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One of India's most successful entrepreneurs is turning into a venture capitalist (VC). Infosys Technologies' co-founder and chief mentor N R Narayana Murthy, on Thursday, sold shares worth Rs 180 crore to start a venture capital firm that would fund start-ups mainly in India. The idea is to encourage young entrepreneurs with brilliant ideas. The VC will invest in start-ups operating in the areas of basic healthcare, education and nutrition. In a reversal of roles, in deciding to become a VC, Murthy is following in the footsteps of his daughter Akshata who was until recently a VC based out of Bay Area in Silicon Valley operating in the clean tech space. Until her marriage to Rishi Sunak in August, she was a senior associate at Siderian Ventures. […]
Leading international clinic chain Asklepios International is gearing up for a foray into the Indian healthcare market. As part of the 2.3 billion euro group’s strategy to enter the sub-continent, Asklepios is mulling the launch of a $100 to $200 million fund, according to a person familiar with the development. If this fund goes through, it would be the first German big-ticket investment in the $35-billion Indian healthcare segment. The Asklepios group has been scouting for anchor clients in India to firm up the venture, the source told ET on condition of anonymity. […]
Private equity fund Warburg Pincus and Citigroup’s private equity arm Citigroup Venture Capital International (CVCI) are among investors rushing to exit as they plan to sell stakes in Indian companies such as real estate developer Emaar MGF in initial public offerings, exploiting the record stocks rally this year. Morgan Stanley fund and foreign venture fund Monet will sell a part of their stake in the TV channel distributor Hathway Cable and Trinity Capital will exit IL&FS Transportation Network, filings with the regulator show. “Five years is an average investment holding period for PE investors,’’ says Rajeev Gupta, managing director, Carlyle India Advisors, which owns stake in the nation’s biggest mortgage company Housing Development Finance Corp. […]
Aditya Birla Private Equity Fund, which is looking to raise Rs 1,250 crore, has finalised some investments, including 0.5 per cent in the country’s oldest exchange, the Bombay Stock Exchange, said sources close to the development. The sources said the fund is likely to pay Rs 21 crore for the 0.5 per cent in BSE, thereby valuing the exchange at Rs 4,200 crore ($0.9 billion). When asked, the BSE spokesperson declined to comment. According to analysts, BSE’s rival and the market leader, National Stock Exchange, has been valued at $2.5 billion. Financial Technologies-promoted MCX-SX, yet to start operations, has been valued at $1 bn, based on its sale of stake to IFCI. […]
Indiareit Fund, a real estate captial fund promoted by Piramal Enterprises, today launched a close- ended domestic venture captial fund scheme focused on investing in Indian real estate market. “The investment objective of the fund is to make investments in projects within the gambit of real estate focusing on long-term capital appreciation,” Indareit CEO and MD Ramesh Jogani told reporters here. He said the fund would participate by means of equity instruments of unlisted companies (special purpose vehicles for specific projects identified by the fund for investment) engaged in real estate. […]
Private equity fund manager, IL&FS Investment Managers, has raised USD640mn for its infrastructure fund floated in a joint venture with Standard Chartered Bank, a top official said today. The Standard Chartered IL&FS Asia Infrastructure Growth Fund, plans to mop up a total of USD800mn by December, IL&FS Investment Managers managing partner Krishna Kumar said. “We have a handful of investors to contribute to this fund. It would invest in 15-18 projects in Asian markets,” Kumar told reporters at a private equity summit here. […]
Global private equity firm Actis today said it has raised $750 million for investment in infrastructure across emerging markets, including India. These pan-emerging markets will focus principally on opportunities in power generation and transport, Actis said in a statement, adding the $750 million will come under its 'Actis Infrastructure Fund 2'. “Actis' presence on the ground across Africa, China, India, Latin America and South East Asia gives the fund an unrivalled presence in its targets markets,” it added. […]
Kaizen Management Advisors, India’s first education-focused private equity (PE) fund, will close a $150-200 million (around Rs 720-960 crore) fund by the middle of next year. The fund is looking at investing in two education institutions by the end of this year. Kaizen was set up in mid-2009 and has a 10-member team in India. At present, it is managing capital raised from domestic institutions and high networth investors. “Later this year, we will target international investors who are keen to tap the massive recession-proof education sector in India. We are currently evaluating more than a dozen investment opportunities,” said Sandeep Aneja, MD, Kaizen Management Advisors. […]
U.S. buyout giant Carlyle sees more deal opportunities in Southeast Asia than in India and is ready to make more investments in the next 20 months as the regional economy recovers fast, a senior executive said. X.D. Yang, a managing director for Carlyle's buyout fund in Asia, said on Thursday that the so-called Greater China area, including Hong Kong, mainland China and Taiwan, remained a regional deal focus for Carlyle, although he acknowledged difficulties in doing controlling deals in China. Buyout opportunities for private equity firms among Indian companies are limited because Indian firms find it easy to list on the domestic stock market and many family businesses are not up for sale, Yang told Reuters on the sidelines of the SuperReturn Asia Conference. […]
Sanofi-Aventis, the $42-billion French drug maker, which bought companies in Brazil, Mexico, and the home-grown Shanta Biotech this year,has sent a delegation to India to finalise another target for acquisition in a market that is estimated to be worth more than $17 billion and growing, two persons familiar with the matter said. The top team from Sanofi met executives at some Indian pharma companies, including the country’s fourth-largest drug maker Piramal Healthcare and privately-held Micro Labs, for a probable acquisition. This is the second time that Sanofi is courting Piramals this year, people aware of the negotiations said. But Piramals denied it saying they are negotiating for a stake sale. […]
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