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Venture Capital firm 'Sequoia Capital' will invest $500-600 million in Indian companies, for meeting their capital requirements for growth, in the next couple of years. “We will invest money ranging between $500 and $600 million in Indian companies in next couple of years,” Sequoia Capital (India), Associate, Ravi Shankar, told PTI here. Sequoia Capital, which mainly invests in young companies having potential to grow, has identified various emerging sectors in the country and would address their needs. “We have found several areas such as internet mobile, specialised retailing, telecom, KPO etc in the country which offer immense potential and we would like to focus on these areas,” he added. […]
Gulf Finance House (GFH) yesterday announced that it has raised more than $630 million from GCC investors to fund the infrastructure development of Energy City in India. This is the most successful equity raising in the investment bank's history and GFH is now looking at further investment opportunities in India. The equity issue was underwritten by Kuwait Investment Company. “The success of the exercise to raise equity for Energy City India underscores the strong appetite of our clients for opportunities in India as well as the success of our Energy City Qatar project,” GFH chairman Esam Janahi said. “Sophisticated global investors have been eyeing India for some time and are looking for opportunities to invest in its economic development, particularly after the liberalisation reforms introduced a few years ago. […]
India-focused real estate investment company Yatra Capital Ltd said it has raised about 120 mln eur gross via a placing of about 11.43 mln new shares at 10.50 eur each. After the offering, Yatra will have about 21.43 mln shares outstanding. Last month, Yatra said it planned to raise 150 mln eur through an equity offering in the Netherlands and private placements and invest the money in various Indian projects. At the time, Yatra said its advisor, K2 Investment Committee, had identified further financing opportunities of 231 mln eur. Since its initial capital raising in Dec 2006, Yatra has committed to investing 88.4 mln eur through ten investments in India.(Forbes) […]
ICICI Venture Funds Management Ltd, private equity arm of ICICI Bank Ltd, is floating a $2 billion real estate fund next month, reports quoting its chief executive said. The new real estate fund will have a tenure of 10 years and the money will be invested in projects within three years, the report quoted Renuka Ramnath, managing director and chief executive of ICICI Venture, as saying. ICICI Venture manages assets of more than $2 billion and had raised a $550 million real estate fund earlier. It has a strategic long-term joint venture with Tishman Speyer Properties in India.(Domain B) […]
US-Based Bessemer Venture Partners, which recently closed its seventh global fund at about $1 billion, has earmarked $350 million for Indian investments, especially in companies that cash in on the rise of consumer spending, infrastructure development and intellectual property-based opportunities, a senior official said. The investment house is also in advanced talks with one company each in construction, power and renewable energy sectors, as part of a plan to increase its portfolio by as many as 25 investments through the India-specific fund from the current 17, BVP India managing director Devesh Garg said. The proposed investment in the construction firm could be in the order of $25 million while that in the other firms could be up to $15 million each, he added. “The consumer class in the country is definitely on the move up. Hence, we are more interested in investing in branded products and services,” Garg told ET in an interview. “Secondly, the country’s government looks dead serious about infrastructure development. Hence, there is scope for companies involved in construction, roads, power generation, which is why this sector also attracts us in India. Finally, we would like to invest in companies involved in exports of skill-based products, taking advantage of India’s excellent base of intellectual capital.” […]
IDFC Private Equity, a wholly owned subsidiary of Infrastructure and Development Finance Corporation (IDFC), plans to launch its third private equity fund by December 2007. It hopes to raise Rs 7,000-8,000 crore by the end of this financial year for this fund. The infrastructure company had raised Rs 7,000 crore for its first and second funds. “If the growth continues to be as strong as it is now, we will have to raise more capital,” said Rajiv Lall, managing director and CEO of IDFC, said in a conference call with analysts after announcing the financial institution’s second-quarter results. IDFC’s second quarter profit, including that of its units, rose 26%, to Rs 194 crore from Rs 154 crore a year earlier. Revenue rose 63% to Rs 657 crore. Net interest income (NII) has increased by 55% from Rs 213 crore during the first half of 2007 to Rs 329 crore 2008. […]
