|
|
Asia Pacific Carbon Fund, managed by Asian Development Bank, is scouting for renewable energy and energy efficient projects in India to provide co-financing and technical support. The fund which recently (in early August) raised $151.8 million from investors, including those from Europe, has a mandate to finance Clean Development Mechanism (CDM) projects in any of ADB’s 44 developing member countries. “The Carbon Fund team is speaking with a number of project proponents in India in a number of states involving a range of CDM projects in various sectors,” a ADB official said. India was a priority for the fund due to its size and potential as well as the government’s commitment to foster clean energy in the country, the official said. […]
Silicon Valley’s leading venture capital firm Draper Fisher Jurvetson (DFJ) is finally setting up its shop in India. The early stage technology-focused VC is opening its Bangalore office in September with also a presence in Hyderabad. DFJ has kept aside $75 million of its recently raised $600-million DFJ IX fund for India. DFJ managing director Don Wood told ET that Mohanjit Jolly, a partner with the firm, will be moving to Bangalore next month. “DFJ will be investing in India directly out of our DFJ IX fund that we recently raised. In addition, we plan to partner with an existing fund in India to join our DFJ global network, which is now comprised of over 20 funds. We hope to find our new partner for India this year.’’ The DFJ offices in India will have Mr Jolly and venture partner Sateesh Andra in Hyderabad. The plan is to add to the staff at analyst and/or associate levels. DFJ is not new to India and has made several investments here. Past investments include $2 million in online DVD rental company Seventymm, Komli, and $20 million in electric car maker Reva. According to Mr Jolly, the firm is currently in the final stages of two investments in India out of IX.(ET) […]
Housing Development Finance, India's second-largest mortgage company, said it raised $800 million from overseas investors for a real estate fund to tap the nation's growing demand for homes and offices. The Mumbai-based company is seeking a 20 percent to 25 percent return for the nine-year fund, it said in a statement. The firm said its knowledge of the Indian market gives it a competitive advantage. “The fund will have a conservative approach with no regional or sector bias” and will invest in the residential, commercial, hospitality, education and health care sectors, as well as in developers, said the chairwoman of HDFC Property Ventures, Renu Sud Karnad. India's real estate development market may increase more than sevenfold to $90 billion by 2015 from $12 billion in 2005, Moody's Investors Service said in June. Funds of global investment banks such as Morgan Stanley and Deutsche Bank are investing in Indian real estate as an economy that has grown at 8.6 percent for the past four years drives demand for property. “The returns that numerous investments have generated in recent years have caught the attention of the investor community,” HDFC said.( IHT) […]
The International Finance Corp is likely to take a 10-12% stake in an infrastructure fund to be floated by India’s Infrastructure Development and Finance Co, the Financial Express said on Sunday, 26 August. The private sector lending unit of the World Bank will invest around $100 million in India Infrastructure Fund, and other partners in the fund such as Citigroup and private equity firm Blackstone will commit $300 million, it said. Talks are continuing on raising $1.2 billion from domestic and foreign investors, with the aim of securing a deal by the end of September with 10-15 investors, the paper said, quoting sources. The fund would invest in sectors such as energy and utilities, telecoms, water supply and waste collection among others, it said. (Livemint) […]
The rush to raise India-specific private equity funds continues unabated. After Barings India Private Equity Partners’ announcement to raise around $450-500 million for their next fund, it is understood that Sequoia Capital India is also mulling to raise its second growth fund with a corpus of at least around $500 million. The new fund is expected to be in place in the next year. Sequoia India is currently investing from its first $400-million late-stage fund, of which nearly 60 per cent has been committed. Industry sources indicate that Sequoia is readying the stables for its second fund, which will not be less than $400-million. Sequoia declined to comment on this development. Sequoia India currently manages $1-billion funds focused on India. Some of its investments include Applabs, Bharti Telesoft, Café Coffee Day, Firstsource, GlobalLogic, Travelguru, Shaadi and Guruji. Globally, Sequoia Capital has been an early investor in such companies as Google, Yahoo, Apple, Oracle, Cisco and YouTube. […]
3i Group Plc, Europe's biggest publicly traded buyout and venture capital firm, said it plans to raise $1 billion for a fund to invest in Indian roads, ports and other infrastructure. The group said it will invest a minimum of $250 million in the fund and its unit 3i Infrastructure Ltd. agreed to commit the same amount. It will raise the remainder from third-party investors, the statement said. India's gross domestic product has expanded at a record 8.6 percent average pace since 2003, faster than any of the world's top 20 economies except China. The government plans to build $320 billion of infrastructure projects to ease bottlenecks that are constraining growth. […]
Greylock Venture Partners, the US-based venture capital firm with $2 billion under management, has made its debut in India. The firm, which has backed globally renowned companies including Staples, RedHat and Facebook, made its first Indian investment in TechProcess (formerly BillJunction) as a growth stage venture funding. Greylock is currently investing from its $500 million global fund. TechProcess was initially funded by ICICI Ventures in 2000. Over the years it developed expertise in transaction and payment processing services across a spectrum of industries in India. Its services include processing transactions (debit & credit) for telecom, insurance, mutual funds, credit cards, banks and non-banking finance companies. In the insurance sector, offerings include both centralised and decentralised services in account receivables, account payables and document processing. A representative of Greylock India declined to spell out details of the investment as TechProcess might announce the details shortly. Greylock, however, added that they were part of a consortium which invested in Techprocess recently. […]
Ajay Piramal group on Monday launched a $200 million private equity fund dedicated to healthcare. This is the second healthcare-dedicated fund after Evolvence India launched one last year. The Mukesh Ambani-controlled Reliance Life Sciences, too, is looking at starting a similar fund along with MPM Capital that manages world’s largest healthcare-dedicated fund. State Bank of India’s ex-chairman A K Purwar has teamed up with Ajay Piramal for this fund and is expected to be launched in September. The fund will invest in hospitals, specialty clinics, IT/BPO and hi-tech equipment manufacturer. “Each investment will be in the range of $15-$20 million,” Purwar told DNA Money. […]
Sequoia Capital India, India’s leading venture capital and growth equity investment firm, has closed its third venture capital fund for India at approximately $300 million. This, the company claimed, is the largest venture capital fund ever raised for India, as opposed to private equity or late stage fund, and makes Sequoia Capital India (formerly known as WestBridge Capital Partners) India’s largest and most active backer of early stage companies. Consistent with its two prior India-focused venture capital funds, this fund will focus on investing in high-growth early stage companies across sectors. The firm currently manages over $1 billion in dedicated capital for India across three venture capital funds and a growth equity fund. […]
Despite hiccups caused by global factors, India will remain one of the most attractive destinations among all the emerging markets for private equity players, feels Ajay Relan, managing director, Citigroup Venture Capital International. India would continue to receive $5-6 billion annually from private equity investors, Relan added. Citigroup Venture Capital alone is planning to invest around $1.4 billion in the next two years in India. “Citigroup has raised a little over $4 billion as emerging market funds. Of this, India is expected to get around $1.4 billion,” Relan said. Other leading private equity players like Blackstone, Warburg Pincus, Carlyle, Texas Pacific Group and Kohlberg Kravis Roberts are already present in the country and are planning to invest billions of dollars. Citigroup Venture Capital has acquired a 75 per cent stake in Sharekhan for $175 million. The deal expected to close in the next couple of days. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|