Articles from VCCircle

1. Monster's Tadanki To Join Yahoo As MD Yahoo India, Middle East

   Explore Article VCCircle (Apr 15 2009)

   Internet giant Yahoo India had been without a formal Managing Director for close to two years after George Zacharias left for entrepreneurial pursuits. The search has ended now with Arun Tadanki, President Asia-Pacific, Monster, set to join the company. Medianama reported that Tadanki as been appointed as MD for  South Asia, Middle East and Africa for Yahoo. VCCircle could not independently confirm the development. Tadanki will join in May, and will assume the levers of the internet giant from interim MD and head of audience Gopal Krishna. He will report to Keith Nilsson, SVP and Head of Emerging Markets for ... (Read Full Article)
   

   Comment on Article Mentions:   Keith Nilsson   George Zacharias   Gopal Krishna

2. Vedanta's Bid For Asarco Meets Fresh Challenge From Grupo Mexico

   Explore Article VCCircle (Apr 14 2009) Acquisition

   NRI businessman Anil Agarwal controlled Vedanta Resources could face fresh challenge in acquiring US copper firm Asarco. Mexican mining company Grupo Mexico, under whose management control Asarco went into bankruptcy protection four years back, has put in a fresh bid of $1.3 billion in cash against Vedanta’s $1.7 billion bid made last October. Although, Grupo Mexico’s bid is lower than Vedanta’s, it has a higher cash component. Vedanta had offered to pay $1.1 billion in cash, plus a note for $600 million as against Grupo Mexico’s $1.3 billion cash offer. Vedanta had in October revised down its earlier bid price ... (Read Full Article)
   

   Comment on Article Mentions:   Asarco   Vedanta Resources   Anil Agarwal

3. Sanjay Trehan Quits NDTV Convergence

   Explore Article VCCircle (Apr 14 2009)

   NDTV Convergence CEO Sanjay Trehan has quit the organisation after working with it for two years. He put his papers yesterday and is currently serving his notice period. He had joined the company in March 2007 and was the founding CEO of NDTV Convergence. He has told Exchange4media.com that he had found a better and a bigger opportunity and decided to take it. It is also speculated that Trehan has decided to move out of NDTV Convergence owing to the new cost rationalisation that the organisation has adopted. He has, however, denied such reports. Interestingly, Trehan has put his papers ... (Read Full Article)
   

   Comment on Article Mentions:   Hindustan Times   Sanjay Trehan   Times Internet

4. "Next Wave of Outsourcing Will See Creation of Shared Service Models"

   Explore Article VCCircle (Apr 14 2009) Acquisition

   Walden International appointed Rajesh Subramaniam as its managing director in July last year as the venture capital fund re-entered India after a four-year-long hiatus. For Subramaniam, who was till then working as CFO of Firstsource Solutions, this was a re-entry into the venture capital industry. Before joining ICICI OneSource (which later became Firstsource), Subramaniam was working as a venture capitalist with GIV Venture Partners. "There (GIV Venture Partners) I realized that I had no tools or skills relevant to be a venture capitalist but I wanted to help entrepreneurs," says Subramaniam. To get operational experience, he joined ICICI OneSource, where ... (Read Full Article)
   

   Comment on Article Mentions:   Madhav A. Chanchani   ICICI OneSource   Firstsource Solutions

5. Sukhinder Singh Cassidy Quits Google to Join Accel Partners

   Explore Article VCCircle (Apr 11 2009)

   Sukhinder Singh Cassidy has quit Google as its president for Asia-Pacific (APAC) & Latin American operations to join global venture and growth equity firm Accel Partners. Singh Cassidy has joined Accel partners as it CEO-in-Residence.  In her new role, Singh Cassidy, 39, will evaluate new venture and growth equity opportunities in partnership with Accel and will work with companies in Accel's digital media and advertising portfolio.  Prior to quitting Google, Singh Cassidy was responsible for all of Google's commercial operations in both regions, and built the company's presence from inception to its current scale serving users, advertisers and partners across ... (Read Full Article)
   

   Comment on Article Mentions:   Accel   Accel Partners   Google

6. ONGC-Led Consortium Daring To Make $16-18 Billion Investment Overseas

   Explore Article VCCircle (Apr 10 2009)

   ONGC is leading a consortium of Indian oil firms to bid for a minority stake in an oil block at Venezuela. The consortium includes Reliance Industries besides IOC and Oil India Ltd. Though the equity valuation for the oil block is not clear at present, according to a Dow Jones report,  the block would entail development cost of $16-18 billion and could go even higher making it one of the biggest overseas investment projects for an Indian firm or a group of firms. The oil block is one of seven such blocks in the Orinoco belt that Venezuela is offering ... (Read Full Article)
   

   Comment on Article Mentions:   Reliance Industries Limited   ONGC Videsh   Oil India

