VC Circle has migrated to Wordpress platform. We had been using Blogware of Tucows till now, but it has been very limiting in terms of functionality. Besides, Blogware has been experiencing several bugs making it impossible to continue with that service.
We, therefore, decided to move to Wordpress. We are also working on a new design, [...]
Real estate fund Yatra Capital has invested €6.75 million ($9.18 million) in its 50-50 joint venture with Modi Build-Well Ltd in Gujarat. The joint venture will develop a 590,000 sq ft shopping mall in the city of Bhavnagar. This is Yatra’s fifth investment in Indian real estate, and it has so far invested €79.32 [...]
Here is another Indian close to the glass ceiling at a multinational bank. Credit Suisse Group has appointed Kai Nargolwala, 57, as the firm’s Chief Executive Officer of the Asia-Pacific region, and a member of the Executive Board. He will be based in Hong Kong and will assume his new responsibilities on January 1, 2008, [...]
Sarovar Hotels, a mid-market hotel group backed by Bessemer Venture Partners and New Vernon Private Equity, is looking at an IPO or a second round of private equity funding. The company plans to raise about Rs 250-300 crore ($62.5-75 million), according to DNA (Via Sify). Sarovar is setting up 23 new properties at an investment [...]
Even though a Nuke treaty with the US is still hanging in fire, probably this may be a good time to look at companies that supply components and products to the defence sector. The Economic Times today reports that buyout fund Blackstone may close in on such a Hyderabad based company to buy stake. The [...]
IDFC PE funded Sical Logistics has roped in another fund to finance its asset heavy, capital intensive businesses. Sical Infra Assets, a new arm of the Chennai-based logistics company, has received $26 million funding from Old Lane Mauritius IV Ltd, an investment vehicle of Old Lane Opportunities Funds. The company has sold 26 per cent [...]
Exclusive: Societe Generale is getting into Indian investment advisory and portfolio management services business. The French bank is going solo instead of acquiring an existing Indian company. The bank has got approval from the Indian government to invest Rs 205.8 crore in India for developing the PMS and advisory services business in the country.
SocGen’s France-based [...]
New Vernon Private Equity has picked up 5 per cent stake in Delhi Stock Exchange for Rs 10.61 crore ($2.5 million). It’s a tiny deal compared to General Atlantic and SAIF Partner’s investment of $115 million each in National Stock Exchange. Delhi Stock Exchange is valued at Rs 212 crore ($52 million), while National Stock [...]
ICICI Venture-backed retail chain Subhiksha is expected to come up with an IPO anytime after Diwali, the Indian festival of lights. R Subramanian, managing director of Subhiksha Trading Services Ltd, told CNBC India in an interview that his company will go in for an IPO only if they hit 1,000 stores. “Since we are expected [...]
Public sector Canara Bank is looking for a strategic partner for its venture capital business. The bank may sell a stake in its venture capital subsidiary, Canbank Venture Capital Fund, reports Business Standard. The fund, the first to be set up by a PSU bank in 1989, has a corpus of Rs 112 crore ($27 [...]
We were tipped of this earlier by a reader. ICICI Venture’s real estate investment head Kishore Gotety has quit the fund. He is joining RREEF, Deutsche Bank’s property fund management company, as its country head in India. RREEF is jointly owned by Deutsche Bank and DB RREEF Trust, and globally manages over $73 billion worth [...]
It’s most likely to be a secondary private equity transaction at Infomedia India, the business directory yellow pages company majority owned by ICICI Venture. The Mumbai private equity fund is in the process of selling its stake, and the suitors, according to The Economic Times, include private equity funds General Atlantic, Blackstone and Warburg Pincus. [...]
Private equity fund General Atlantic will be opportunistic as far as Patni Computer stake is concerned. The Economic Times quotes Abhay Havaldar, Managing Director of GA in Mumbai as saying: “We have been in Patni for five years. We are both buyers and sellers of Patni, depending on the price.”
Havaldar also told Business Standard in [...]
Private equity fund General Atlantic (GA) has made a high profile hire in India. Ranjit V. Pandit (right), former chairman of McKinsey & Company India, will join as a managing director in the firm’s Mumbai office. Pandit is joining Abhay Havaldar who is also managing director of GA in Mumbai.
GA has invested nearly $1 billion [...]
US-based Berggruen Holdings has dedicated $300 million for investing in India. The company manages the personal assets of hedge fund billionaire Nicholas Berggruen which exceeds a cool $1 billion, and that is Berggruen’s family money alone. There are no limited partners in this fund, founded in 1984.
Berggruen has already made four investments in India (worth [...]
