A Pair of IITians Seek to Raise Venture Capital Funding

Two IITians teamed up to start a tea cafe chain ‘Chaayos’ in the NCR region and seeking to raise venture capital to open nearly 50-odd stores across the country.

Currently, there are five cafes with the theme ‘Experiments with Chai’ in Gurgaon and Noida and five more would be opened by the end of this year.

“We already have raised one round of angel investment of over Rs 2 crore from Powai Lake Ventures, led by Zishaan Hayath who is an angel investor. We are planning to go in for institutional round towards end of this year,” said Nitin Saluja, founder of Chaayos.

The chain plans to add another 50 cafes in the next two years by covering at least two more cities and increase penetration in Delhi NCR region.

“We are targeting cities with lots of young population,” he said.

Source: Economic Times

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, IITians, Tea Cafe Chain, Chaayos, Experiments with Chai, Gurgaon, Noida, Angel Investor, Powai Lake Ventures, Zishaan Hayath, Nitin Saluja, Delhi.


Sequoia Capital Leads a $15M Series A Round for Octro

Sequoia Capital, an American venture capital firm located in Menlo Park, California, has led a $15 million series A funding round for Delhi-based mobile gaming company Octro.

The marquee venture fund’s bet on mobile gaming rides on India’s rapidly growing smartphone penetration and games cornering the largest chunk of the app market.

Founded by Saurabh Aggarwal in 2006, Octro started off as a voice over internet protocol (VoIP) player but transitioned into a pure-play mobile games developer just two years ago. It creates popular Indian offline games such as Teen Patti and Rummy and makes them available on the mobile platform.

“We are in the top five downloaded games across multiple categories on Google Play,” said Octro’s founder & CEO Aggarwal, who had earlier co-founded PDAapps, the creator of VeriChat, a mobile IM solution which was acquired by Intellisync in 2005.

Source: The Times of India

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, Menlo Park Venture Capital, California Venture Capital, Sequoia Capital, American Venture Capital, Delhi, Mobile Gaming Company, Octro, India, App Market, Saurabh Aggarwal, Teen Patti, Rummy, Mobile Platform, Google Play, PDAapps, VeriChat, Intellisync.


American Venture Capital Firm Boosts IndiaHomes with Rs 150 cr

A global venture capital firm New Enterprise Associates, which is headquartered in Timonium, MD, invested Rs 150 cr in property broking portal IndiaHomes.

IndiaHomes, which started operations in 2009, is present in Delhi, Gurgaon, Noida, Mumbai, Bangalore and Kolkata, is planning to expand its presence to other major cities.

This is the second round of private equity fund raising by the company. It had earlier raised Rs 120 crore from Helion Venture Capital and Foundation Capital.

“We have decided to expand our operations to 50 major towns in India. We have raised Rs 150 crore private equity led by NEA. Our existing partners Helion Venture and Foundation Capital have also invested,” IndiaHomes Founder and Managing Director Samarjit Singh told reporters here.

Source: Economic Times

 

Tags: Venture Capital, Venture Capital Firm, Venture Capital Group, Venture Capital Industry, Venture Capital Investment, Venture Capital Investor, Venture Capital Fund, VC Funding, VC, US Venture Capital, American Venture Capital, New Enterprise Associates, Timonium, MD, Property Broking Portal, IndiaHomes, Delhi, Gurgaon, Noida, Mumbai, Bangalore, Kolkata, Helion Venture Capital, Foundation Capital, Private Equity, Samarjit Singh.


Fortis Healthcare Appoints Udai Dhawan to Its Board

Fortis Healthcare Ltd, an established chain of super speciality hospitals based in Delhi, is pleased to announce the appointment of Udai Dhawan, a Standard Chartered Private Equity India Head and Managing Director, as an additional director on the board of directors.

The appointment is effective from February 11, 2014, which is in pursuance of SCPE’s agreement with the Company, the disclosure said.

Earlier in September last year, Standard Chartered Private Equity Mauritius III Ltd had invested Rs 37.7 crore in Fortis Healthcare afresh in a preferential allotment, raising its total investments to around Rs 250 crore in the healthcare company.

Also, Fortis Healthcare’s executive director Balinder Singh Dhillon has stepped down from the board of the company, effective February 11, 2014. He will, however, continue as President of the Governance Function.