7. India Financial Inclusion Fund Raises Additional $20M

   Explore Article VCCircle (Apr 9 2009)

   Limited partners haven't turned their face against microfinance institutions yet. Probably no reason to do that with the rural economy shining. Hyderabad based India Financial Inclusion Fund (IFIF) fund has raised $20 million in fresh capital, taking its total fund size to $58 million. IFIF is advised by Hyderabad-based Caspian Advisors Pvt Ltd, who also manages Bellwether Microfinance Fund (Bellwether). IFIF’s investors include CDC Group, the Global Microfinance Equity Fund (GMEF), responsAbility Social Group AD, Gray Ghost Microfinance Fund, FMO and a U.S. institutional investor. Set up in Mauritius in August 2008, IFIF is an off-shore India-focused equity fund, investing ... (Read Full Article)
   

   Comment on Article Mentions:   SKS Microfinance   India Financial Inclusion Fund   Shrija Agrawal

8. E-Infochips and Indian Angel Network Invest in Digilogue

   Explore Article VCCircle (Apr 9 2009)

   E-Infochips and Indian Angel Network (IAN) have announced an investment in Digilogue Communications, a digital brand communications service. IAN members Rajan Anandan and Puneet Vatsayan have invested in it. Financial details of the transaction have not yet been disclosed. Digilogue provides services such as digital content publishing services, social media marketing, online public relations, digital CRM, online video broadcasting services, mobile marketing & outreach, online brand building, search marketing and corporate internet services. Digilogue has a team over 100 employees including software developers, web designers, graphic artists, brand specialists, business strategists and content writers. It has Digilogue has also tied ... (Read Full Article)
   

   Comment on Article Mentions:   Rajan Anandan   Supriyo Gupta   Digilogue

9. E-Infochips and Indian Angel Network Invest in Brand Communications Co

   Explore Article VCCircle (Apr 9 2009)

   E-Infochips and Indian Angel Network (IAN) have announced an investment in Digilogue Communications, a digital brand communications service. The financial details of the transaction are not known. The digital services foray is led by Indian Angel Network’s Rajan Anandan-  ex Vice President and country general manager of Dell, India and  Puneet Vatsayan- founder of Mobera Systems.  E-Infochips is an IP driven Spec-to-Silicon-to-System solutions company, headquartered at Ahmedabad in India and in Sunnyvale, CA in the US. It is led by Pratul Shroff, who has earlier worked for Intel and Daisy Systems. Digilogue provides services such as digital content publishing services, social media marketing, online ... (Read Full Article)
   

   Comment on Article Mentions:   Digilogue   Rajan   Rajan Anandan

10. Church Pension Fund Opens Shop In Asia

    Explore Article VCCircle (Apr 9 2009)

    The $8 billion Church Pension Fund based in New York City has roped in Eric Mason(ex-Carlyle Group), to open a new Hong Kong office, its first in Asia, reports Dow Jones. Mason is a former JP Morgan banker and most recently headed Carlyle Group's Asian leveraged finance team(set-up in 2007 but disbanded in November 2008 after the credit crunch hampered its ability to raise funds). He will look after all asset classes including private equity, real estate and hedge fund investments in the continent, the report said. Church Pension Fund, which has invested in some Asian PE funds including Future Group ... (Read Full Article)
    

    Comment on Article Mentions:   JP Morgan   Future Group   Carlyle Group

11. News Roundup: French Firm Vetoquinol In Race To Acquire Wockhardt

    Explore Article VCCircle (Apr 8 2009) Mobile , Acquisition

    French Firm Vetoquinol Joins Race for Acquiring Wockhardt’s Vet Unit - French company Vetoquinol is the latest to join the list of global majors looking to acquire the Rs 250 crore animal healthcare business of Wockhardt Pharma. Vetoquinol has started its due diligence and is most likely to buy the vet business. Its India foray is in line with its plans for the Asian market. Vetoquinol will compete with two other contenders the world biggest pharma company Pfizer and French company Sanofi Aventis to acquire the Wockhardt business. Another French company Virbac is also believed to be in the fray. ... (Read Full Article)
    

    Comment on Article Mentions:   Sanofi Aventis   Vetoquinol   Nortel

12. News Roundup: Vetoquinol In Race To Acquire Wockhardt's Vet Unit

    Explore Article VCCircle (Apr 8 2009) Mobile , Acquisition

    French Firm Vetoquinol Joins Race for Acquiring Wockhardt’s Vet Unit - French company Vetoquinol is the latest to join the list of global majors looking to acquire the Rs 250 crore animal healthcare business of Wockhardt Pharma. Vetoquinol has started its due diligence and is most likely to buy the vet business. Its India foray is in line with its plans for the Asian market. Vetoquinol will compete with two other contenders the world biggest pharma company Pfizer and French company Sanofi Aventis to acquire the Wockhardt business. Another French company Virbac is also believed to be in the fray. ... (Read Full Article)
    

