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With over 60% of its second fund exhausted, Mumbai-based BTS Investment Advisors is gearing up to launch a third fund, titled BTS Fund II, by mid-2009. K Srinivas, managing partner, BTS Investment Advisors, said while the first and second funds were in the region of $22 million and $80 million respectively, the third fund is expected to be around $200 million. “As deal sizes increase from $1.2-3 million in 1997 to $7-8 million in 2005 and $12-15 million now, we are struggling to meet the funding requirements and have to bring in co-investors to serve the purpose,” he said. The third fund will also focus on SME group. “We would like to stay with it and maintain our dominance in that segment,” said Srinivas. […]
Bharti Airtel Ltd has launched a venture fund on Thursday with an initial Rs2 billion ($44 million) to promote content and technology development. India, with nearly 300 million mobile users, is the second-largest wireless market in the world after China, and still has the potential for further huge growth as only just over a quarter of its billion-plus population use cellphones now. Operators are signing up 8-9 million users every month, and consultancy Gartner expects 737 million connections by 2012. The growth potential has encouraged mobile operators to step up investment on technology and content as they look to tap underdeveloped rural areas.(Livemint) […]
DHFL Venture Capital, the asset management arm of Dewan Housing Finance Corporation (DHFL), is raising $250 million for its second international realty fund. The fund will close in two tranches, with the first tranche of $100 million expected to close in two months. However, the company has not set any time-frame for raising the entire corpus of the fund. Dewan Housing Finance Chief Financial Officer Prashant Chaturvedi said that the money will be raised from offshore investors. “DHFL will have some share in the fund depending on the what the National Housing Bank permits.” The company had launched its first local fund of Rs 100 crore two years ago with DHFL investing Rs 35 crore while the remaining Rs 65 crore was raised from banks and financial institutions. […]
Bharti Airtel Ltd , India's No. 1 mobile operator, launched a venture fund on Thursday with an initial 2 billion rupees ($44 million) to promote content and technology development. India, with nearly 300 million mobile users, is the second-largest wireless market in the world after China, and still has the potential for further huge growth as only just over a quarter of its billion-plus population use cellphones now. Operators are signing up 8-9 million users every month, and consultancy Gartner expects 737 million connections by 2012. The growth potential has encouraged mobile operators to step up investment on technology and content as they look to tap underdeveloped rural areas. (Reuters) […]
An Asia-focused private equity (PE) fund, Olympus Capital Holdings, that has already invested around $1.5 bn in growing economies such as Japan, Korea and Greater China, is setting up shop in India. The PE fund till now had a representative office here, but has now decided to set up full-fledged office with a six-member team. It has appointed Gaurav Malik as the MD for its India operations, which would be based in the Delhi NCR region. Mr Malik was earlier based out of the firm’s Hong Kong office and has worked with it since the last six years. “India is emerging as a very important market for PE players like us. We are hopeful that the country will see a huge inflow of investment,” said Mr Malik. […]
New York-based private equity firm Jina Ventures plans to raise up to $200 million by end-2008 to invest mainly in manufacturig firms in India, its managing partner told Reuters on Tuesday. “We are talking to investors from Switzerland, the U.S. and Japan and should be able to wrap up the fund by end-2008,” Ron Shah said on the sidelines of a capital markets conference. Jina Ventures had raised $50 million in 2005, which it invested in 12 Indian firms and had exited these investments, Shah said.(Reuters) […]
Property developer and fund manager Tishman Speyer plans to raise up to $1 billion in a private fund in 8-10 months for Indian realty projects, its managing director and head of finance Revathy Ashok said on Tuesday. “We still have some money left over from a previous one and we are already talking to investors for our next fund, though we haven't started roadshows yet,” she told reporters on the sidelines of a capital markets conference. Tishman has raised $350 million in a private fund this year and is funding three projects in south India.(Reuters) […]
Anand Jain-controlled Jai Corporation, an infrastructure company, has raised commitments worth Rs 5,686 crore through its venture capital management company’s two funds. Urban Infrastructure Venture Capital (UIVCL), the company’s venture capital company, is the Indian Advisor to UIREF, a Mauritius-based offshore fund that invests in Indian real estate. Urban Infrastructure Real Estate Fund, the offshore fund that was launched in May last year, has raised commitments of $555 million (around Rs 2,400 crore) so far. With an additional commitment of Rs 1,065 crore in May, the second fund – the Urban Infrastructure Opportunities Fund (UIOF) – has raised its corpus fund to Rs 3,286 crore, the company said in its annual report recently. Both funds invest in special purpose vehicles (SPVs) that are floated for real estate projects in India. Jai Corp plans to grow the SPVs into large real estate development companies by providing funding for multiple projects. The investment focus, according to the report, is on developing large integrated townships and multi-use developments. […]
Private equity company Sequoia Capital India is eyeing 10-15 deals across several sectors, Sandeep Singhal, the company’s managing director, said in an interview today. “We are currently evaluating these deals. We may not invest in any of these companies or may invest in more than one depending on how attractive the opportunity is,” he sad. Sequoia Capital India, which was formed after merging WestBridge Capital Partners with Silicon Valley-based Sequoia in 2006, currently manages three venture capital, early-stage and two private equity growth funds. The private equity company recently raised $725 million under its second growth fund, Sequoia Capital India Growth Fund II. This takes the total funds under management to around $1.8 billion. […]
Saffron Asset Advisors, a private equity player, is planning to launch three new funds — in hospitality, logistics and infrastructure — by early 2010. Ajoy Veer Kapoor, founder and managing director, Saffron Asset Advisors told FE, “We are planning a $500 million infrastructure fund, and will introduce $200 million hospitality and logistics funds. We will source funds through foreign direct investments (FDIs).” The company plans to enter into real estate deals in cities such as Mumbai, Delhi, Tirupur and Vishakhapatnam, among others, and will hold talks with real estate majors such as Unitech, DLF, Indiabulls and the Lodha Group. With the 30% fall in the capital markets since January this year, more and more firms are looking at private equity as an alternative fund-raising source. During the first seven months of 2008, PE firms invested $7.44 billion across 248 investments in India. […]
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