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Private equity(PE) firms are going beyond large corporates and super specialty hospitals to tap the Indian healthcare market. While ICICI Venture and Asian Health Alliance (AHA) are investing in a series of standalone regional hospitals, other PE firms are funding secondary hospitals in small towns. ICICI has floated I-Ven Medicare, a $250 million fund to invest in healthcare sector. The company has already invested in a series of stand-alone and niche secondary hospitals. These include $36 million in Sahyadri Hospital (Pune) and $24 million in Vikram Hospital (Mysore) besides $16.25 million in Medica Synergy (Kolkata) and $10.25 million in Delhi-based urology chain, RG Stone. […]
At a time the global economy is slowing and investors are shying away from equity markets, the Indian infrastructure sector contines to attract global equity funds. India-specific infrastructure funds worth over Rs 30,000 crore are in various stages of being raised. Important among them include a Rs 12,000-crore fund from ICICI ventures, a Rs 8,000-crore fund from Macquarie Capital Group, the SBI and International Finance Corporation (IFC), and a Rs 4,000-crore fund from Kotak Investment Advisors Ltd. In this calender year, India-focussed infrastructure funds of around Rs 10,000 crore have been raised to date. These include an over Rs 4,900-crore fund from 3i capital, Rs 2,000 crore offerings by Citigroup and Rs 800 crore raised by AXIS PE. […]
Venture capital firm Draper Fisher Jurvetson, or DFJ, has invested an undisclosed amount in online education company Catura Systems Inc., its first solo investment since it set up an office in India in September. DFJ associate Prasanna Krishnan and India executive director Mohanjit Jolly have joined the board of Catura, an Indo-US cross-border firm, based both in Santa Clara, California, and Gurgaon, on New Delhi’s outskirts. DFJ India has been investing aggressively, closing 11 deals in as many months and exhausting more than half the $100 million (about Rs428 crore) India allocation—out of a global $650 million fund—that it intended to invest over three years. This includes three undisclosed deals in online publishing, e-waste management and semiconductor services. Of its disclosed investments, the firm has co-invested with other venture firms in all its deals except Catura. […]
SeedFund, an Indian VC firm backed with Google’s cash, announced a $1 million investment in Lifeblob, a Bangalore-based lifecasting company whose awkward name just about says it all. Lifeblob is a kind of digital diary that maps the media you share and thoughts you write onto a timeline. You can adjust the scale of this timeline to reflect the history of your online life in increments ranging from every day to a somewhat ambitious 100 years. Each entry appears as a “blob” that you can click on to expand. Lifeblob joins an increasing number of start-ups doing variations on this theme. These include Dandelife, Dipity, AllofMe and, in some ways, Plurk. Of the batch, Dipity and AllofMe are the most similar.The company, which has been in beta for months, opened up to the public today. […]
Hyderabad-based Indu Projects has raised $113 million (about Rs 476 crore) from Credit Suisse, the Swiss investment bank. Indu will receive about $77 million (Rs 325 crore) in the first tranche of the funding and the balance would flow in the next 90 days. Indu Projects is a growing infrastructure company with interests in real estate, housing and market infrastructure. “The fund will be used for both our existing and future requirements. Credit Suisse has seen the potential in this market and the business plan we have,” Indu chairman and managing director Syam Prasad Reddy told DNA Money on Thursday.Credit Suisse will get a 10% stake, while the rest 20% of it is shared by Citigroup Venture Capital, Maple Holdings, IDFC, Sun Apollo and Red Fort Capital. […]
Healthcare services provider Kerela Institute of Medical Sciences is looking to acquire two hospitals in South India and has earmarked a budget of Rs 300 crore for the purpose. The company is primarily interested in acquiring hospital with a capacity of 100-150 beds in Bangalore and surrounding areas in South India. The company is presently in talks with two leading private equity funds to raise corpus for the expansions. Out of these two players, one is Singapore based healthcare focused PE player and other one domestic one who has made sizeable investments in healthcare segment. Besides this, KIMS also plans to get itself listed in Bombay Stock Exchange also in the next three years. […]
Communications and Manufacturing Association of India (CMAI), an industry body of ICT manufacturers, said on Wednesday that it has arranged a venture fund of $100 million for the promotion of eco-friendly research and manufacturing projects in the country. This fund has been arranged with the help of the association members and will be provided to the companies who are into research and manufacturing of telecom and ICT products in an environment-friendly manner, CMAI President N K Goyal said. “We will be channelising this fund for companies in ICT research and manufacturing and who are environment conscious,” he said. […]
Fortis Healthworld has acquired CRS Health, a Delhi-based pharma and wellness retail chain. It is also planning to rebrand itself and the pharma chains it acquires in future as Religare Wellness. CRS is the drug retailing arm of the diversified Delhi-based SAK Industries. Though the size of the deal is not big, it is Malvinder Singh and Shivinder Singh’s first acquisition since they sold their pharma company Ranbaxy to Daiichi Sankyo. Fortis will pay around Rs 15 crore to acquire 90% stake in CRS Health. Ravi Rajan & Company was the advisor to the deal. […]
Hinduja group company HTMT Global Solutions has set aside $110 million (Rs 440 crore) for acquiring companies abroad. “We have set aside a cash of $110 million for acquisition. We are looking at acquisitions in the US and Europe. Especially in Europe where we have limited presence,” HTMT Global Solutions CFO Anand Vora said. In 2006, HTMT had acquired a US-based BPO firm, Affina, for $30 million. At present, the company offers BPO services in healthcare, BFSI and telecom sectors in the US. […]
Baring Asia is investing $100 million to pick up 40 per cent stake in RSP Architects & Planners India, thereby marking big buck private equity’s foray into architectural consultancy space, sources said. The Hong Kong fund’s investment values the decade-old Bangalore-headquartered architect at $250 million, or Rs 1,000 crore. RSP India has about 360 employees on board, and is seen as a leading design and engineering architect for the sprawling IT campuses and parks. The firm’s portfolio of works include Microsoft campus in Hyderabad and the International Technology Park at Bangalore, while most of the country’s top real estate players figure in its client list. […]
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