Bain Capital to lead $1.8 bn fund infusion in Axis Bank
US-based global alternative investment firm Bain Capital, state-run Life Insurance Corporation and investment management firm Capital Group will acquire Axis Bank shares and convertible warrants worth a total of Rs 11,626 crore ($1.8 billion).Mumbai-based Axis Bank will issue 172.6 million fresh preference shares and 45.4 million warrants (carrying an option ......
UK’s Stride Gaming picks up 51% stake in online gaming startup RummyPassion
Haryana-based Passion Gaming Pvt. Ltd, which owns RummyPassion.com, has divested a 51% stake to UK-based Stride Gaming Plc for...
Aavishkaar trims size of South and Southeast Asia-focused Frontier Fund
Impact investment firm Aavishkaar Venture Management has trimmed the target corpus of a fund that invests mainly in South and Southeast Asia, a top executive told VCCircle.The firm, which backs enterprises working in rural areas and those targeting the poor, had floated the Aavishkaar Frontier Fund in 2013 and hit ......
Two senior executives resign from Snapdeal’s Bangalore centre
Balaji Hariharan & Hemanth KotaE-commerce firm Snapdeal, owned by Jasper Infotech Pvt. Ltd, continues to see senior-level churn.This time, the company's two associate vice presidents Balaji Hariharan and Hemanth Kota have resigned, a report in The Economic Times stated citing people aware of the development.Hariharan served as the head ......
Matrix, Accel back student accommodation startup Stanza Living
Delhi-based Dtwelve Spaces Pvt. Ltd, which operates student accommodation platform Stanza Living, has raised an undisclosed amount in its first round of institutional funding co-led by Matrix Partners and Accel, a press statement said.The company will use the funds to expand its footprint, ramp up its core technology platform and ......
Uber execs travel the globe to soothe regulators’ concerns after controversies
Uber executives are traveling the globe to reassure regulators that the company is changing the way it does business, after a string of controversies hurt the ride-hailing firm’s reputation, its Asian head said on Monday.These comments come on the heels of Uber’s disclosure last week that it covered up a ......
Bitcoin slips after rapid ascent to $11,000
Bitcoin zoomed past $11,000 (£8,185.5) to hit a record high for the sixth day in a row on Wednesday after gaining more than $1,000 in just 12 hours, stoking concerns that a rapidly swelling bubble could be set to burst in spectacular fashion.After soaring more than 1,000 percent since the ......
Telecom regulator TRAI bats for net neutrality with own recommendations
India’s telecom regulator has made recommendations to ensure an open internet in the country and prevent any discrimination in internet access in a long-awaited report, after debating the issue of net neutrality for more than a year.The Telecom Regulatory Authority of India (TRAI) said it was not in favour of ......
Gul Panag-cofounded health and fitness startup MobieFit raises $1.35 mn
Health and fitness startup MobieFit, co-founded by actress, activist and fitness advocate Gul Panag, has raised $1.35 million...
VC-backed FMCG contract manufacturer buys Reckitt Benckiser factory
Hindustan Foods Ltd, the vendor-manufacturer of PepsiCo Inc’s Kurkure brand of snacks, has acquired a manufacturing facility of a global consumer goods major, one person with direct knowledge of the development told VCCircle.Hindustan Foods, which is backed by consumer-centric venture firm Sixth Sense Ventures, has acquired the Jammu-based manufacturing facility ......
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