Tracking Deals

Swiggy raises ₹520 crore

Naspers, a leading global technology investor, has led a ₹520 crore ($80 million) Series E round in online food ordering and delivery platform Swiggy. The money will help boost Swiggy’s growth plans. Founded in 2014, Swiggy has attracted over 12,000 restaurants to its platform.

Alibaba picks stake in TicketNew

Alibaba Pictures, part of the Alibaba Group of China, will invest ₹120 crore over a period of time in Chennai-based online ticket booking platform TicketNew, in which the Chinese company has bought a majority stake. The TicketNew buy is Alibaba Pictures’ first major acquisition in the growing internet ticket booking industry outside of China. The investment will strengthen TicketNew’s operations and service portfolio. TicketNew has a presence in over 300 cities in India.

Matrix Partners invests in Loadshare

Matrix Partners India has invested an undisclosed amount in logistics tech start-up Loadshare Networks. The company will use the money to expand the team and build a technology platform for logistics SMEs that are adopting technology to improve their operations.

KKR closes $9.3-b Asia Fund III

Global investment firm KKR has announced the final closing of the KKR Asian Fund III, a $9.3-billion fund focussed on private equity investments in the Asia-Pacific region. The new fund surpasses KKR’s $6-billion Asian Fund II. It received strong backing from a diverse group of new and existing global investors, including public and corporate pensions, sovereign wealth funds, insurance companies, endowments, family offices and wealthy individuals. KKR’s Asia Pacific private equity platform invests across both traditional control transactions and growth equity stakes in companies.

Since opening its first Asia-Pacific office in 2006, KKR has invested over $12 billion in pan-Asia private equity investments in about 55 companies across 10 countries. Fund II has been fully deployed and has generated a net internal rate of return of 20.6 per cent and a net multiple of 1.3 times as of March 31, 2017.

Helion’s Rahul Chandra launches ₹650-cr fund

Rahul Chandra, Managing Director of venture capital firm Helion Ventures, has launched a ₹650 crore ($100 million) early-stage fund. The new fund, Unitary Helion, will invest ₹13-32 crore ($2-5 million) in 18-20 start-ups over the next two years. It is now looking at about 30 ventures in areas such as financial technology, agri-finance and logistics. The new fund has investors from the US, Hong Kong and Singapore and looks to achieve first close of ₹260 crore ($40 million) in October.

Fairfax buys out GVK in BIAL

Fairfax India Holdings will pay ₹1,290 crore ($200 million) to buy out GVK Power and Infrastructure’s residual 10 per cent stake in Bangalore International Airport Ltd. Fairfax had previously acquired a 33 per cent stake in the company for ₹2,202 crore ($336.18 million).

Fairfax sells 12.18% in ICICI Lombard

Canada-based Fairfax Financial Holdings has sold a 12.18 per cent stake in ICICI Lombard General Insurance to a number of investors, including Warburg Pincus, Tamarind Capital Pte and IIFL Special Opportunities Fund, for ₹2,473 crore. This deal values ICICI Lombard at ₹20,303 crore. Fairfax had increased its stake in the general insurer in 2015 to 35 per cent by picking up an additional 9 per cent stake for about ₹1,600 crore, valuing the company at ₹17,225 crore.

Niyogin Fintech to raise ₹235 crore

Niyogin Fintech Ltd, a non-banking finance company, will raise up to ₹235 crore by issuing preferential shares to a group of investors, including Ward Ferry, Lucky Investment Managers, Sabre Capital, Alchemy Capital and Alchemy India Long Term Fund. Niyogin will focus on SME and MSME segments.

BitcoinGrowthFund raises ₹95 crore

BitcoinGrowthFund, a blockchain based start-up fund for the venture capital industry, has raised about ₹95 crore ($14.5 million) in its first round from retail investors through an Initial Coin Offering (ICO). The fund is looking to raise another ₹300 crore ($45 million) in the second round. About half of the retail investment came from India, followed by China at 35 per cent and South Korea at 15 per cent. The minimum amount for retail investors was $5. The Dubai-based BitcoinGrowthFund was earlier looking to raise about ₹225 crore ($32 million) through an ICO.

Piramal Finance invests ₹565 cr in two auto component cos

Piramal Finance Ltd has invested in the automobile components space through two deals totalling ₹565 crore. It has invested ₹275 crore in RSB Group, which makes propeller shafts, gears, axles and machined products, and ₹290 crore in Indoshell Mould Ltd, which makes precision cast parts for the two-wheeler industry. Our Bureau

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