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Ashok Amritraj's Hyde Park Entertainment is setting up a multi-million dollar fund in Asia for the production of feature films. The fund aims to raise $55-$73 million. Hyde Park's Asia offices will be based in Singapore. Hyde Park will produce or co-produce three to four films per year, which will include a mixture of English and local or regional language films to target international as well as national or regional market. The company aims to establish long-term producing partnerships with local production houses in India, Japan and South Korea. The fund has positive support from Singapore's Media Development Authority, though it is not going to put in money behind the fund. Singapore's Media Development Authority CEO Christopher Chia said that he expects the production funding to raise Singapore's position as a global media city. […]
SIDBI Venture Capital (SVCL), which manages two venture capital funds with total corpus of Rs 600 crore, is gearing up for more investments. Speaking to FE on the sidelines of announcement of his company’s investing Rs 30 crore in Mumbai based Centaur Group, Ajay Kapur, CEO, SVCL, said that “We are in harvesting mode nowadays and there was no chance of exiting from any of the funds we have invested at this moment”. The only fund which was exited by the SVCL in recent past was the NCR-based retail chain retail chain, Sabka Bazar which is promoted by a Muradabad-based firm. The SVCL, which had invested a sum of Rs 6 crore in the firm, sold off its entire stake to Spinach Group. Kapur said, “Most of the firms we have invested in our young and performing well, so we would like to wait for 3-4 years before deciding to exit. Out of our commitments to invest Rs 500 crore as SME Growth Fund within a period of three years, we have already invested Rs 375 crore so far in sectors like auto, textile, pharma, speciality chemical, industrial adhesive and others.” […]
Sidbi Venture capital (SVCL), the venture capital arm of Small Industries Dvelopment Bank of India, is planning its third fund this year, which will focus on early and growth stage companies across various verticals, a top official said. “We will come up with more funds in the current fiscal year. The focus is set equally across different segments that have growth potential,” SVCL's Chief Executive Officer, Ajay Kumar Kapur, told reporters here. However, he declined to divulge further details about the fund. SVCL had launched its first fund–National Fund for software and IT– with a corpus of Rs 100 crore, Kapur said, adding, “the fund has already been deployed fully in various firms”. The second fund, which is an SME Growth Fund, has a corpus of Rs 500 crore and had attracted investments from nine parties including Sidbi. […]
Khaleeji Commercial Bank has raised $163.5 million of equity from investors across GCC for Danat India Investment Company. Danat will invest in a real estate development project near New Delhi, targeted at the expanding middle class of India. India, currently one of the leading emerging markets is expected to be the world's third largest economy by 2050, ahead of Japan, the UK and Germany. “We are extremely pleased with the response to Danat, which is our first foray into the Indian Sub-continent,” said Khaleeji Commercial Bank chief executive officer Ebrahim H Ebrahim. “With a target return on investment of 83pc over a three-year period, Danat seeks to address the demand for middle income residential properties driven by increasing urbanisation, growing disposable income and easier financing options. It offers our investors an opportunity to potentially benefit from the continued growth of the Indian economy, especially the demand from its burgeoning middle class.” […]
Motilal Oswal Ventures Capital Advisors on Tuesday said its 125-million-dollars private equity fund -India Business Excellence Fund- plans to invest in 10-12 companies by this year-end. “We are close to sealing a few transactions within the next few weeks,” a Motilal Oswal Venture Capital Advisors Pvt Ltd (MOVCAPL) official told PTI here. The company was already evaluating various companies in which to pump in investment and “by end-this year, we hope to complete investments in about a dozen companies,” the official said. The 125-million-dollar growth stage fund which achieved its final closing in December last, invests across sectors except in retail and real estate. […]
India-focused investor Eredene Capital will seek shareholder approval to enter the fund management business and raise $200 million to fund a pipeline of ports and logistics investments, its chief executive said on Monday. Eredene's ability to raise money using its listed equity has been limited after its shares were hit by an expensive divorce from its externally managed investment firm Saffron Capital. Shares in Eredene were up 1.5 percent at 16.75 pence at 1108 GMT, but are less than half their February 2005 peak of 37 pence, when it began trading on London's junior AIM market. “We're talking with shareholders whether to raise funds through an issue of equity or via a third-party fund management route, and we can see ourselves going down that route,” Eredene CEO Alastair King told Reuters in a telephone interview. […]
ICICI VENTURE Fund Management Pvt Ltd, the private equity arm of India’s second largest bank, ICICI Bank, will raise as much as three billion dollars for an infrastructure and a real estate fund, reports Bloomberg. ICICI Venture will start the roadshows next week for a $1.5 billion fund, and may also look at raising a real estate fund of equal amount, ICICI Venture CEO Renuka Ramnath has been quoted as saying by Bloomberg. The proposed real estate fund will invest in residential and commercial projects in a dozen cities including New Delhi and Mumbai. Most of the funds will be raised from investors in the US, Europe, Japan, Canada and the Middle East. In September last year, Ramnath told Mint newspaper that it would raise $7.5 billion over three years for a variety of funds like real estate, hedge and mezzanine funds, besides a general PE fund. By the end of 2010, the firm plans to have over $10 billion capital under management. […]
The US-based PE fund Bain Capital PE, which has assets worth $40 billion under management, is setting up shop in India. Bain Capital, one of the top five PE funds in the world, has invested in companies such as Home Depot Supply and Burger King. It has appointed veteran in-vestment banker-turned PE investor Amit Chandra as its country head and MD for India operations. Sources say that Bain Capital is evaluating big India deals in the range of $100-200 million and would be setting up office in Mumbai. […]
German investment bank SachsenFonds (SF) has bought stake in four realty projects of London Stock Exchange listed, India-focussed realty fund Trikona Trinity Capital for Rs 607 crore ($150 million). Trikona has made returns of 115 per cent in the transaction. In the Delhi-based Uppal IT park, SF raised its stake from 8 per cent to 33 per cent. In the Hyderabad-based residential and retail project Manjira, SF picked up 41 per cent, thereby completely owning the project. In the MK Mall being developed by DB Realty in Mumbai, SF picked up 40 per cent and now owns 100 per cent of the mall. SF also took 15 per cent stake in Delhi's Luxor Cybercity, owned by Trikona. In another instance, Trikona and SF acquired 49 per cent in a redevelopment project in Bandra in Mumbai. The Mumbai-based Rustomjee Developers will undertake the development work, while SF and Trikona will contribute funds in the ratio of 55:45, Trikona said. Since SF is yet to set up its base in the country, Trikona is expected to manage all the assets. […]
Baring Private Equity Asia said yesterday that it closed the Baring Asia Private Equity Fund IV, a $1.52 billion private equity fund. Baring Asia now has $2.5 billion in assets under advisory and this latest fund is three times the size of the Baring Asia III fund it closed three years ago. That has performed well, with a net IRR to investors of 126% as of March 31, according to Baring Asia. Baring Asia said Fund IV will deploy the same investment strategy it used in its previous fund, which means it will target growing businesses in Asia with enterprise values between $100 million and $500 million that require capital for expansion, recapitalisation or for M&A purposes. Baring Asia IV will target companies in the alternative energy, media, financial services, consumer and industrial sectors with operations primarily in China and India, but it will also look at companies in Japan, Singapore, Hong Kong, Taiwan or Southeast Asia. […]
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