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Bessemer Venture Partners, a U.S. venture-capital firm, plans to invest $350 million of its new $1 billion fund in India, one of the world's fastest growing economies. The fund, Bessemer Venture Partners Global Fund VII, closed Thursday and had been significantly oversubscribed, according to the firm. BVP managing partner Rob Chandra sees India as an excellent investment destination for the long term. “India is going through profound change in its economy,” Chandra said Thursday in a phone interview from Mumbai. “It's deregulating and embracing capitalism. This deregulation is fuelling a lot of prosperity. It's fuelling jobs.” “India is still a society that's very capital starved,” Chandra said. With a population of 1.1 billion, India has a booming economy. Its GDP grew a whopping 9.2% in 2006 and is projected to grow at about 9% this year. “On the back of buoyant equity markets and fresh equity issuance, foreign institutional investment at nearly $9 billion so far in 2007 has (already) exceeded total inflows in 2006,” Eurasia Group analyst Seema Desai said in a research note Thursday. […]
Kotak Realty Fund on Wednesday said it had raised Rs 1,600 crore from domestic investors to invest in diverse real estate asset classes across the country over a period of three years.
Stating that the average investment would be in the range of $20-25 million, KRF's CEO S Sriniwasan told reporters here that the average holding would be of 3-5 years.
“We will invest both at a project level as well as in the […]
GVFL Ltd, India’s pioneer venture capital company today on the completion of its 17 years of successful seed and early stage investing shared its growth plans till 2010. GVFL plans to enhance its existing fund portfolio by setting up Rs. 250 crore SME Technology Venture Fund, which would invest in both early and growth stage companies. “From this SME Fund GVFL will not only explore new investment opportunities but also provide additional investments to its existing investee companies who have good growth potential.” Said Mr. Vishnu Varshney, CEO of GVFL Ltd. GVFL is also looking at setting up a Tourism Fund in the near future and had started the initial planning process for the same. This fund with will be set up in association with the Government of Gujarat. […]
Helion Venture Partners, backed by Silicon Valley venture capital investor Sutter Hill Ventures, is emerging the fastest deal-maker this round of early-stage VC investing in India. The $140 million fund closed it tenth deal within eleven months of launch on 17 July with a $10 million infusion (with Nexus India Capital) in New Jersey-based Kirusa Inc. Next week the fund is slated to announce another mid-sized investment in an undisclosed knowledge process outsourcing company. With these two new deals, Helion would have deployed close to half of its corpus. “It is safe to say we will not run out of money anytime soon,” says Ashish Gupta, managing director, Helion Venture Partners. So far, half of the fund’s investments comprise early stage companies and half, mid-sized companies. Deal sizes have varied between $ 1 million and $ 6 million. Recent deals include Bangalore-based equity research firm Amba Research and Noida-based publishing outsourcing firm Mindworks Global. […]
With $35 billion in investment capital, DE Shaw and Co., the world’s fourth-largest hedge fund, has set its eye firmly on India. This September, DE Shaw will open its second office in India, just 14 months after it started off in Gurgaon, outside New Delhi. Having already done $561 million in announced private equity deals, DE Shaw will have invested well over $1 billion in India by June. Not surprisingly, the firm, which is famous on Wall Street for being very reclusive about its trading methods, is unwilling to give out much detail about its gameplan for India. However, three clear patterns emerge from the four deals that the fund has disclosed so far. First, while it is largely sector-agnostic, it will likely broadly focus on companies that exploit India’s cost arbitrage advantage (think auto ancillaries, animation); opportunities that arise from deregulation (think media companies) and public-private partnerships (think infrastructure and real estate businesses). Second, deals will also be size-agnostic, from as little as $8 million up to $400 million or more. […]
Standard Chartered and IL&FS Investment Managers are close to signing an agreement to raise a $1 billion India-focused infrastructure private equity fund, the Business Standard said on Tuesday. The two companies are expected to finalise a joint venture to manage the fund, which will be announced by the end of the month, the newspaper said, in an unsourced report. A spokesman for IL&FS declined to comment. A spokesman for Standard Chartered did not immediately return a call. […]
Red Fort Capital, a Cayman Islands-based private equity fund, is planning to raise $875 million (Rs 3,500 crore) fund to invest in Indian properties. The fund has committed $100 million in projects of the Bangalore-based Prestige Group. “We have invested in land, residential and commercial projects in Bangalore, Chennai, Hyderabad, and Kochi. We are also planning to invest in Goa, Mumbai, and the NCR (national capital region) in future,'' said Subhash Bedi, partner, Red Fort Capital. Bedi said the realty sector in the country presented a good investment opportunity. “Despite the Reserve Bank of India's (RBI) curbs on lending to the real estate, it remains a lucrative investment,” he said. […]
Nexus India Capital has closed a $100-million venture capital fund to invest in opportunities across sectors in India. Nexus plans to invest in both technology start-ups as well as companies with business models not driven by technology. The funds investors include top tier institutions and strategic family offices from North America, Europe and Asia. The fund and its portfolio companies will be advised by successful entrepreneurs and investors in the technology, media, outsourced services, retail and consumer sectors. […]
Baer Capital Partners, the newest private-equity firm to enter the country, has just sprung out of the starting blocks but plans to invest $1 billion in Indian firms in the next one year. “Our target is to invest one billion dollars in India by 2008. Baer has three deals in the pipeline,” says Alok Sama, founder and president of Baer Capital Partners. While the buzz is that the private-equity firm has already struck a deal, picking up a stake in Saffron Art, Sama declined to comment. “It’s still early days,” said Sama who’s not fazed by the incumbent private-equity players. […]
Private equity (PE) investor Baring Private Equity Partners India Ltd (BPEP India) is raising its third India-dedicated fund with an expected corpus at $400-500 million (Rs1,616-2,020 crore). The proposed fund will be launched early next year and will be more than twice the size of the PE firm’s current fund, the $177 million Baring India Private Equity Fund II. The expanded corpus for India follows BPEP’s spectacular $255 million exit from MphasisBFL Ltd, which was acquired by US-based EDS for $380 million last year—the PE firm had invested $16.6 million in 1998 and held a 35% stake in the company at the time of exit. […]
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