1. Articles from VCCircle

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    1. Chernin Group Secures $200M In Private Equity

      The Chernin Group, the entertainment and digital media company Peter Chernin founded after leaving News Corp in 2009, has secured about $200m in new funds from a group of investors led by Providence Equity Partners, one of the sector’s most prominent private equity groups. Mr Chernin, who spent 12 years as Rupert Murdoch’s closest lieutenant, said the new partnership would have the resources to pursue “any deal of any size” around the world, from making multibillion-dollar bids to incubating start-ups. Its first potential deals were “very close” and could be announced within weeks, he said. He and Jonathan ...
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    2. Online Property Marketing Firm PropTiger Raises $5M From SAIF, Accel

       Real estate marketing services startup PropTiger Realty Private Limited which runs an online platform PropTiger.com has raised Rs 25 crore (~$5 million) in second round of funding from SAIF Partners and Accel Partners.  This follows an earlier round of funding by few HNIs last year. PropTiger was created in February 2011 by Dhruv Agarwala, Kartik Varma and Prashan Agarwal. Agarwala and Varma are classmates from Harvard Business School who had previously built iTrust Financial Advisors, a mass-market wealth management business, that they subsequently sold to the Karvy Group. Prashan is an alumnus of IIT Kanpur and ISB, Hyderabad who ...
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    3. News Roundup: DE Shaw Reviews India Plan, Lays Off Staff

      DE Shaw Reviews India Plan, Lays Off Staff - The DE Shaw group, one of the world's largest hedge funds, is reviewing its India play. The fund, which launched its private equity business in the country in 2006, has exited about 60% of its investments in Indian companies. It has also put plans to launch an India-dedicated fund on the backburner, and has laid off some employees from its local unit. (Economic Times) Bain Capital, TPG To Make Lilliput Interim Audit Public - Private equity investors Bain Capital and TPG, embroiled in a legal battle with the owner of investee company ...
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    4. Actis, CDC Exit Nine Year Old Investment In SML Isuzu

      Private equity firm Actis and UK-based development finance institution CDC Group have exited their nine-year old investment in commercial vehicle maker SML Isuzu Ltd. The two investors sold their combined 12.33 per cent stake for Rs 73.15 crore ($14 million) in SML Isuzu, which was earlier known as Swaraj Mazda Ltd. Shares of SML Isuzu closed flat at Rs 410 after moving up to Rs 415.05 during intra-day trade on the BSE on Thursday. The company is currently valued at Rs 594.5 crore. Actis Agribusiness Ltd and CDC Financial Services (Mauritius) Ltd sold their stakes at ...
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    5. ExamsGuru Raises Angel Funding, In Talks For Series A

      ExamsGuru Raises Angel Funding, In Talks For Series A
      Bangalore-based Padma Infocom Pvt Ltd owned ExamsGuru.in has raised Rs 15 lakh ($30,000) in angel funding from Simarjit Singh Khera, who is currently working at Gurucool Online Learning Solutions. Khera, according to his profile on Linkedin, has also worked at Frost & Sullivan as the director of healthcare for the APAC region and just before joining Gurucool, was working at a pharmaceutical company called Quintiles Transnational. Although operational, ExamsGuru portal is currently in the final stages of development and will soon be out with all its features. The company was founded in December 2009 by Rahul Jain, Vikas Jain ...
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    6. Myshaadi.in Raises First Round Of Funding From IAN

      Myshaadi.in, an online portal that offers wedding related services, has raised its first round of funding from Indian Angel Network (IAN). The investors include active angel investors Rajan Anandan, Sunil Kalra, Ashim Mehra and Rehan Yar Khan. The financials details of the deal were not disclosed but Rehan Yar Khan will join the board of directors of Myshaadi.in. Founded by Abhishek Jain, Myshaadi.in offers a host of wedding related services like personalised wedding sites, wedding event planning, budget calculator, shopping list, to do list, etc. The website also has a blogging section that talks about the latest ...
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    7. Fung Capital-backed Future Supply Chain Eyes Fresh PE Funding

      Future Supply Chains, India's largest supply chain company, plans to raise a second round of private equity funding to diversify into new consumer-driven sectors as retail growth in the country shows signs of moderation. The company, part of the Future Group, which runs the country's top retailer Pantaloon Retail, earns most of its revenue providing services to affiliated companies such as the Big Bazaar hypermarket chain. "Retail industry's expansion plans in the past 1-2 years have been witnessing a scale-down," Chief Executive Anshuman Singh told Reuters. "So we identified drivers of growth in the consumer-driven sectors instead ...
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    8. The-World-Needs-Us-More-Than-We-Need-The-World Mindset Needs To Change

      The-World-Needs-Us-More-Than-We-Need-The-World Mindset Needs To Change
      The mandate of a private equity investor is to produce higher risk-adjusted returns and this is where PE firms should be judged harshly. And Investing in a high growth economy like India should ideally make job simpler for investors. However, a host of structural issues are marring the potential to translate the high GDP growth into high returns. These concerns are worrisome as India’s attractiveness has plummeted in the minds of international investors. An industry veteran and senior partner at Baring Private Equity International, Rahul Bhasin throws light on such on-the-ground issues which PE firms are grappling with. Baring ...
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    9. News Roundup: Essar In Talks With Bain, KKR To Sell Aegis BPO