Meanwhile, the private hospital chain posted a decline of 45 per cent in its consolidated net profit for fiscal third quarter ended on December 31, 2013, to Rs 389.09 crore from Rs 705.03 crore in the year ago period, despite one-time gain of Rs 424.16 crore due to stake dilution in Quality Healthcare primary care business in Hong Kong.

Source: VC Circle

 

Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Fortis Healthcare Ltd, Delhi, India, Standard Chartered Private Equity India, Udai Dhawan, Standard Chartered Private Equity Mauritius III Ltd, Balinder Singh Dhillon, Hong Kong.


Sequoia’s Knowlarity Communications Buys Unicom Techlabs

Knowlarity Communications, Gurgaon-based cloud telephony firm, has acquired Unicom Techlabs Pvt Ltd, a Delhi-based cloud telephony startup.

The acquisition brings Unicom’s 200 plus customers in SMB, e-commerce, real estate, healthcare, education and media segment under Knowlarity. Besides Unicom’s IT domain and customers, Knowlarity will get full ownership of intellectual property belonging to the company.

Knowlarity is backed by Sequoia Capital which invested Rs 34 crore in the company in January 2012. Previously, it also raised funding from Emergic Venture Capital.

“We at Knowlarity are overwhelmed to have successfully acquired Unicom. It is also a great learning experience for all the consequent deals in the pipeline for 2014 which will take us further towards our goal of market consolidation. Knowlarity is more than willing to help startups looking for an exit option in a fast consolidating market. We have more acquisitions planned in the coming year which is definitely a promising start to 2014 for all of us at Knowlarity,” said Shruti Agarwal, CFO, Knowlarity.

Source: VC Circle

 

Tags: Venture Capital, Venture Capital firm, Venture Capital group, Venture Capital industry, Venture Capital investment, Venture Capital Investor, Venture Capital fund, VC Funding, VC, Knowlarity Communications, Gurgaon, Cloud Telephony Firm, Sequoia Capital, Unicom Techlabs Pvt Ltd, Delhi, Startup, Start-Up, SMB, E-Commerce, Real Estate, Healthcare, Education, Media Segment, Emergic Venture Capital, Shruti Agarwal.


Online Furniture Store Urban Ladder Scores $5M Funding

Urban Ladder, a Bangalore-based online furniture store declared that it has raised $5 million (Rs 31.2 crore) from SAIF Partners and Kalaari Capital in first funding round.

The proceeds will be used to expand its footprint, products range and build its technology platform, according to a press statement released by the company.

“We are on track to achieve our goal to be the largest furniture store, online or off-line, in India within the next 18 to 20 months,” said Ashish Goel, cofounder and chief executive, Urban Ladder.

This is the second round of funding for the company, which was launched in 2012, and provides furniture solutions in Bangalore, Delhi, Mumbai, Chennai and Pune. In August last year, it had raised $1 million from Kalaari Capital.

Source: Economic Times

 

Tags: Venture Capital, Venture Capital firm, Venture Capital group, Venture Capital industry, Venture Capital investment, Venture Capital Investor, Venture Capital fund, VC Funding, VC, Urban Ladder, E-Commerce, Online Furniture Store, SAIF Partners, Kalaari Capital, Ashish Goel, in Bangalore, Delhi, Mumbai, Chennai, Pune, Kalaari Capital.


Asia’s SAIF Partners Launches Hedge Fund

SAIF Partners, a leading Asian private equity firm, with dedicated local offices in China and India, is planning the launch of its first hedge fund.

Asian Investor reported that SAIF, which provides growth capital to companies in Asia, will launch the new offering this month. The hedge fund will utilize a long/short strategy targeting companies with “substantial exposure to the Chinese economy or a large base in Greater China,” with at least $400 million in market capitalization.

The article added that SAIF has been running the hedge fund, run by Beijing-based partner Brandon Lin, with internal money for over a year and had been looking to expand with seed capital from one of its main investors.

Founded in 2001, SAIF has additional locations in Beijing, Shanghai and Delhi. It currently manages over $3.5 billion in capital. Source

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Hong Kong Private Equity, Asia Private Equity, China Private Equity, India Private Equity, SAIF, SAIF Partners, Hedge Fund of Funds Business, Hedge Fund, Hedge Funds, Fund of Hedge Funds, Hedge Fund of Funds, Hedge Fund industry, Hedge Fund Group, Hedge Fund Market, Hedge Fund Investments, Hedge Fund Advisory Firm, Chinese Economy, China, Asia, Hong Kong, India, Greater China, Beijing, Shanghai, Delhi, Brandon Lin.


