May 2011
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India Venture set to launch R500-cr healthcare fund

India Venture Advisors, founded by industrialist Ajay Piramal and former State Bank of India (SBI) chairman AK Purwar to focus on healthcare and life sciences segment, is set to launch yet another healthcare-focused fund by September. It plans to raise R500 crore via new fund. Launched in 2007 the firm has a corpus of R900 crore ($200 million). The new fund will also focus on social infrastructure sectors, like education, sources said. Confirming to FE, the launch of a healthcare-focused fund, Purwar said, “The investors in the fund will be domestic, including institutional and high net worth individuals (HNIs).” India Venture Advisors has invested $11 million in C&C Construction last year and $18.4 million in Sri Kavery Medical Care (Trichy) in 2009. […]

JP Morgan invests $30 mn in Parsvnath project

JP Morgan has invested $30 million in Parsvnath Developers' residential project La Tropicana coming up in the Civil Lines area of New Delhi. The deal includes an additional funding for the real estate group through JP Morgan's local NBFC in India. According to a source close to the development, part of the funds raised has been used by Parsvnath to provide an exit to Red Fort Capital, which had invested Rs 115 crore in the project in 2009. Red Fort has made a 30% return on its investment in the project, sources in the know of the deal said. Ernst & Young, which was the advisor to the deal, and JP Morgan did not comment on the deal. Parsvnath did not respond to ET's queries. […]

Amundi SA to Acquire 37% Stake in SBI Funds

SBI Funds Management Private Limited (SBI FMPL), the asset management company of the SBI Mutual Fund, is a joint venture between State Bank of India (SBI) and Societe Generale Asset Management S.A. (SGAM), a subsidiary of Societe Generale S.A (SG). On 9 July 2009, SG and Credit Agricole SA, entered into an agreement to undertake a global merger of their fundamental asset management business. Pursuant to the Global Merger, which has completed on 31 December 2009, SBI FMPL will shortly become a joint venture between SBI and Amundi S.A. (Amundi), a leading European asset management company. […] raises $16 Million in Series B Funding, an online portal for Indian fashion, raised its series B funding of $16 million led by Tiger Global Management LLC. The existing investors Accel Partners and Helion Ventures also participated in the funding. The amount raised will be used to fund its international expansion plans and sign exclusive contracts with India's fashion designers. Founded in June 2010, the company raised its first round of venture capital funding of $2.8 million from Accel and Helion in November 2010. The site offers a variety of products including jewelry, handbags, crafts, paintings and wedding attire. Their main target audience is the NRIs and it has been catering solely to the U.S. The site plans to reach one million active, registered members in the next few months. […]