The Bangalore-based QVC Realty Pvt. Ltd, India’s first venture capital funded real estate company is looking to raise around $100-$200 million (Rs390-780 crore) in a second round of funding from private equity firms. QVC raised $100 million of venture capital funding in April this year from IL&FS Investment Managers (IIML), the private equity arm of Infrastructure Leasing & Financial Services Ltd. IIML raised $525 million in 2006 to invest in the Indian realty sector, and holds a majority stake in QVC. The company is now looking at raising more capital to fund its expansion plans. “We will look at raising capital in a second round of funding sometime towards the end of next year to fund our projects,” Prakash Gurbaxani, founder and CEO of QVC Realty said. QVC will use the capital to develop real estate assets including residential townships and commercial property including retail spaces and hotels. The focus will, however, be on developing large integrated townships. QVC plans to develop around 6-10 million sq. ft of property over the next five years in markets such as Mumbai, New Delhi, Bangalore, Hyderabad, Chennai, Pune and tier 2 or smaller cities such as Kolkata, Chandigarh, Nagpur and Kochi. (Livemint) […]
The Anand Jain promoted Jai Corp Ltd, which has been traditionally into manufacturing businesses like steel, plastic processing and spinning yarn, is planning to raise a venture capital corpus of Rs 40,000 crore through its wholly owned subsidiary, Urban Infrastructure Venture Capital (Pvt) Ltd. Jai Corp has already committed a capital of Rs 22,000 crore in 12 cities in India. The major investments would be in multiuse projects and townships (22% each), residential (15%) commercial (14%), industrial township (12%) and hospitality (6%). UIVCPL will be a venture capital company with a focus on the real estate sector. […]
Hyderabad-based venture capital investor Ventureast Funds, the former joint venture with Andhra Pradesh Industrial Development Corp. Ltd (APIDC), plans to raise new funds worth $150 million (around Rs590 crore) by March. The firm, which currently manages $150 million, “plans to double the capital under management”, said Sarath Naru, managing director, Ventureast. Among the funds planned, two will focus exclusively on life sciences and information technology (IT), respectively. The life sciences fund will be branded under the APIDC umbrella and the IT-focused fund under the Ventureast brand. The firm, formally registered as APIDC Venture Capital Ltd, manages funds under both brands. While it is still working on the details, the IT fund will be managed out of its Chennai office, while the life sciences fund will operate from Hyderabad. The new funds will have repeat investors, Naru said. Current investors include domestic investors such as Andhra Bank, Indian Overseas Bank and Life Insurance Corp., and overseas investors such as IFC Washington, Saudi Economic and Development Co. (Saudi Arabia) and Norfund (Norway). Ventureast, an outfit that Naru founded, set up its first fund in the country in 1997 as a joint venture with APIDC, when the state government outfit decided to partially privatize its venture capital operations. At the time, APIDC owned a 49% stake in APIDC Venture. […]
The infrastructure funding story is getting better and better. After raising $192 million and $440 million for its first and second funds respectively, IDFC Private Equity, the PE arm and wholly owned subsidiary of Infrastructure and Development Finance Corporation (IDFC), is expected to raise $700 million for its third fund. According to industry information, the company is expected to take a call on the size of its third fund by the end of December 2007, when 75 per cent of its second fund will be committed. A spokesperson could not be contacted for official comments. IDFC PE was set up in 2002 and in a span of five years has entrenched itself in the PE sector by funding notable deals such as Manipal Group’s education and healthcare expansion, Gujarat Pipavav Port, GMR Infrastructure besides Hotel Leelaventure. Industry information further indicate that global Fund of Funds as Thomas Weisel is expected to have shown further interest in the third fund being planned by IDFC PE. In addition to this, NEA Ventures, an existing investor is also expected to come back. […]
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