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NEA-IndoUS Ventures, the India-focused VC fund promoted by Vinod Dham, the father of the Pentium chip, Vani Kola, Silicon Valley entrepreneur & Kumar Shiralagi, the former head of Intel Capital in India, has just closed with $189.4 million in the kitty. “We had a target of $150 million and a cap of $200 million for the fund,” Vinod Dham, founder and executive MD, NEA-IndoUS Ventures, told ET from Silicon Valley. The fund for which co-founder and MD Vani Kola moved to Bangalore from Silicon Valley last year, has been set up in partnership with one of the world’s biggest PE & VC firms — the Menlo Park-based New Enterprise Associates (NEA) that has a committed capital of over $8.5 billion across 13 funds. […]
Financial services boutique firm Atherstone Group will float a $75 million (Rs307.5 crore) fund raised from European investors to make early-stage investments of $1-4 million apiece in Indian companies. “This fund is being raised by us from European investors, leveraging the networks of our partners in Switzerland, Poland and the United Kingdom,” said Gurunath Mudlapur, a co-promoter of the Atherstone Group. The fund will concentrate on making investments in small- and medium-sized enterprises (SMEs), which require funding to take their business to the next level. The firm hopes to make multi-bagger returns by focusing on a market segment that has significantly less competition than bigger deals running into tens or hundreds of million dollars. Currently, firms such as Swiss BTS Investment Advisors and Clearstone Venture Partners focus on these kind of early-stage investments in India. […]
The country’s two largest home-bred private equity (PE) firms, ICICI Venture Funds Management Co. (ICICI Venture) and IL&FS Investment Managers Ltd (IIML), are in the middle of a major reinvention exercise. While ICICI Venture, which manages over $2 billion in capital at present, is preparing to become a limited partner (an investor in other private equity funds), IIML, with about $1.5 billion under management, is looking overseas, especially the West Asian region, to expand its investment activities. The independent moves by the firms come at a time when the Indian private equity market is seeing an unprecedented inflow from big-ticket global PE firms. […]
IL&FS Investment Managers Limited (IIML), the publicly listed private equity arm of IL&FS, is set to close its $400 million fund by October 2007. It will have its first closure of $150 million by July-end and the remaining would be wrapped up by October. This is IIML’s sixth fund and will be its largest fund after the $525 million real estate fund launched in 2006. With this $400 million fund, IIML is more than doubling its fund size from the earlier $153 million Leverage India Fund. […]
Shekhar Kapur, the director of Oscar-nominated film Elizabeth, is in talks to raise a $500 million fund in Singapore to invest in the entertainment industry, including movies and music across Asia, according to Bloomberg. In an interview given to Bloomberg, Kapur said that the Investors in Singapore were more willing to bet on businesses that might take a longer period of time to make a profit, unlike hedge funds or private equity firms. […]
India Hospitality Corp (IHC) is buying Mumbai’s Mars Restaurants from Malaysian private equity fund Navis Capital Partners. It also has the option to buy restaurant chain Nirula’s from Navis by the year-end. IHC is a special purpose acquisition corporation (SPAC) promoted by two US-based entrepreneurs, hospitality sector investment and research analyst Jason Ader and entrepreneur-designer Andrew Sasoon, to acquire Indian businesses or assets in the hospitality and related industries. […]
GMR Group, the Rs 3,000 crore infrastructure major with focus on power, roads and airport projects across the country, is mulling over investing in infrastructure private equity (PE) funds. This move, when it happens, will mirror the trend in the mature technology venture capital (VC) industry where companies such as Intel, SAP and Siemens manage their own or invest in various technology VC funds. According to a senior official of the GMR Group, the company has got proposals from several PE funds to invest in them. […]
LIC Housing Finance Ltd, one of India’s leading housing finance companies that is currently testing the venture fund waters by partnering with a couple of venture funds, is evaluating plans to float its own venture fund focusing on the realty sector. LIC Housing has already invested Rs50 crore in Kotak Realty Fund and Rs10 crore in CIG Realty Fund. The proposed new fund would focus on financing projects such as shopping malls and special economic zones. […]
Citigroup is keen on selling 80 percent of its business process outsourcing (BPO) arm in India for $700-$750 million, the Mint said on Tuesday, on the heels of Blackstone's acquisition of a back-office firm. Citigroup is in “advanced negotiations” with leading private equity firms for an all-cash deal for Citigroup Global Services, the newspaper said, citing investment bankers close to the deal. […]
Evolvence India Holdings Plc ('EIH' or 'the Company'), an Isle of Man, private equity fund of funds holding company that focuses on India, today announced its unaudited net asset value as of March 31, 2007, being its first update since admitting to AIM on 23 March 2007. EIH is promoted by Evolvence Capital Ltd ('Evolvence Capital'), a Dubai based alternative investments company with assets under management of approximately US$ one billion. […]
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