    Comment on Article Mentions:   Nortel Networks   Vetoquinol   Nortel

13. Network18 Acquires Investment Advisory Arm Capital18

    Explore Article VCCircle (Apr 7 2009) Acquisition

    Media group Network 18 has acquired its group investment advisory business Capital18 Media Advisors Pvt Ltd. The acquisition has been made on a going concern basis. Its related contracts and employees have also been acquired. The acquisition would be effective from January 01, 2009. Capital18 Media Advisors is the investment adviser for Capital18 Mauritius Ltd. Capital18 is the media group’s investment arm focused on investing in media, technology and entertainment. It has invested in various media companies like Ubona, 24/7 Learning, Webchutney, multiplex company Star Gaze and Networkplay.in. The acquisition of the investment advisory business means Capital18 is unlikely to be ... (Read Full Article)
    

    Comment on Article Mentions:   Web18   Ubona   Network18

14. Do VC's Guess The Exit At The Beginning?

    Explore Article VCCircle (Apr 6 2009) Acquisition

    Question: You often hear to leave out the possible exit scenario when you pitch. Brad states that its because its usually wrong. I suspect most VC's discuss likely exits with their partners before making an investment, what percent of the time do you guys generally "guess" the exit on the front side of the investment? A: (Brad): I'm going to answer this from an early stage VC perspective.  I've never been a later stage VC nor have I been a buyout guy, so I won't try to answer for people doing those types of investments.  Back in prehistoric times when ... (Read Full Article)
    

    Comment on Article Mentions:   Black Swan

15. Sequoia, Nexus Back Electronic TV Programme Guide

    Explore Article VCCircle (Apr 5 2009)

    Sequoia Capital and Nexus India Capital backed What’s On India Media Ltd (WOIML) is in the process of getting a licence to uplink non news and current affairs television channel in the country. Mumbai-based WOIML has an electronic programme guide (EPG) which aggregates programming information from hundreds of TV channels. The company may be looking to expand within the media business by launching a TV channel. The details are not known. When contacted by VCCircle, Atul Phadnis, Founder, WOIML, declined to comment.  The company was founded in 2005 by Atul Phadnis, who had earlier worked with media agency Rediffusion-DY&R, Mindshare, Starcom and TAM Media. It was originally ... (Read Full Article)
    

    Comment on Article Mentions:   Rediffusion-DY & R   Starcom Worldwide   VCCircle

16. Banyan Tree Invests In IT Infrastructure Company Trimax

    Explore Article VCCircle (Apr 3 2009) Acquisition

    Banyan Tree growth capital fund, a $125 million mezzanine fund, has invested in a Mumbai based IT Infrastructure management services company Trimax IT Infrastructure & Services Ltd for a 10% stake. The amount of money invested stands undisclosed. Media reports suggest the fund has picked up about 10-12% in the company. The company plans to use the funds to strengthen its product and service offerings and for its capital expenditure. Apart from being a system integrator, Trimax offers managed services and tech support services by incubating new offerings like infrastructure management (including remote), network security management and data center operations. The ... (Read Full Article)
    

    Comment on Article Mentions:   Ruchika Sharma

17. News Roundup: Pantaloon May Sell Bonds, Recast Strategy

    Explore Article VCCircle (Apr 3 2009)

    Pantaloon May Sell Bonds, Recast Strategy - Pantaloon, the country’s largest retailer, aims to sell bonds and recast its operational strategy to conserve cash and repay short-term debt. The company’s cash flows have been negative for some time and it has been borrowing to fund expansion. About Rs 260 crore debt, mostly bridge loans, is due for payment in the next six months. The company can partly meet this with its undrawn term loans of Rs 300 crore and by issuing short-term bonds. Additionally, to boost operational efficiency, the retailer is negotiating for better credit terms and prices from vendors ... (Read Full Article)
    

    Comment on Article Mentions:   Fidelity International Limited   Syntel   Aircel

18. News Roundup: Genpact’s Pramod Bhasin Appointed as Nasscom Chairman

    Explore Article VCCircle (Apr 3 2009)

    Pantaloon May Sell Bonds, Recast Strategy - Pantaloon, the country’s largest retailer, aims to sell bonds and recast its operational strategy to conserve cash and repay short-term debt. The company’s cash flows have been negative for some time and it has been borrowing to fund expansion. About Rs 260 crore debt, mostly bridge loans, is due for payment in the next six months. The company can partly meet this with its undrawn term loans of Rs 300 crore and by issuing short-term bonds. Additionally, to boost operational efficiency, the retailer is negotiating for better credit terms and prices from vendors ... (Read Full Article)
    

