RBI holds repo rate for second straight meet
India's central bank kept its key lending rate steady for a second straight policy meeting on Thursday, as widely expected, but signalled that monetary conditions will remain tight for some time as it looks to further curb inflationary pressures. The monetary policy committee (MPC), which has three members from the Reserve ......
Dubai’s MEVP sets sight on fourth VC fund's early final close, builds deal pipeline
Middle East Venture Partners (MEVP) hopes to wrap up fundraising for its fourth investment vehicle by the end of 2023, a top executive told VCCircle, after the UAE-based venture capital firm hit the fund's first close with oversubscription. The VC firm's fourth fund marked the first close at $70 million as ......
Warburg Pincus-backed Capillary Technologies makes third bet
Software-as-a-service startup Capillary Technologies on Thursday said that it has bought Tenerity’s Digital Connect Assets, marking its third acquisition after over two months. However, the company did not disclose the financial details of the transactions. Capillary Technologies looks to strengthen its position in key markets like US and Europe by leveraging Digital ......
Bottomline: PremjiInvest-backed Mintifi's NBFC arm strengthens financial position
PremjiInvest-backed Mintifi Pvt Ltd’s non-bank lending arm reported a stellar performance in the last financial year, with its income and profit soaring on a higher loan book. Mintifi Finserve Pvt Ltd is the supply chain financing arm of Mintifi, which partners with corporates and offers credit across their distribution network. It ......
Dubai's Al Futtaim Group makes debut India bet with EV maker River
Homegrown electric vehicle manufacturer River on Wednesday said it has raised $15 million (Rs 123 crore) in a funding round led by Dubai-based multinational powerhouse Al Futtaim Group, thus marking its first investment in India. Existing investors Lowercarbon Capital, Toyota Ventures, Maniv Mobility, and Trucks VC also participated in the ......
HealthifyMe snags $30 mn as Finnfund, Dutch investment firm join cap table
Health and fitness app HealthifyMe, operated by HealthifyMe Pte Ltd, on Wednesday said it has secured pre-Series D funding of $30 million (around Rs 247 crore) from a clutch of existing and new investors. Existing backers LeapFrog Investments, Khosla Ventures, Unilever Ventures, Chiratae Ventures, Blume Ventures and HealthQuad made invested in ......
Social impact firms won’t survive if focus is on valuation: C4D Partners’ Agarwal
Dutch impact investment firm C4D Partners is raising its first India-dedicated fund with a target corpus of up to $75 million after deploying its maiden Asia vehicle of $30 million in businesses across India, Indonesia, the Philippines, Nepal, and Cambodia. C4D made 13 investments in India out of its Asia fund, committing about $18 million in the domestic market. It began preparations for the India-focussed fund ......
TPG-backed insurtech startup PolicyBoss pockets Series B cash
Landmark Insurance Brokers Pvt Ltd, which operates the insurtech startup PolicyBoss, has secured Series B funding from investors including India SME Investments and existing investor TPG Growth. Angel investors Madhav Mirani, co-founder of Ugam Solutions, and Jitendra Gupta also joined the round, the startup said in a statement. It didn’t disclose ......
Rupee sees worst month of 2023 on dollar strength
The Indian rupee ended nearly flat on Wednesday, but logged its worst monthly performance so far in 2023, weighed mainly by broad strength in the U.S. currency. The rupee closed at 82.7225 against the dollar, compared with 82.71 on Tuesday. The rupee fell about 1% in May, its worst monthly fall ......
General Atlantic scripting $400-mn India exit
Private equity firm General Atlantic, which last month topped up its investment in the Walmart Inc-owned digital payments firm PhonePe with another $100 million (Rs 820 crore) investment as part of a larger round, has harvested some cash from another local portfolio company. The PE firm, which engages in both late-stage venture capital ......
