Grapevine: Shapoorji Pallonji Group to refinance debt; OrbiMed bets on LifeWell
Shapoorji Pallonji Group has initiated discussions with Power Finance Corporation to secure up to $1.2 billion (Rs 10,017 crore) to refinance a portion of its Rs 20,000-crore debt set to mature in late May, a media report said. SP Group had previously pledged its 18% stake in Tata Sons as collateral for the original loan, ......
Sub-Saharan Africa-focused private debt fund REGMIFA to get another cheque
The Regional MSME Investment Fund for Sub-Saharan Africa (REGMIFA), an open-ended private debt fund focusing on micro, small, and medium enterprises in Sub-Saharan Africa, is likely to secure additional funding from a development finance institution. The Geneva-headquartered REGMIFA, which provides private debt funding in local currency, will likely get a ......
Flutterwave backer LoftyInc courts offshore LP as it aims to quintuple AUM with new Africa VC fund
LoftyInc Capital, a pan-African early-stage venture capital firm, is likely to secure commitment from a European development finance institution for its new investment vehicle. The Lagos-headquartered VC firm is raising the $65-million LoftyInc Alpha Fund that would back tech-enabled enterprises across Africa at seed and Series A stages. It will likely ......
Manipal Hospitals backer Novo Holdings ropes in former IFU exec
Danish investor Novo Holdings, which owns a majority stake in obesity drugmaker Novo Nordisk and manages assets of the Novo Nordisk Foundation, has hired a senior executive from Denmark’s development finance institute, Investment Fund for Developing Countries (IFU). The private equity firm, an investor in hospital chain Manipal Hospitals and healthtech ......
I Squared Capital's smart metering firm bags another big-ticket contract
A company controlled by global private equity fund I Squared Capital has won a major contract to install smart electricity meters in the state of West Bengal. These meters are to be installed under an initiative of the Indian government to help cut losses of power distribution companies (discoms) in the ......
How agritech platform Ecozen was valued after its latest funding round
Agritech and agri infra-focussed startup Ecozen raised $30 million (Rs 250 crore) last month 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). Joining the funding round now ......
PE firm Fipar-Holding teams up with overseas investor to buy Moroccan retail giant
Fipar-Holding, the private equity investment arm of Morocco’s state-owned financial institution, the Caisse de Dépot et de Gestion (CDG), is set to acquire a Moroccan retail giant, co-investing with one of the largest global financial institutions. Fipar, a minority investor in large-scale projects in Morocco, is likely to jointly acquire Rabat-headquartered ......
GEF Capital strikes fresh bet in electric mobility company
Private equity firm GEF Capital has picked up a stake in a homegrown electric mobility solutions player, which is backed by Renuka Ramnath-led Multiples PE. The impact investor led by Raj Pai, which has been a backer of Indian companies like Prince Pipes, Syrma SGS, Premier Energies and Electra EV, among ......
Spotlight: Is the tide turning for Gopalpur Ports as Adani takes control?
A little over a month ago, India’s biggest port operator got a little bigger. Adani Ports and Special Economic Zone Ltd said in late March that it was buying a 95% stake in Odisha-based Gopalpur Ports Ltd (GPL). Adani Ports, part of the Gautam Adani-led eponymous conglomerate, agreed to acquire a ......
Bottomline: Gaja-backed Kinara Capital’s assets under management soar in FY24
Small-business lender Kinara Capital, backed by private equity investors like Gaja Capital, Gawa Capital, the Michael and Susan Dell Foundation, among others, grew its assets under management (AUM) for FY24 by 26% year-on-year, VCCircle has gathered from a top executive at the company. “We are on a growth journey and plan ......
