52m
Indian motorcycle taxi platform Rapido has raised $52 million in Series C funding featuring the corporate VC arm of Shell.
Partners Group buys India broadband provider for $1.2b
Partners Group has agreed to buy India-based broadband provider Atria Convergence Technologies for an enterprise valuation of nearly $1.2 billion, facilitating a full exit for True North and a partial exit for TA Associates.
India's Dailyhunt raises $450m at $3b valuation
VerSe Innovation, operator of Indian news app Dailyhunt, has raised $450 million in Series I funding featuring The Carlyle Group at a valuation of about $3 billion.
India's Eruditus raises $650m at $3.2b valuation
India’s Eruditus Executive Education, operator of professional upskilling portal Emeritus, has raised a $650 million Series E round led by Accel and SoftBank Vision Fund 2 at a valuation of $3.2 billion.
India's Dream Sports launches $250m corporate VC fund
Dream Sports, operator of India’s largest fantasy sports platform, has established a $250 million venture capital unit that will invest in sports, gaming, and fitness-tech start-ups nationwide.
Kedaara surpasses $1b for third India fund
India-focused middle-market private equity firm Kedaara Capital has closed its third fund at just under $1.1 billion, spurred by strong performance from its debut vehicle.
Stellaris closes second India VC fund on $225m
Stellaris Venture Partners has closed its second early-stage India fund on $225 million, comfortably exceeding the $160 million target while diversifying the LP base.
Vision Fund pulls back from China amid regulatory uncertainty
SoftBank Vision Fund is taking a “wait and see” approach to China, holding back on new investments in the country until the full ramifications of regulatory action in the technology sector are known.
CoinDCX raises $90m, becomes India’s first crypto unicorn
B Capital Group has led a $90 million Series C round for Indian cryptocurrency exchange CoinDCX at a valuation of $1.1 billion, making it the country’s first crypto unicorn.
Baring acquires Hinduja healthcare business for $1.2b
Baring Private Equity Asia has agreed to buy a healthcare services unit of Anglo-Indian conglomerate Hinduja Group at an enterprise valuation of $1.2 billion.
India family offices: Tech exposure
Demand for technology exposure among India’s most affluent is intensifying. Family offices may vary in profile, experience, and mode of access, but they all want a piece of the latest hot start-up
Creador, NewQuest, TR invest Yum Brands India franchisee
Creador, NewQuest Capital Partners, and TR Capital have co-led an INR11.5 billion ($155 million) investment in Sapphire Foods India, a franchisee operator of US fast food giant Yum Brands.