Articles from VCCircle

1. Perfios Raises $2M From Angel Investors

   Explore Article VCCircle (13 hours, 36 min ago)

   Perfios Software Solutions Private Limited, a Bangalore-based personal finance software solutions provider, has raised $2 million from four angel investors.   Perfios has raised the funding from P.S. Pai, former Vice-Chairman of Wipro Group and later Executive Chairman of the Murugappa Group; V. Chandrasekaran, former president of Wipro Systems, managing director of iGate and CEO of Aztecsoft; Ashish Gupta, co-founder and managing partner of Helion Venture Partners and A.G Muralikrishnan, founder and CEO of Ujwal Management Services.   This is the second round of funding for the company which had earlier raised money from angel investors last year. Both Ashish ... (Read Full Article)
   

   Comment on Article Mentions:   Ashish Gupta   Murugappa Group   Helion Venture Partners

2. VCCircle Runway: Calling Startups In Bengaluru

   Explore Article VCCircle (16 hours, 20 min ago)

   To raise a toast to Bengaluru's uninhibited entrepreneurial streak, VCCircle debuts its concept Runway, a platform for startups to showcase their fledgling business to potential investors and customers, in India's Silicon Valley. The new event-in-event format presented by VCCircle, Runway--akin to an airport runway or a fashion ramp runway--aims to put the spotlight on eligible startups and bring them a few steps closer to the next level, be it funding, new team, clients or simple business tips from a distinguished panel of venture capital experts. Styled as an easy take-off platform for mature startups, Runway will be part of all ... (Read Full Article)
   

   Comment on Article Mentions:   Clearstone Venture Advisors   Microsoft Research   Samir Kumar

3. Il&fs Focuses On Infrastructure Fund In China, India

   Explore Article VCCircle (19 hours, 3 min ago)

   IL&FS Investment Managers aims to complete investment of its $660 million infrastructure fund by the end of next year, focusing on fast-growing China and India, a senior executive said. IL&FS, India's oldest private equity firm, teamed up with Standard Chartered to raise the Asia Infrastructure Growth Fund that closed in December last year and has since invested about $250 million in China, India and Malaysia. "We hope to see a majority of the transactions done in India and China, very very little in Southeast Asia, because India and China are what we believe are markets that require a lot of ... (Read Full Article)
   

   Comment on Article Mentions:   DEN Networks   JP Morgan Asset Management

4. Sherpalo, Kleiner Sell Stake In Infoedge; Net 2x

   Explore Article VCCircle (Mar 16 2010) Acquisition

   ACE venture capitalist Ram Shriram’s Sherpalo Ventures and Kleiner, Perkins, Caufield & Byers — early investors in job search portal Naukri.com-- have sold almost their entire stake in Infoedge, the firm that operates the website. The two investors have sold a little less than 4% stake in the company for around Rs 86 crore, generating over 2x ‘net’ returns on their four-year-old investment. The investors had together invested around Rs 27 crore in April 2006 just prior to Infoedge IPO and held a little over 2% stake each post issue. Shriram owned the shares through Sherpalo Ventures while and Kleiner, ... (Read Full Article)
   

   Comment on Article Mentions:   Caufield & Byers   InfoEdge   Ram Shriram

5. Facebook To Open Office In Hyderabad

   Explore Article VCCircle (Mar 15 2010) Social Networking

   Popular social-networking site Facebook will open an office in India, joining a long list of international firms that have looked to tap a skilled workforce that provides support services at relatively cheap wages. Facebook's office in Hyderabad will support users, advertisers and developers in India and around the world, the company said in a statement on Monday. Hyderabad also houses other foreign firms, including Internet powerhouse Google and software giant Microsoft, whose Indian employees work on everything from writing software codes to providing customer services at cheaper salaries than in developed nations such as the United States. Facebook, which lets ... (Read Full Article)
   

   Comment on Article Mentions:   Don Faul   Microsoft   Google

6. MFI Funds Widen Focus To Cover New Social Sectors

   Explore Article VCCircle (Mar 15 2010)

   India's microfinance-focussed private equity fund managers are now diversifying their investment base into newer areas of social investing as they raise new vehicles. These funds are investing in areas from healthcare services to rural supply chains to even rural business process outsourcing plays. With microfinance coming to the portfolio of mainstream investors with the impending public offering of SKS Microfinance, the search for the next emerging game-changer for these fund managers has already begun. Fund managers like Aavishkaar Venture Management Services Pvt Ltd, Caspian Advisors Pvt Ltd, Elevar Equity Advisors Pvt Ltd and Lok Advisory Services Pvt Ltd have raised ... (Read Full Article)
   

   Comment on Article Mentions:   Sandstone Capital   Micro Housing Finance Corporation   Sandeep Farias

