Grapevine: JSW Neo, Macquarie in race for Ayana; EDBI may invest in Mohalla Tech
JSW Neo Energy and Sekura Energy, alongside Masdar, Sembcorp, and Macquarie, have made non-binding offers for a controlling stake in Ayana Renewable Power, majority owned by the National Investment and Infrastructure Fund (NIIF), a media report said. NIIF is poised to move forward by shortlisting suitors over the coming weeks. Subsequently, two, or at most ......
Grapevine: Bain, Temasek team up for Haldiram bid; ONGC, NTPC Green Energy eye Ayana
Bain Capital and Singapore's Temasek have joined forces to compete with a Blackstone-led consortium for a controlling stake in Haldiram's Snacks Food Pvt Ltd, a media report said. The Bain-Temasek partnership submitted a non-binding offer last week, valuing the Indian snack giant at $8-8.5 billion, The Economic Times reported, citing people familiar with the matter. Bain had ......
Singapore VC firm Golden Gate Ventures rolls out $100-mn MENA fund
Golden Gate Ventures, a Singapore-based early-stage venture capital firm that manages assets worth $250 million across three continents, has launched a Middle East and North Africa–focused investment vehicle in Qatar. The Southeast Asian VC firm launched the MENA fund with a $100 million target and secured commitments worth $20 million from ......
Dubai's DFDF plans to deploy half corpus by this year across direct, fund-of-fund bets
Dubai Future District Fund (DFDF), the region’s first evergreen venture capital fund-of-fund, aims to hit the halfway mark of its initial corpus in terms of deployment by the end of the current year, three years since its launch, according to a top company executive. Eyeing startups in the generative AI, climatetech ......
Deals Digest: Funding value surges on back of big-ticket financial services deal
Private equity (PE) and venture capital (VC) investment saw a substantial jump in terms of value, propelled by a large PE investment in the financial services space. Deal volume, however, dipped slightly this week with the overall number reducing by three deals as compared to the week before. Startups this week raised ......
Bottomline: How PlasmaGen Bio plans to break its streak of revenue stagnancy
Bengaluru-based biopharmaceutical company PlasmaGen Biosciences Pvt. Ltd, backed by venture capital firm Eight Roads Ventures, is poised to break out from a stagnant revenue run-rate, as it shifts towards majority in-house manufacturing, top company officials informed VCCircle. While the company’s topline has been stuck in the range of Rs 100-110 crore ......
Grapevine: Reliance Retail mulls entry into diagnostics; TPG, OTPP compete for Altimetrik
Reliance Retail Ventures, owned by Mukesh Ambani, is gearing up for a foray into the lucrative $150 billion (Rs 12.5 trillion) diagnostic healthcare market, a media report said. There are plans for a strategic move involving the acquisition of a majority stake in a specialized diagnostic services firm, with investment ranging ......
Grapevine: CX Partners starts Veeda Clinical sale process; Ola CEO departs amid job cuts
CX Partners, a mid-market private equity firm, has started the process to divest its majority stake in Veeda Clinical Research, an independent clinical research organization based in Ahmedabad, a media report said. The anticipated valuation of Veeda Clinical Research is between $600 million (Rs 5,000 crore) to $650 million, Moneycontrol reported, citing ......
MENA Digest: Egyptian startups lead funding activity
Egyptian fintech startups Swypex and MNZL led funding activities in the Middle East and North Africa region,, even as overall deals activity remained bleak this week. The two startups raised seed funding, while the UAE-based Edtech startup SecureMyScholarship raised a bridge round. Startup funding in the MENA region fell sharply in ......
Grapevine: EQT to pare stake in Sagility; Piramal-Bain JV India RF eyes stake in Anthea
Swedish private equity firm EQT is moving forward with plans to reduce its stake in Sagility (erstwhile Hinduja Global Solutions Healthcare), by initiating a initial public offering (IPO) process, a media report said. The IPO is expected to value the healthcare business process management (BPM) firm at approximately $3 billion (25,000 crore), ......
