Arijit Basu takes over as new MD & CEO of SBI Life Insurance
SBI Life Insurance, the country's largest private life insurer, has appointed Arijit Basu as managing director (MD) and chief executive officer (CEO) of the company, as per a release.Basu, who started his career with State Bank of India (SBI) in 1983, takes over the role of Atanu Sen who retired ......
Fin-tech firm Perfios raises $6.1 mn from Bessemer Venture Partners
Bangalore-based fin-tech firm Perfios Software Solutions Pvt. Ltd has raised $6.1 million (Rs 40 crore) in its Series A round from Bessemer Venture Partners, marking its first institutional funding, a top company executive told VCCircle.The company will use the funds for global expansion, team ramp-up and potential acquisitions, VR Govindarajan, ......
How Alibaba tried snapping up Flipkart last year
Chinese e-commerce behemoth Alibaba had made a failed attempt to buy out Flipkart during the last quarter of 2016 when unsuccessful efforts at raising fresh funds, multiple markdowns and top-level churn had dampened the sentiment around India’s largest e-commerce company. At least four people in the knowledge of this development ......
IFC to invest $25 mn in LeapFrog’s third fund
Emerging markets impact investment firm LeapFrog Investments Ltd has received a commitment of $25 million (Rs 161 crore) from International Finance Corporation, the World Bank’s private-sector investment arm, for its third fund.The fund, LeapFrog Emerging Consumer Fund III, is a 10-year closed-end private equity fund that aims to raise as ......
Health-tech startup Konsult raises seed funding
Delhi-based healthcare tele-consultation platform Konsult App Pvt Ltd has raised $500,000 (Rs 3.25 crore) in two rounds of seed funding from a consortium of investors from the US, the UK, Netherlands and Australia.Koen Bouwers, a board member at flying car company Terrafugia; Lomesh Agarwal of Magic Leap; Jeroen Mensen of ......
Logistics startup ElasticRun raises $7 mn from Kalaari Capital, Norwest Ventures
Pune-based Ntex Transportation Services Pvt Ltd has raised $7 million (Rs 45.5 crore) as part of a Series A round from Kalaari Capital Advisors Pvt Ltd and Norwest Venture Partners.The company, which runs and operates transportation technology startup ElasticRun, will use the proceeds to upgrade its tech infrastructure, on-board talent ......
Motilal Oswal’s housing finance arm in talks with top PE firms
Aspire Home Finance Corporation Ltd, the mortgage lending unit of Motilal Oswal Group, is in discussions with a few marquee private equity firms to raise funds as it looks to expand its loan book and open more branches, a person aware of the development told VCCircle.The three-year-old company has received ......
True North-led consortium to buy out Religare Health Insurance
Diversified financial services group Religare Enterprises has entered into a definitive agreement to sell off its health insurance subsidiary Religare Health Insurance Company Ltd to a consortium of investors led by private equity firm True North Managers LLP.The sale will be subject to necessary regulatory approvals.VCCircle had first reported on ......
Anand Rathi acquires Religare’s wealth management business
Anand Rathi Wealth Management has acquired the wealth management arm of Religare Enterprises Ltd, taking its total ......
Sanjeev Dasgupta named CEO of Ascendas Property Fund
Private equity lender Ascendas India Trust (a-iTrust) today said it has appointed Sanjeev Dasgupta as Chief Executive Officer of Ascendas Property Fund Trustee.Dasgupta, who succeeds Jonathan Yap, will oversee the operations of a-iTrust and its asset, investment management, finance and investor relations activities, the PE firm said in a statement ......
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