7. eYantra Raises $7.8M In Series B Funding From Argonaut

   Explore Article VCCircle (Mar 12 2010) Acquisition , Funding

   eYantra Industries Ltd, a Hyderabad-based brand merchandising and corporate gifting solutions company, has raised $7.8 million in series B funding. The round is led by Argonaut Private Equity, a US-based private equity fund, reports the Business Standard. The company earlier raised $3.1 million funding from Ventureeast Proactive and Argonaut in series A round in 2008. It plans to utilise a substantial part of the fund in acquiring firms to expand its presence in corporate merchandising sector, the report added. eYantra further plans to diversify its business into online product customisation and basic office supply space in near future. eYantra is ... (Read Full Article)
   

   Comment on Article Mentions:   Argonaut Private Equity   Times Private Treaties   Argonaut

8. News Roundup: Jay Shree Closes In On Rs 120 Cr Buy

   Explore Article VCCircle (Mar 10 2010) Acquisition

   Jay Shree Closes In On Rs 120 Cr Buy - Jay Shree Tea & Industries, a BK Birla Group company, is close to acquiring a company in the agro-commodity space for roughly Rs 120 crore. The domestic acquisition is expected to be completed within a week and Jay Shree is in advanced talks with the owner’s of the target company. (Economic Times) Mahindra Eyes Sonalika's Car and Tractor Biz - Mahindra & Mahindra (M&M) is eyeing the car and tractor businesses of the Rs 5,000 crore Sonalika group to strengthen its position in the tractor segment. Sonalika has a technology ... (Read Full Article)
   

   Comment on Article Mentions:   Sandstone Capital   Corporation Bank   Bptp

9. Sequoia Hikes Stake To 9.7% In KPO eClerx

   Explore Article VCCircle (Mar 9 2010) Outsourcing , Acquisition

   Sequoia Capital is increasing its stake in knowledge process outsourcing firm eClerx Services Ltd. The venture and growth capital investor has picked up an additional 2.9% stake in the BSE-listed eClerx through an open market transaction for Rs 29.7 crore ($6.53 million). With this deal, Sequoia now holds 9.7% in the firm, making it the largest institutional shareholder. The stake has been bought by Nambe Investment Holdings, a foreign institutional investor (FII) sub account of Sequoia Capital India Operations LLC. eClerx was one of the first Indian KPOs to go for an IPO and was listed in 2007. The company ... (Read Full Article)
   

   Comment on Article Mentions:   VCCircle   Nagarjuna Construction   Madhav A. Chanchani

10. News Roundup: Daimler To Sell Tata Motors Stake

    Explore Article VCCircle (Mar 8 2010)

    Daimler To Sell Tata Motors Stake - DaimlerChrysler AG is selling its 5.34% stake in Tata Motors through an open-market sale which could fetch $428 million to the German carmaker. The 2.55 crore shares are expected to offer in a price-band of Rs 737.40-761.30. Citigroup is the investment banker handling the sale. (DNA) Sequoia To Buy 9.4% in CARE - Private equity firm Sequoia Capital may pick up 9.4% stake in rating agency Credit Analysis and Research Ltd for Rs 73.5 crore. CARE is controlled by IDBI Bank, SBI and Canara Bank and presently has no foreign shareholding. IDBI bank, ... (Read Full Article)
    

    Comment on Article Mentions:   Economic Times   Kaku Nakhate   Kevan Watts

11. Janalakshmi Financial Gets $10 Mn From Treeline Asia

    Explore Article VCCircle (Mar 8 2010) Funding

    Janalakshmi Financial Services, a Bangalore based microfinance institution (MFI), has raised $10 million in its series B funding led by Treeline Asia Master Fund. The Hong Kong and Singapore-based hedge fund has invested in this round with Bellwether Microfinance Fund, an existing investor. The new round would also add another veteran banker to the board of former Citigroup professional Ramesh Ramanathan founded MFI, which focuses exclusively on urban areas. Narayan Ramachandran, the former country head of Morgan Stanley India, also invested in Janalakshmi in this round in his personal capacity and has joined its board. Lok Capital and the Michael ... (Read Full Article)
    

    Comment on Article Mentions:   Sandstone Capital   MFI   Narayan Ramachandran

12. Aavishkaar Goodwell Hits Road To Raise $100M Fund

    Explore Article VCCircle (Mar 5 2010) Acquisition

    Aavishkaar Goodwell is hitting the road with its new fund which is seeking $100 million in commitments. The second fund from Aavishkaar Goodwell, a joint venture between India's Aavishkaar and Dutch firm Goodwell, is much bigger in size compared to its first fund. The firm launched its first fund in 2006, which raised $18.3 million in May 2008. Vineet Rai, founder and the CEO of Aavishkaar, told VCCircle in an interview that the fund is planning to close by December this year. The fund will target limited partners (LPs - investors in private equity & venture capital funds) like development ... (Read Full Article)
    