    Comment on Article Mentions:   Economic Times   Pramod Bhasin   Syntel

19. Infomedia 18 Acquires Local Review Website Burrp!

    Explore Article VCCircle (Apr 2 2009) Maps/Local , Acquisition

    In an intertesting development, publishing firm Infomedia 18 Ltd has acquired local reviews website Burrp!. The financial terms of the deal have not been disclosed. Burrp! is one of the first few local information websites launched in the Indian market in the last three years. Burrp! describes itself as a "fun way to find and share your views on local stuff, ranging from restaurants to bars; cafes to roadside stalls". It contains reviews for eight cities as of now which include Mumbai, Bangalore, Delhi and Kolkata. In a communication to the stock exchanges, the Network 18 group-owned company said that it has ... (Read Full Article)
    

    Comment on Article Mentions:   Burrp   Network18 Group   Software Pvt Ltd

20. Infomedia 18 Acquires Local Reviews Website Burrp!

    Explore Article VCCircle (Apr 2 2009) Maps/Local , Acquisition

    Finally, Indian web 2.0 companies are finding takers. Publishing firm Infomedia 18 Ltd has acquired local reviews website Burrp! for an undisclosed amount. Burrp! was one of the first few local information websites launched in the Indian market in the last three years. Burrp! describes itself as a "fun way to find and share your views on local stuff, ranging from restaurants to bars; cafes to roadside stalls". It contains reviews for eight cities as of now which include Mumbai, Bangalore, Delhi and Kolkata. In a communication to the stock exchanges, the Network 18 group-owned company said that it has "acquired the ... (Read Full Article)
    

    Comment on Article Mentions:   Burrp   Network18 Group   Software Pvt Ltd

21. "We Are Not A Google Challenger:" Kosmix Founder

    Explore Article VCCircle (Apr 1 2009)

    Comment "When I feel like watching a Hindi movie and don’t want to sift through all the various language movies from ..." - honey

    Kosmix.com, a new age search engine, has been dubbed as a Google challenger by the media, a description much disliked by its Indian founders, though. The three month old website allows it users to explore the web for a topic by presenting information in the form of relevent videos, photos, news, commentary, opinion, communities related to the topic. Kosmix's founders Anand Rajaraman and Venky Narayan, both graduates of IIT Madras and PhDs from Stanford University, like to call it 'explore engine'. They also recently launched MeeHive, a site which organises news based on your favourite topics. And they will depend ... (Read Full Article)
    

    1 Comment Mentions:   Google   Stanford University   Ruchika Sharma

22. Google Forms $100 Million Venture Fund

    Explore Article VCCircle (Mar 31 2009)

    Google Inc is forming a $100 million fund to invest in early-stage start-up firms. The fund, to be called Google Ventures, will be wholly owned by Google, but will operate as a separate entity and will seek investment opportunities to maximize returns rather than looking for investments that strictly fit with Google's strategic vision. Rich Miner, a co-founder of Android smart phone software that Google acquired in 2005, and Bill Maris are the fund's two managing partners. Earlier this month, Reuters reported that Miner appeared at an investor conference for Internet start-up companies with a name tag that listed his ... (Read Full Article)
    

    Comment on Article Mentions:   Google   Motorola   Intel

23. Charles River Ventures Raises $320M For Their 14th Fund

    Explore Article VCCircle (Mar 31 2009)

    US-based venture capital firm Charles River Ventures has raised $320 million for its fourteenth fund, Charles River Partnership XIV. The firm's last fund of $285 million was raised in April 2007, and with this fund Charles River will have $2.1 billion under management. It's not clear how much of this will come to India. Charles River has two partners, Swapnil Shah and Devdutt Yellurkar, who focus on India opportunities. The firm has invested in two Indian startups, SMS Gupshup and Gridstone Research, as a co-investor with Helion Ventures. The new fund comes in an environment where raising any new capital is getting ... (Read Full Article)
    

    Comment on Article Mentions:   Charles River Ventures   Swapnil Shah   Gridstone Research

24. Dinesh Wadhawan of Indiatimes Quits, May Start His Own Venture

    Explore Article VCCircle (Mar 28 2009)

     Dinesh Wadhawan has stepped down as the MD and CEO of Times Internet Ltd. (Indiatimes), reports Medianama.com. The move is not unexpected as the talks of him quitting the firm had been surfacing for a few months. The reports also says that Sunil Rajshekhar, who had helped set up Indiatimes had been appointed as the president and COO of the company last to eventually take over from Wadhawan. Times Internet is a subsidiary of Bennett, Coleman & Co. Ltd (BCCL).  G Subramaniam, CFO, BCCl is also leaving the firm. He may soon join another media company. Previously, he was the ... (Read Full Article)
    

    Comment on Article Mentions:   Mahendra Swarup   Indiatimes   Aircel

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