Fairfax-backed IIFL Finance to raise $152 mn via share sale amid ban on gold loans
India's IIFL Finance will raise 12.72 billion rupees ($152 million) by selling shares, the non-bank lender said on Wednesday, aiming to shore up capital a month after the central bank barred it from offering gold loans. In mid-March, IIFL had said it would raise up to 15 billion rupees via a ......
Convergent Finance onboards ex-Wabi exec to bolster food & beverage portfolio
Homegrown private equity player Convergent Finance LLP, a backer of Indian names like Hindustan Foods, Jagsonpal, Agilitas, ADF Foods, Camlin Fine Sciences, Onward Tech and Fly91, has roped in a former Wabi Capital executive on its team. The PE firm, led by industry veteran and former Fairfax executive Harsha Raghavan, has ......
VC-backed Aye Finance set to secure $30 mn in fresh capital
Aye Finance, a non-banking finance company (NBFC), is set to raise $30 million (about Rs 250 crore) in fresh capital from a marquee foreign institution that has backed it in the past. The NBFC, which lends to micro, small and medium sector enterprises (MSME) in India, is raising the fresh capital ......
Africa-focused Acre Impact Capital raises $100 mn for first close of debut fund
Acre Impact Capital, an Africa-focused private-debt impact investment manager, marked the first close of its debut export finance fund to support climate-aligned infrastructure projects in the continent. The London-headquartered investment firm raised $100 million as part of the first close of its Export Finance Fund 1. It secured commitments from a ......
Climatetech startup Ecozen raises $30 mn from Nuveen, others
Cleantech startup Ecozen Friday said it has raised $30 million (Rs 250 crore) in a mix of debt and equity from existing investors, including asset management firm Nuveen. It also raised debt from the InCred Credit Fund and the US International Development Finance Corporation (DFC). The latest funding round will be ......
Pune-based lender Altum Credo snags $40 mn in Series C round
Affordable housing lender Altum Credo has secured $40 million in a Series C round, led by new investors Z3 Partners, Oikocredit as well as UK’s DFI British International Investment. Existing backers also participated in the round. The transaction was a mix of primary ($27 million) and secondary where some existing backers ......
Equirus onboards former Sharekhan BNP exec as MD & COO
Homegrown financial services firm Equirus has appointed former Sharekhan BNP Paribas chief Amit Arora in the capacity of managing director and chief operating officer. At Equirus, Arora will be responsible for strategic initiatives and operational functions, according to a company statement. Having experience of nearly three decades in the field, Arora has ......
Convergent-backed Agilitas Sports acquires exclusive rights for Lotto in India, Australia
Indian sports and athleisure company Agilitas Sports said on Friday it had acquired exclusive rights to design, manufacture, and distribute products of popular Italian sports brand Lotto across India and Australia, with plans to expand to South Africa soon. Agilitas, headed by former Puma India Managing Director Abhishek Ganguly, will buy ......
Deals Digest: Momentum rises this week on the back of some mid-sized deals
Capital raised by startups from private equity and venture capital firms edged up this week, thanks to a bunch of mid-sized transactions valued at over $30 million. Funding volumes, however, rebounded remarkably this week, helping lift overall funding values. The five-day period ended 19 April saw private companies cumulatively raise about ......
Spotlight: Can KKR-backed Hero Future catch up with green energy giants?
Back in 2012, when it was founded, Hero Future Energies (HFE) was one of a handful of renewable energy companies that looked set to dominate India’s wind and solar power landscape. After all, it was backed by the multi-billion-dollar Hero Group that has interests across automotive and electronics manufacturing, financial services ......