      Essar In Talks With Bain, KKR To Sell Aegis BPO - Diversified conglomerate Essar Group is considering a sale of its billion-dollar business process outsourcing (BPO) company Aegis, after receiving non-binding offers from private equity giants. Bain Capital and Kohlberg Kravis Roberts & Co (KKR), among others, have been in discussions to buy out Aegis, which is the second largest independent back office firm after Genpact. Essar has appointed Standard Chartered Bank as adviser to a possible sale of Aegis, which is tracking $1-billion revenue in the current fiscal. (Times of India) Tata Drops Out Of Cable & Wireless Bid - Tata Communications has ...
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    10. The Startup With Indian Link That Facebook Just Acquired

      If you missed out on this bit of news last weekend in the midst of all the talk about Facebook’s billion dollar deal with Instagram, here’s a recap. Facebook has struck another deal to buy a customer-loyalty near field communication (NFC) application Tagtile developed by two IITians working in the US. Developed by two Abheek Anand and Soham Majumdar it is basically a customer loyalty service which works with merchants to know what customers wants and retaining them. Anand was working with Engine Yard, a cloud computing startup, whereas, Mazumdar was working with Google as a software engineer ...
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    11. VC-backed Startup Happiest Minds Forms 7-member Advisory Board

      VC-backed Startup Happiest Minds Forms 7-member Advisory Board
      Serial entrepreneur Ashok Soota’s one year old IT services venture Happiest Minds Technologies has brought in around half a dozen individuals including two members who are part of its investor group to form an advisory board. These include three expats Rod Hefford, Mittu Sridhara and David Webb. Hefford is currently vice president of IT for Unilever and is responsible for all customer development and supply chain systems globally. He has more than 20 years industry experience including significant roles in Asia, Africa and Europe. UK-based Sridhara will be joining TUI Travel PLC as CIO and a member of the ...
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    12. IPTV Startup Raises Rs 2.5Cr From Silver Stone Capital, Others

      IPTV Startup Raises Rs 2.5Cr From Silver Stone Capital, Others
      Internet Broadcasting Corp (IBC), a US-based internet protocol television (IPTV) services startup dealing with Bollywood and other South Asian content, has raised Rs 2.5 crore ($0.5 million) in a series A round of funding from its existing investor Silver Stone Capital and also from four angel investors who are based in Washington D.C. The two-year-old firm will use the fund to roll out its services under Vibble TV and start its operations in the US market next month. The latest round is part of a larger funding round of $2 million of which $1.5 million is ...
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    13. Head Of Business Development IntelleGrow

      IntelleGrow is a unique SME lending business in India which supports small & medium enterprises in the energy & infrastructure sectors to grow through commercial debt provision (under 2 crores/loan). The business started in 2010 and has lent to 12 companies to-date. The facility specifically targets small businesses that are unable to be served by banks, comprising the “missing middle” asset class.   After a successful 14 months in operation, we are seeking a Head of Business Development. This is a highly entrepreneurial role working for a fast-growing early stage organisation in a start-up environment, with overall responsibility for the growth of ...
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    14. Head of Business Development - Intellecap

      IntelleGrow is a unique SME lending business in India which supports small & medium enterprises in the energy & infrastructure sectors to grow through commercial debt provision (under 2 crores/loan). The business started in 2010 and has lent to 12 companies to-date. The facility specifically targets small businesses that are unable to be served by banks, comprising the “missing middle” asset class.   After a successful 14 months in operation, we are seeking a Head of Business Development. This is a highly entrepreneurial role working for a fast-growing early stage organisation in a start-up environment, with overall responsibility for the growth of ...
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    15. News Roundup: Hindujas To Launch $500M Infra Fund

      Hindujas To Launch $500M Infra Fund - The Hindujas plan to launch a fund focused only on investments in infrastructure projects. The diversified group has plans to launch a $500-million (Rs 2500 crore) India-focused infrastructure fund by this year. The group itself would invest about 25 per cent of the fund. The Hindujas will look at investments across the areas including roads, ports and power sectors. (Business Standard) Lok Capital Eyes Exit From Janalakshmi - Lok Capital, a venture fund that invests in social enterprises, is preparing to exit from its investment Janalakshmi Financial Services, an urban microfinance company. The Bangalore-based company ...
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    16. PE-backed Max India To Invest $47M In ‘Senior Living’ Biz

      Warburg Pincus-backed diversified firm Max India is acquiring a group firm which will develop senior home living projects. Max India will pump in Rs 240 crore ($47 million) in the firm as part of its business expansion plan. Analjit Singh-led Max India, which is into healthcare services, insurance and other businesses, will buy the firm from the promoter Antara Senior Living Pvt Ltd at par value of Rs 1 lakh and then invest afresh to build its operations. The senior living project will encompass properties for independent living with nursing and other human care services, besides social, educational, devotional and ...
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    17. News Roundup: Sahara, ICICI Bank, Bharti In Fray For Parsvnath Land

