July 2009
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VC exits in first half lowest since 2007

Exits by venture capital (VC) firms slumped to their worst since 2007 in the first half of this year as mismatched valuations soured deals, and an overall liquidity crunch took a toll on the buying and public issue plans of Indian companies. Between January and June, only four firms saw exits by their VC investors, compared with five exits in the first half of last year and 14 in the same period in 2007, according to a study by Venture Intelligence, a research firm focused on private equity and merger and acquisition (M&A) deals in India. [...]

Anil Ambani, Kumar Birla to float PE funds

For private equity (PE) arms of big Indian corporations, fund-raising, such as charity, seems to be beginning at home. The Reliance-Anil Dhirubhai Ambani Group (R-Adag) will invest Rs400 crore in a PE fund being floated by group company Reliance Capital Ltd. This will include a contribution from R-Adag chairman Anil Ambani, a senior official of the group said. Similarly, Aditya Birla Group chairman Kumar Mangalam Birla will invest around Rs300 crore in the group’s PE fund. The R-Adag PE fund may raise Rs2,000 crore while the Aditya Birla Group’s PE fund will have a corpus of about Rs1,500 crore. [...]