A couple of years ago, Google gave sleepless nights to venture capitalists by picking up technology startups even before VCs spotted them. Now the search engine giant is looking at entering the VC turf directly. Wall Street Journal on Wednesday reported (sub. required) that Google is contemplating a venture capital arm.
The report added that David [...]
Nokia, the world’s largest handset-maker, has pumped $150 million into its private equity arm, Nokia Growth Partners. Most importantly for India, the private equity fund is establishing “direct operations” in the country, besides China.
Nokia Growth Partners, launched in 2004, is focused on investing in companies involved in mobile technology, services and media. Target investments also [...]
Vishal Gondal, Founder and CEO of Indiagames Ltd, is becoming a saviour for startups. Gondal, who sold a large chunk of his holdings in the online gaming company Indiagames first to Chinese gaming giant Tom Online and later to UTV Software Communications, has launched a new venture called Sweat And Blood Venture Group. This entity [...]
Gujarat-based Sintex Industries Ltd, which has interests in plastics and textiles business, has acquired a 90 per cent stake in German company Geiger Technik GmBH for $50 million. The acquisition has been done through its wholly owned Netherlands-based subsidiary Sintex Holding B.V. and Geiger Technik has been given an enterprise value of $55.5 million. The [...]
The stock market is down and the latest monetary tightening moves by RBI have made debt even more costlier. High inflation had led to tight monetary and credit policy stance by the central bank over the last six months but the latest quarter review from RBI has made things even worse with the corporate sector [...]
Internet job portal Timesjobs.com has acquired Gurgaon-based CyberMedia Careers, which is a part of the media house CyberMedia. TimesJobs has acquired the resume database and also the URL, which is now redirected to Timesjobs.com now. The latter has been on the block for a while after the portal failed to take off in technology recruting. [...]
The government is looking to dilute a large part of its equity stake in the third largest private bank in the country - Axis Bank. Currently, the Specified Undertaking of UTI (SUUTI) holds 27 per cent in Axis Bank (formerly UTI Bank). The Economic Times reported that the government is looking to sell around 21 [...]
Leading Silicon Valley venture capital firm Draper Fisher Jurvetson (DFJ) is shedding its pure early stage venture focus in India to be a stage and sector agnostic player. Globally, DFJ, which has backed companies like Skype and Baidu, has been making early stage technology investments. In India, it will follow a slightly different approach, following [...]
New York-based private equity fund Genesis Asset Managers has acquired over 5 per cent stake in second largest pipe company in the world Welspun Gujarat Stahl Rohren (WGRSL) for around $75-80 million. Mumbai-based WGRSL is the flagship company of $3 billion Welspun Group. The deal values the company at $1.5 billion-$1.6 billion, which is close [...]
Firodias have finally settled for a JV rather than a sell-off. The Pune-based promoters of two-wheeler group Kinetic which has been struggling over the last few years has formed a joint venture with Mahindras. As per the deal, Mahindras will form a new company called Mahindra Kinetic in which M&M, the flagship group utility vehicle [...]
Red Fort Capital, an India focused private equity firm which invests in real estate sector, has acquired a 49 per cent stake in one of the IT park projects of Godrej Properties for an undisclosed sum. The IT park located in Kolkata named ‘Godrej Genesis’ is projected to generate sales of over Rs 750 crore. [...]
The listed financial services arm of the Future Group, Future Capital Holdings Ltd, has recorded a five-fold growth in its income to Rs 19.34 crore for the quarter ended 30 June 2008 from Rs 3.32 crore during the same period last year. In Q1 results announced today, FCH has said that the company has reduced [...]
Media and entertainment company UTV Software Communications Ltd. is betting big on gaming. It plans to invest a total of $75 million into the gaming business. While informing the Bombay Stock Exchange, UTV said that it will acquire a 51 per cent stake in a US-based top tier mobile content aggregator through it’s subsidiary, Indiagames Ltd. UTV also plans to invest in a US-based [...]
Ajay Relan, who recently quit as the managing director and India head of Citi Venture Capital International (CVCI), is raising a $500-$750 million India-focused fund. The fund will be mainly raised from overseas investors such as insurance companies, sovereign funds, endowments and pension funds, Relan said in an interview to Mint. He is also joined [...]
Scrabulous, a Facebook application created by two Kolkata brothers, has been pulled off from the US and Canadian Facebook pages. Scrabulous - an application that allows users to play the game Scrabble online - is facing legal action for intellectual property infringement by gaming company Hasbro which owns the rights for the game.
Scrabulous was started [...]
