Ankit Agarwal

Narinder Kapur

Joseph Rai

Deal-making in the Indian investment ecosystem during the third week of February was lifted by two big transactions in infrastructure and fintech segments.

In the infrastructure deal, Adani Ports and Special Economic Zone Ltd acquired Dighi Port Ltd under the bankruptcy law for Rs 650 crore (around $89 million) to record the top M&amp;A during the week. APSEZ also plans to invest over Rs 10,000 crore to develop the entity into a multi-cargo port.

The deal is a huge haircut for the lenders that claim dues worth Rs 3,098 crore from Dighi Port.

<img alt="" class="alignnone size-full img-responsive" src="https://assets.vccircle.com/uploads/2021/02/TOPMAs-.png" width="100%" />

The fintech transaction was the second biggest deal of the week. As part of that, <a href="https://www.vccircle.com/premji-mirae-others-invest-in-kreditbee-xiaomi-exits-shunwei-pares-stake/" target="_blank">KreditBee</a> raised a $75 million (around Rs 544 crore) <a href="https://www.vccircle.com/premji-mirae-others-invest-in-kreditbee-xiaomi-exits-shunwei-pares-stake/" target="_blank">Series C round</a> to record the top PE funding during the week. Participants in the exercise included PremjiInvest and Mirae Asset Naver Asia Growth Fund.

Under the deal, Chinese smart devices manufacturer Xiaomi exited the company, while Beijing-based Shunwei Capital pared its stake in Benglauru-based KreditBee.

In the second-biggest M&amp;A for the week, the Indian unit of the United States-based Pfaudler Inc completed the acquisition of a majority stake in parent company Pfaudler Group from a German private equity firm for $27.4 million.

Next came a transaction from the IT segment as part of which HCL Infotech struck a $20 million deal for Gibraltar Technologies.&nbsp;

Other top M&amp;As pertained to the startup space: Unacademy and Open bought TapChief and Optobizz, respectively.

Coming to the PE sector, the chart was populated by deals in the consumer sector. Nalanda Capital invested in TCNS Clothing Co Ltd, which owns the &lsquo;W&rsquo; brand of womenswear.&nbsp;

<img alt="" class="alignnone size-full img-responsive" src="https://assets.vccircle.com/uploads/2021/02/TopPE.png" width="100%" />

And Harsha Raghavan-led Convergent Finance LLP picked up a 2.5% stake in listed ADF Foods Ltd, bringing its total holding to 12.5%. It made its latest investment for around Rs 32 crore.

In other PE deals, water-technology company VA Tech Wabag raised funding from Kathari Water Management Pvt Ltd, a wholly owned subsidiary of EverSource Capital, the fund manager for Green Growth Equity Fund.

In venture capital and angel deals, the top transaction this week came from Shiprocket, which <a href="https://www.vccircle.com/shiprocket-raises-extended-series-c-round-led-by-tribe-capital-march-capital/" target="_blank">raised $27 million</a> (Rs 200 crore) in an extended Series C round of funding. The round was co-led by returning investor Tribe Capital and new backer March Capital.

DST Global partner Rahul Mehta participated in the round alongside Bertelsmann India Investments.

<img alt="" class="alignnone size-full img-responsive" src="https://assets.vccircle.com/uploads/2021/02/TopVC.png" width="100%" />

Zolve, a cross-border neo-bank, took second place with a $15 million seed round led by Accel and Lightspeed.

Shared scooter rental startup Vogo raked in $11.5 million from existing investors in an extension of its Series C round. Leverage Edu raised $6.5 million in a Tomorrow Capital-led Series A round, while eBikeGo and Uptime AI raised $1.5 million each.

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Weekly Deal Wrap: Dighi Port and KreditBee soak up money, attention

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