    Comment on Article Mentions:   Madhav A. Chanchani   Aavishkaar Goodwell   World Bank

13. US Fashion House Kenneth Cole In Talks For Indian Partners

    Explore Article VCCircle (Mar 5 2010)

    Global fashion houses are back to chasing the India story while recouping from battered consumer sentiments in the developed world. NYSE-listed Kenneth Cole Productions Inc (KCP), an American designer firm in the apparel, footwear and accessories segments, is discussing potential partnerships in India's expanding market for lifestyle fashion. At least two sources familiar with the development said, KCP has been in talks with Reliance Brands and SKumars for opening standalone stores as well the department store-led distribution in the country. One of these sources said KCP's discussions with Reliance Brands was possibly more advanced. But, this could not be confirmed ... (Read Full Article)
    

    Comment on Article Mentions:   Old Navy   Satya Paul   UTI Ventures

14. July Systems Raises $7M In Intel Capital-Led Round

    Explore Article VCCircle (Mar 4 2010) Funding

    July Systems, a mobile media company, has raised $7 million Series C investment in a round led by Intel Capital. Existing investors in the firm, Sequoia Capital and Footprint Ventures too participated in the round. The company has also announced that it has turned cash flow positive and has achieved a 300% growth in revenue over the last year driven by the exponential growth in mobile internet consumption and a growing customer base. July Systems helps brands publish, distribute and monetise their mobile internet services. It powers several media, entertainment and sports brands and it counts ESPN Cricinfo, Univision and ... (Read Full Article)
    

    Comment on Article Mentions:   July Systems   Intel Capital India   Univision

15. Battery Ventures Raises $709M For 9th Fund

    Explore Article VCCircle (Mar 4 2010) Acquisition

    Comment "Send your good taste to celebration by delivering our mouthwatering cakes to Bharuch and exotic flowers to Bharuch and leave ..." - riyamanna

    Battery Ventures, a Boston-based venture capital firm, has raised $709 million for a new fund. It targets another $40 million for the fund, according to a report in Boston Business Journal. The new fund is Battery’s ninth since its launch in 1983, and has commitments from around 107 investors, the report added quoting its filing with the Securities and Exchange Commission. Battery has raised its last fund at $750 million corpus in 2007. It invests in early stage companies, and backs them till they get acquired or go public. Battery, which has made a few deals in India, however, shut ... (Read Full Article)
    

    5 Comments Mentions:   Travelocity   Securities and Exchange Commission   Sequoia Capital India

16. Acumen Fund Invests In Cleantech Firm Husk Power Systems

    Explore Article VCCircle (Mar 4 2010)

    Acumen Fund, a New York-based non-profit venture capital fund, is investing $375,000 (Rs 1.71 crore) in Husk Power Systems (HPS), a Patna-based company engaged in rural electrification and power generation. With this funding, Acumen’s total investment in India crosses over $18 million, said a company statement. It invests in businesses that have a social and economic impact. HPS is engaged in producing clean energy from rice husks using biomass gasification technology. It currently owns and operates mini power plants with a capacity to produce 100KW electricity. The company plans to utilize the fund in setting up around 50 plants providing ... (Read Full Article)
    

    Comment on Article Mentions:   Shell Foundation   Jacqueline Novogratz   HPS

17. V G Siddhartha Closing $75M First Round PE Deal In Coffee Day Holdings

    Explore Article VCCircle (Mar 3 2010) Acquisition

    Serial entrepreneur  V G Siddhartha is closing a $75-million private equity transaction in Coffee Day Holdings, the holding entity for most of his business operations spread across retail, financial services and infrastructure. Banking sources familiar with the development said, the initial amount may be raised up to $200 million with more investors buying into Coffee Day Holdings. While the initial round of capital infusion may be led by Standard Chartered Private Equity, others like Kohlberg Kravis Roberts & Co (KKR) might come to put the additional amount as Coffee Day Holdings looks to fuel the expansion of its diversified business interests. ... (Read Full Article)
    

    Comment on Article Mentions:   Monish Gopinath   VCCircle   KKR

18. Itochu Corporation Invests In Affle Holdings

    Explore Article VCCircle (Mar 2 2010) Acquisition , Funding

    Itochu Corporation, a trading company in Japan, is investing in Affle Holdings Pte Ltd, a Singapore-based mobile content and advertising distribution services company, with significant presence in India. This is the second investment in Affle after Microsoft picked up 20% stake in the company in 2009. Affle has significant presence in Indian market apart from operations in Singapore, Indonesia, Thailand and Malaysia, Itochu said in a statement. Without divulging the financial details, Itochu stated that it has acquired minority shareholding in Affle, which has raised its series B round. Affle has R&D and product development centre based out of Singapore. ... (Read Full Article)
    

