Private equity / VC
NDA, AZB on Warburg sale to GIC in Capital First
“Private equity firm Warburg Pincus LLC part-exited Capital First Ltd by selling a 25% stake in the non-banking financial company (NBFC) through open market transactions on Wednesday, according to a stock exchange filing. Cloverdell Investment Ltd, an affiliate of Warburg Pincus, sold the stake to marquee global and domestic investors, including Singapore’s sovereign wealth fund GIC,” reported Mint.
TTA, Trilegal on $100m Voltas Arcelik JV
“Domestic air-conditioning major Voltas today said it has formed an equal joint venture with Turkish company Ardutch BV to introduce the Beko brand of home appliances in the Indian market. The joint venture will have an equity capital of USD 100 million and will set up a manufacturing plant in the country, it said in a statement,” reported DNA.
NDA, SAM, Trilegal on $1.4bn SoftBank funding in Paytm
“Paytm has raised $1.4 billion from SoftBank Group Corp. in the largest funding round by a single investor in India, making the digital payments firm the Japanese company’s biggest bet in India’s start-up ecosystem. The deal includes $400 million worth of shares that SoftBank will buy largely from Paytm’s early investor SAIF Partners in a secondary transaction, and a minor stake from founder Vijay Shekhar Sharma, according to two persons close to the development,” reported Mint.
Khaitan Delhi, Samvad on $30m Fosun funding in Delhivery
“E-commerce logistics services provider Delhivery has raised $30 million from Chinese conglomerate Fosun International. This additional investment is a part of the $100 Mn funding the company raised in March from The Carlyle Group, as indicated by ETTech. The company currently services 800 cities, 9000 pin codes with a network of 12 fulfilment centres. Delhivery claims it fulfils 10 million shipments a month,” reported Medianama.
S&R, CAM on biggest logistics PE as CPPIB, IndoSpace form $1.3bn Indo-Canadian JV
“In the largest private equity deal in the logistics space, the Canadian pension fund manager Canada Pension Plan Investment Board (CPPIB) and IndoSpace, promoted by PE firm Everstone and US-based Realterm, have entered into a three-step deal which would entail an investment of $1.3 billion (Rs 8,320 crore), most of which will come from the CPPIB,” reported Business Standard
Samvad, Indus on $70m Sands Capital round in BlackBuck
“BlackBuck, the B2B intercity logistics startup, has raised Series C funding of $70 million in a round led by Sands Capital. Among existing investors, Accel and Flipkart participated in this round, while Tiger Global and Apoletto did not.
Argus, JSA on Rs 400 crore Multiples investment in PeopleStrong
“Private equity firm Multiples has acquired a majority stake in HR technology and solutions provider PeopleStrong with an investment of around Rs 400 crore. Multiples, has made a “controlling investment” in PeopleStrong through a combination of primary and secondary investments, and sources close to the development said the deal value is around Rs 400 crore,” reported PTI.
Trilegal, double-SAM, Khaitan on $75m fundraising by InCred
“Mumbai-based non-banking financial company (NBFC) InCred Finance, founded by former Deutsche Bank senior executive Bhupinder Singh, has secured $75 million in a funding round led by Deutsche Bank’s former co-CEO Anshu Jain. The latest investment is one of the largest fintech deals in India this year. The startup focusses on providing SME loans, home loans and education loans,” reported In Shorts.
Samvad, Luthra, Clifford C, Gunderson act on $100m Carlyle, Tiger investment into Delhivery
Samvad Partners acted for Delhivery Private Limited on its Rs 650 crore ($100m) investment by private equity giant Carlyle Group along with Tiger Global.
Trilegal, K Law act on $3.65m Series A in logistics marketplace Blowhorn from IDG, the Dells
“Bangalore-based Catbus Infolabs Pvt. Ltd, which operates intra-city logistics startup Blowhorn, has raised Rs 25 crore ($3.65 million) in Series A funding from IDG Ventures India, Michael & Susan Dell Foundation, and existing investors Draper Associates and Unitus Seed Fund, it said in a statement,” reported Techcircle. “Blowhorn, whose tech-enabled platform connects customers with mini truck owners for intra-city, sub 2-tonne deliveries, will use the funds to expand operations to eight cities over the next two years.”