      Ajay Piramal Set To Buy European Drug Firm - The Ajay Piramal Group is set to buy a European drug firm that will expand the group's ability to conduct basic pharmaceutical research, a weakness that has long hobbled Indian pharma companies. The firm, whose identity is not known, will help the Piramal Group do basic research in collaboration with universities and public institutes. Piramal is expected to pay $50-100 million for the firm. (Economic Times) Sahara, ICICI Bank, Bharti In Fray For Parsvnath Land - Sahara Group, ICICI Bank, Bhushan Steel, Bharti Realty, Red Fort Capital and Shri Lal Mahal are ...
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    18. Future Ventures Ups Stake In Amar Chitra Katha To 66%

      Future Ventures India Ltd, the investment and business management firm of Kishore Biyani, has once again upped its holding in edutainment media firm Amar Chitra Katha Pvt Ltd (ACK). This follows a buyback offer made by the ACK which was accepted by some shareholders and the firm extinguished those shares. Although Future Ventures did not invest afresh, its holding has bumped up to 65.84 per cent as a result of reduction in overall outstanding paid-up equity shares. Public-listed Future Ventures India said that ACK had made an offer to buy back up to 70,457 equity shares from its ...
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    19. Sequoia Capital-backed eClerx Acquires US-based KPO Agilyst

      Sequoia Capital-backed eClerx Acquires US-based KPO Agilyst
      eClerx Services Ltd, a knowledge process outsourcing (KPO) and business process outsourcing (BPO) services firm, has acquired 100 per cent stake in US-based KPO Agilyst Inc. The acquisition of the KPO firm has been done through eClerx Investments Ltd for an undisclosed amount. “The consideration for the acquisition will be all cash and includes a substantial earn-out component, based on Agilyst’s future performance,” Sequoia Capital-backed eClerx said in a statement. The deal is being funded through internal cash accruals. The deal will be EPS accretive and is expected to close in near future. Agilyst will operate as a wholly ...
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    20. Unmetric Raises $3.2M In Series A Round Led By Nexus Ventures

      Social media benchmarking company Unmetric Inc has raised $3.2 million in Series A funding led by Nexus Venture Partners. Unmetric will use the funds to continue developing its benchmarking platform, enabling companies to survey and analyze the content strategy of a brand and the key terms that are triggering customer engagement. Unmetric will also be using the round to further expand its team in the US. Headquartered in Chicago with offices in Chennai & Coimbatore, Unmetric works with clients in North America, India and other regions. It was started last September. Using a combination of advanced algorithms and human computing ...
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      Mentions: Citibank Pepsi Nestle
    21. Bangalore-based Startup Insieve Gets Funding From Ojas, Blume Ventures

      Bangalore-based startup Insieve has raised funding led by Ojas Venture Partners, with participation from Blume Ventures as well. Although the deal amount has not been disclosed, Ojas typically makes an initial investment of $250,000-$1.5 million, with follow-on rounds cumulating to a maximum of $3 million per company. Insieve is an intelligent sharing network that understands what one shares (within your network) and recommends content based on one’s reading behaviour (as well as from the network). The capital raised will be used for product round-up (right now, it is in beta stage) and for developing go-to-market strategy ...
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    22. Unitus Seed Fund, Others Invest In Villgro Innovation

      Chennai-based Villgro Innovation Marketing Pvt Ltd, an innovative rural distribution company, has raised a significant seed series investment from Unitus Seed Fund and a group of angel investors to further expand its operations in southern India. With the current capital infusion, Villgro plans to expand its distribution operations, increase product portfolio and build internal systems and management capability. Within the next five years, Villgro aims to improve the income of one million rural households by at least 20-30 per cent by encouraging the usage of sustainable and environment-friendly products, according to a company statement. Unitus Capital acted as a financial ...
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    23. Bamboo Finance Invests $3M In Vienova Education

      Vienova Education Pvt Ltd, a Delhi-based affordable education provider, has raised an additional Rs 15.7 crore or approximately $3 million from Bamboo Finance who manages the Oasis Fund. The current investment follows earlier funding by the Indian Angel Network and others in 2008 and by Helion Advisors in 2011. With this round of funding, Keith Allman from Bamboo Finance joins the board of Vienova. Other board members include Helion’s Sanjeev Aggarwal, IAN’s Saurabh Srivastava and serial entrepreneur Rohit Chand. Bamboo Finance has earlier invested in the affordable hospital chain Vaatsalya and low power consuming ATM maker Vortex ...
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    24. Carlyle, Sequoia In Talks To Invest In Hard Rock Cafe Franchisee

      Private-equity funds including Carlyle Group and Sequoia Capital are in separate talks to invest about $40 million to $50 million in JSM Corp, which operates the Indian franchises of Hard Rock Cafe and California Pizza Kitchen, two sources with knowledge of the matter said. JSM Corp, which runs 12 outlets across different brands, is looking to raise capital to expand its networks and operations, said the sources, who declined to be named as the discussions are not yet public. Premji Invest, the venture capital arm of Indian software services exporter Wipro, and New Silk Route, an Asia-focused private-equity firm, are ...
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