    Comment on Article Mentions:   Itochu   Microsoft   Affle

19. Edserv Softsystems Acquires Chennai Firm SmartLearn WebTV

    Explore Article VCCircle (Mar 2 2010) Acquisition

    Edserv Softsystems Ltd, a listed education and placement company in Chennai, is acquiring SmartLearn WebTV, another Chennai-based firm offering e-learning solutions for IIT JEE and AIEEE aspirants for an undisclosed sum. This is the third acquisition of Edserv in the last six months, and second in the last one week, it said in a statement. SmartLearn has given Edserv access to over 10,000 students. Edserv plans to roll this scheme pan India and is targeting reaching 25,000 students each for IIT JEE and AIEEE in the next academic year.  Last week, Edserv acquired Hyderabad-based SchoolMate, which offers customer relationship management ... (Read Full Article)
    

    Comment on Article Mentions:   Edserv Softsystems Ltd

20. Challenges In Executing Buyouts In India

    Explore Article VCCircle (Mar 2 2010) Acquisition

    The Indian Private Equity industry has shown great promise and the India story continues to be an attractive investment proposition for PE funds. The Indian PE deal flow has however largely been minority growth capital stake as opposed to buyouts which have the largest share of PE deals in global markets. Traditional buyout houses such as 3i Private Equity, TPG, Warburg Pincus among others, have mostly invested for minority stakes providing growth capital. While India continues to be a play on minority stake holding, the market for large buyout transactions in the country is opening up with second generation entrepreneurs ... (Read Full Article)
    

    Comment on Article Mentions:   Bain Capital   Blackstone   Indian School of Business

21. Dont Wait For The Improved Economy; That Will Not Work

    Explore Article VCCircle (Mar 1 2010)

    Every day it seems someone tells me they "are looking forward to an improved economy." When I ask "Why?" they give me a horrified look like I must be stupid. "Because I want my business to improve" is the most frequent answer. To which I ask "What makes you think an improved economy will help you?" This recession/depression is the result of several market shifts. What people/businesses want, and how they want it, has changed. They no longer are willing to part for hard earned (and often saved) dollars for the same solutions they once purchased. They want advances in technology, manufacturing processes, communications and ... (Read Full Article)
    

    Comment on Article Mentions:   Sun Microsystems   Apple Inc.

22. News Roundup: GlobalLogic Eyes $40 Mn Acquisition

    Explore Article VCCircle (Feb 25 2010) Acquisition

    GlobalLogic Eyes $40 Mn Acquisition - GlobalLogic Inc, a product development outsourcing company, said it has renewed its listing plans with improvements in capital markets and is also in advanced stages to acquire a $40 million technology firm. The firm is planning a US listing in the next 12-15 months. The privately-held firm, backed by NEA and Sequoia Capital, currently generates sales of over $100 million, and grew 15% in 2009 calendar year. (DNA Money) Reliance Capital Partners Buys More Stake in Fame - The Anil Dhirubhai Ambani Group company raised stake in Fame India by 1.70% as it bought ... (Read Full Article)
    

    Comment on Article Mentions:   Bombay Stock Exchange   Sequoia Capital India   Fame India

23. Meltwater Buys BuzzGain For $4M

    Explore Article VCCircle (Feb 25 2010) Acquisition

    Meltwater Group, which provides media monitoring services, has acquired BuzzGain Inc., a social media monitoring company with offices in Bangalore. San Francisco-based Meltwater has acquired BuzzGain for a sum of $4 million, which includes earn outs, said a PaidContent report. Meltwater said, in a release, BuzzGain's technology will serve as the platform to enhance its existing social media monitoring service. BuzzGain’s engineering team, consisting of 25 employees, have joined Meltwater after the acquisition was finalised. BuzzGain’s founder and CEO, Mukund Mohan, has also joined the Meltwater Group. “Through the acquisition by Meltwater, the BuzzGain platform will be introduced to an ... (Read Full Article)
    

    Comment on Article Mentions:   Meltwater Group   Meltwater   Mukund Mohan

24. Venture Capital Industry Bodies Merge

    Explore Article VCCircle (Feb 25 2010) Acquisition

    The Indian Venture Capital Association (IVCA) has announced the merger of Global India Venture Capital Association (GIVCA), formerly known as US-India Venture Capital Association (US-IVCA) with itself. IVCA president Mahendra Swarup said, in a statement, “this move will enable us to position India as the FDI destination for global investors.” As part of the move, Luis Miranda, President, IDFC Private Equity, will take over as co-chairman along with Sumir Chadha, co-founder and chairman, GIVCA, and Managing Director, Sequoia Capital India. The merger will also see the inclusion of  leading US and India firms such as Sequoia Capital, Canaan Partners, Clearstone ... (Read Full Article)
    

    Comment on Article Mentions:   Ivca   Sequoia Capital India   Sumir Chadha

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