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Greenko to raise fresh capital from GIC, ADIA; Sequoia may lead BharatPe’s funding
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Renewable energy major Greenko Energy Holdings Pvt. Ltd is set to raise $550 million (Rs 3,911 crore at current exchange rate) in a new round of funding from existing investors Singapore sovereign wealth fund GIC and Abu Dhabi Investment Authority (ADIA), The Economic Times reported, citing three people aware of the development.

Greenko’s enterprise valuation will be around $5.2 billion with this funding, according to the report.

Both GIC and ADIA have invested heavily in Greenko in recent years. Last year, Greenko had raised $447 million from GIC and ADIA.

In 2017, Greenko had mobilised about $155 million from the two sovereign wealth funds.

GIC holds a majority stake in Hyderabad-based Greenko, which owns and operates renewable energy assets across wind, solar and hydel segments. Its operational capacity is around 4.5 gigawatts, according to its website.

In October last year, Greenko had closed the acquisition of AT Capital-backed Orange Renewable and agreed to acquire Skeiron Green Renewables. Greenko said the two acquisitions will add about 1,300 megawatts of operating and near-completion wind and solar assets.

Separately, payments firm BharatPe is in advanced negotiations to raise around $17 million (Rs 120 crore) in a Series A round of funding that may be led by existing investor Sequoia Capital India, The Economic Times reported.

Citing people aware of the development, the report said BharatPe could be valued at $60-65 million.

In October last year, the company raised seed funding from Sequoia Capital and Singapore-based venture fund Beenext, according to its website. It is also backed by angel investors.

BharatPe enables offline retailers to accept UPI (Unified Payments Interface) payments through the BharatPe QR. It offers merchants a single interface for all UPI apps such as Paytm, PhonePe, Google Pay, BHIM, Mobikwik, Freecharge and Truecaller, and 100 other UPI apps, according to its website.

BharatPe was founded in 2018 by Ashneer Grover, former finance chief at Grofers, and Shashvat Nakrani.

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