Verist, K Law, JSA help thermal energy storage start-up raise funding from Infuse, Ankur
Thermal Energy Solutions Pvt Ltd (TESSOL), a company engaged in providing next-generation clean technology cold chain solutions, has raised an undisclosed amount from Infuse Ventures and Ankur Capital. TESSOL, founded by Mr. Rajat Gupta, had raised seed investment from Infuse Ventures in 2014.
Indus, Luthra on $103m Altico Capital infusion in Vatika
“Gurgaon-based developer Vatika Group on Friday secured Rs 700 crore funding from Altico Capital and has closed the first tranche of Rs 475 crore,” reported Mint.
Clove Legal, Singhania on EcoCentric Management infusion
“EcoCentric Management Pvt Ltd (ECMPL), a Mumbai-based e-waste management firm, has raised its first round of growth capital from a couple of high net worth individuals (HNIs). The funding will be utilized to increase capacity and expand its reach pan-India,” reported Enablers Investment.
Trilegal, JSA on $125m IFC funding in Hero Future Energies
“International Finance Corp (IFC), the private sector investment arm of World Bank, on Thursday said it has invested $125m in Hero Future Energies, the renewable energy arm of the Hero Group, for an undisclosed equity stake.
Vertices, JSA, P&C on $6.7m Osam funding by Lok Capital, Aavishkaar
“HR Food Processing, which manufactures and markets dairy products under the brand name Osam, has raised Rs 45 crore (around $6.7m) in its Series B round of funding, it said in a statement. The round was led by Lok Capital-advised Growth Catalyst Partners. HR Food’s existing investor Aavishkaar also participated in this round,” reported VC Circle.
Trilegal, K Law, SAM on $4m funding in IndiaLends
“American Express Ventures, the corporate venture investment arm of American Express Co, has led a $4m (Rs 26.6 crore) funding round in fintech startup IndiaLends, its second transaction in the country in as many months,” reported the Economic Times.
Link Legal, Nishith Desai assist ex-Flipkarters’ start-up Udaan raise $10m from Lightspeed
Silicon Valley-based venture capital firm Lightspeed Venture Partners has invested $10m in Hiveloop Technology, which provides a B2B e-commerce marketplace platform under the brand ‘Udaan’. The company is founded by three former top executives of Flipkart, namely Sujeet Kumar, who led WS Retail at Flipkart, Amod Malviya, ex-CTO of Flipkart, and Vaibhav Gupta, former Senior VP who was leading product management and finance functions at Flipkart.
Bharuchas for Anil Ambani $12m PE investment in Trilegal’s Square Yards
“Square Yards Consulting Pvt. Ltd, a real estate listings and advisory firm, has raised $12 million from the private equity arm of Anil Ambani-led Reliance Group,” reported Mint.
Kolkata (Khaitan, SAM) profit from $15m PE investment by Motilal Oswal in Ganesh Grains
“Motilal Oswal Private Equity (MOPE) managed India Business Excellence Fund – II and India Business Excellence Fund – IIA have agreed to invest Rs 100 crore to buy a minority stake in Kolkata based Ganesh Grains. The Kolkata based unlisted firm is engaged in the business of manufacturing and selling of branded food staple,” reported the Economic Times.
NDA, O'Melveny, Gibson Dunn on $50m Emerald Media buy in YuppTV
“Emerald Media, a Pan-Asian platform established by leading global investment firm KKR for investing in the media and entertainment sector, acquired a significant minority stake in YuppTV for $50m. YuppTV is one of the world’s leading over-the-top (OTT) video platforms for South Asian content offering live TV, catch-up TV and movies on-demand in 14 languages across the globe,” reported Business Wire.