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Global investors, including private equity majors and dedicated carbon funds, are throwing their weight behind compact fluorescent lamp (CFL) manufacturers in their bids for “green” projects on the anvil, especially Clean Development Mechanism-based CFL supply schemes. Climate Change Capital (CCC), which manages the world’s largest private sector carbon fund, has indicated its keenness to fund the CDM-based energy efficiency lighting projects being planned by the Centre as well as those coming up across States, such as Andhra Pradesh and Haryana. Among PE funds, Baring Private Equity Partners plans to channel a significant amount of its $1-billion fund in India into the energy business, especially the clean energy segment, according to industry sources. […]
Foreign venture capital investors (FVCI) waiting for an RBI approval for the past few weeks may finally get the nod to go ahead. The central bank is likely to start the process of approving pending FVCI applications. More than 50 applications from foreign venture funds are currently pending with RBI. However, venture investors eyeing the real estate sector may still have to wait. Of the 50 applications pending, at least 21 relate to realty. But the High-Level Co-ordination Committee on Financial Markets seems to be favourably inclined to other sectors. These applications have been lying with the RBI, despite Sebi vetting these as per the FVCI regulations. Sebi had raised this issue at a meeting recently. […]
Private equity(PE) firms are going beyond large corporates and super specialty hospitals to tap the Indian healthcare market. While ICICI Venture and Asian Health Alliance (AHA) are investing in a series of standalone regional hospitals, other PE firms are funding secondary hospitals in small towns. ICICI has floated I-Ven Medicare, a $250 million fund to invest in healthcare sector. The company has already invested in a series of stand-alone and niche secondary hospitals. These include $36 million in Sahyadri Hospital (Pune) and $24 million in Vikram Hospital (Mysore) besides $16.25 million in Medica Synergy (Kolkata) and $10.25 million in Delhi-based urology chain, RG Stone. […]
At a time the global economy is slowing and investors are shying away from equity markets, the Indian infrastructure sector contines to attract global equity funds. India-specific infrastructure funds worth over Rs 30,000 crore are in various stages of being raised. Important among them include a Rs 12,000-crore fund from ICICI ventures, a Rs 8,000-crore fund from Macquarie Capital Group, the SBI and International Finance Corporation (IFC), and a Rs 4,000-crore fund from Kotak Investment Advisors Ltd. In this calender year, India-focussed infrastructure funds of around Rs 10,000 crore have been raised to date. These include an over Rs 4,900-crore fund from 3i capital, Rs 2,000 crore offerings by Citigroup and Rs 800 crore raised by AXIS PE. […]
Venture capital firm Draper Fisher Jurvetson, or DFJ, has invested an undisclosed amount in online education company Catura Systems Inc., its first solo investment since it set up an office in India in September. DFJ associate Prasanna Krishnan and India executive director Mohanjit Jolly have joined the board of Catura, an Indo-US cross-border firm, based both in Santa Clara, California, and Gurgaon, on New Delhi’s outskirts. DFJ India has been investing aggressively, closing 11 deals in as many months and exhausting more than half the $100 million (about Rs428 crore) India allocation—out of a global $650 million fund—that it intended to invest over three years. This includes three undisclosed deals in online publishing, e-waste management and semiconductor services. Of its disclosed investments, the firm has co-invested with other venture firms in all its deals except Catura. […]
SeedFund, an Indian VC firm backed with Google’s cash, announced a $1 million investment in Lifeblob, a Bangalore-based lifecasting company whose awkward name just about says it all. Lifeblob is a kind of digital diary that maps the media you share and thoughts you write onto a timeline. You can adjust the scale of this timeline to reflect the history of your online life in increments ranging from every day to a somewhat ambitious 100 years. Each entry appears as a “blob” that you can click on to expand. Lifeblob joins an increasing number of start-ups doing variations on this theme. These include Dandelife, Dipity, AllofMe and, in some ways, Plurk. Of the batch, Dipity and AllofMe are the most similar.The company, which has been in beta for months, opened up to the public today. […]
Hyderabad-based Indu Projects has raised $113 million (about Rs 476 crore) from Credit Suisse, the Swiss investment bank. Indu will receive about $77 million (Rs 325 crore) in the first tranche of the funding and the balance would flow in the next 90 days. Indu Projects is a growing infrastructure company with interests in real estate, housing and market infrastructure. “The fund will be used for both our existing and future requirements. Credit Suisse has seen the potential in this market and the business plan we have,” Indu chairman and managing director Syam Prasad Reddy told DNA Money on Thursday.Credit Suisse will get a 10% stake, while the rest 20% of it is shared by Citigroup Venture Capital, Maple Holdings, IDFC, Sun Apollo and Red Fort Capital. […]
Healthcare services provider Kerela Institute of Medical Sciences is looking to acquire two hospitals in South India and has earmarked a budget of Rs 300 crore for the purpose. The company is primarily interested in acquiring hospital with a capacity of 100-150 beds in Bangalore and surrounding areas in South India. The company is presently in talks with two leading private equity funds to raise corpus for the expansions. Out of these two players, one is Singapore based healthcare focused PE player and other one domestic one who has made sizeable investments in healthcare segment. Besides this, KIMS also plans to get itself listed in Bombay Stock Exchange also in the next three years. […]
Communications and Manufacturing Association of India (CMAI), an industry body of ICT manufacturers, said on Wednesday that it has arranged a venture fund of $100 million for the promotion of eco-friendly research and manufacturing projects in the country. This fund has been arranged with the help of the association members and will be provided to the companies who are into research and manufacturing of telecom and ICT products in an environment-friendly manner, CMAI President N K Goyal said. “We will be channelising this fund for companies in ICT research and manufacturing and who are environment conscious,” he said. […]
Fortis Healthworld has acquired CRS Health, a Delhi-based pharma and wellness retail chain. It is also planning to rebrand itself and the pharma chains it acquires in future as Religare Wellness. CRS is the drug retailing arm of the diversified Delhi-based SAK Industries. Though the size of the deal is not big, it is Malvinder Singh and Shivinder Singh’s first acquisition since they sold their pharma company Ranbaxy to Daiichi Sankyo. Fortis will pay around Rs 15 crore to acquire 90% stake in CRS Health. Ravi Rajan & Company was the advisor to the deal. […]
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