Lotus Greens Receives Rs 1,000 cr Investment from Red Fort Capital

Red Fort Capital, a leading private equity real estate firm focused on India, will be investing Rs 1,000 crore in Lotus Greens, which focuses on real estate, hospitality, healthcare and education.

Lotus will develop two townships in Delhi, a senior company official said. Lotus Greeen also has interest in hotels, healthcare and education. “The PE firm will invest over Rs 635 crore in new projects that will be jointly developed with Lotus Green and rest Rs 365 crore will be invested in two existing projects which includes a township project Gurgaon and another on Yamuna Expressway,” Lotus Green vice chairman P Sahel said.

Red Fort Capital will pick up about 50% stake in these projects from the conceptualisation stage, a person close to the deal said. “Since PE firm will be involved in the early stages, they will invest at cost. These projects will be in residential space that will be self liquidating and help on time exit for the PE firm in the next 4-5 five years from the start of the projects,” he added. Source

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, Lotus Greens, Red Fort Capital, India Private Equity, India Real Estate, India Real Estate Investment, , Hospitality, Healthcare, Education, Lotus Greens, Delhi, New Delhi, Gurgaon, Yamuna Expressway, P Sahel.


Oman Investment Fund Eyes Stake in NCDEX

Oman Investment Fund (OIF), a sovereign wealth fund, is in final step of discussion with Jaypee Capital Services for acquiring 9.7% stake in India’s agricultural futures exchange National Commodity and Derivative Exchange Limited (NCDEX), according to a newspaper report.

India’s Economic Times said that Delhi-based broker Jaypee Capital Services, the anchor investor in NCDEX, is in advanced talks with domestic and foreign private equity players to sell a chunk of its 22.4 per cent stake in the bourse.  The shareholder, according to sources, is close to selling 14.7 per cent to IDFC Private Equity Fund and Oman Investment Fund for Rs1,320 million ( Rs180 a share). About five per cent will go to IDFC PE for Rs440 million while 9.7 per cent will be sold to OIF for Rs.880 million.

The two deals value NCDEX at Rs9,120 million, lower than rival MCX’s value of Rs1,4360 million. Motilal Oswal’s Investment Banking arm is Jaypee’s advisor. Source

 

Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity fund, Private Equity investment, Private Equity investor, Fund of Fund, Oman Investment Fund, OIF, Jaypee Capital Services, National Commodity, Derivative Exchange Limited, NCDEX, India, Economic Times, Delhi, New Delhi, IDFC Private Equity Fund.


Kotak Realty Fund Eyes Permanently Close of $400 Million Offshore Fund in H1

The real estate private equity fund of Kotak Mahindra Group will do the money injection of $15-20 million in each project.

Kotak Realty Fund, the real estate private equity fund of Kotak Mahindra Group, expects to close its international fund in six months, a top company executive told VCCircle. The fund has already received commitment of $200 million from Abu Dhabi Investment Authority (ADIA) to mark the first close of the fund. ADIA is one of the two sovereign wealth funds of UAE representing Abu Dhabi and an active investor in India through public market deals.

V Hari Krishna, director, Kotak Realty Fund, said the firm is looking to raise $400 million from overseas investors but declined to share details of other LPs it is in negotiations with for the rest of the fund.

He said the fund will invest an average of $15-20 million in each project and that it will put in money from the first close in 10-12 projects.

The fund is looking to generate an IRR of 20 per cent for investors of the new fund.

The Kotak Mahindra group has invested $30 million in the fund. Kotak Realty Fund will be investing in projects across Delhi, Mumbai, Bangalore and Pune. It will mark investments purely in the residential segment and it has already started vetting deals to invest from the money it has raised. Source

 

Tags: Private Equity, Private Equity fund, Private Equity investment, Real Estate, Real Estate investment, Private Equity Real Estate, Kotak Realty Fund, Offshore Fund, Real Estate Private Equity fund, Kotak Mahindra Group, VCCircle, Abu Dhabi Investment Authority, ADIA, UAE, V Hari Krishna, The Kotak Mahindra group, Delhi, Mumbai, Bangalore, Pune.


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