Bain, GIC, Elevation Capital monetize India bets; QIA in new deal; Nykaa plans an exit

Trouble viewing this email? [View in web browser](=/0/aHR0cHM6Ly9hc3NldHMudmNjaXJjbGUuY29tL25ld3NsZXR0ZXIvMjAyNC8wNi9kYWlseS92Y2MtZGFpbHktbmV3c2xldHRlci0yMDI0LTA2LTEzLmh0bWw=/666b0d92251525baa3043988-20240613) [VCCircle](=/1/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/666b0d92251525baa3043988-20240613) Thursday, 13 Jun 2024 =/2/aHR0cHM6Ly9scHN1bW1pdC52Y2NldmVudHMuY29tL2R1YmFpLw==/666b0d92251525baa3043988-20240613 =/3/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2VsZXZhdGlvbnNpZ25pbmctb2ZmLWZyb20tZGVjYWRlLW9sZC1iZXQtd2l0aC1vdmVyLTEwMC1tbg==/666b0d92251525baa3043988-20240613 Venture Capital [Elevation signs off from decade-old bet with over $100 mn](=/4/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2VsZXZhdGlvbnNpZ25pbmctb2ZmLWZyb20tZGVjYWRlLW9sZC1iZXQtd2l0aC1vdmVyLTEwMC1tbg==/666b0d92251525baa3043988-20240613) Venture capital firm Elevation Capital, one of the most active investors in Indian technology startups over the last decade, has virtually signed off ...... [Read more](=/5/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2VsZXZhdGlvbnNpZ25pbmctb2ZmLWZyb20tZGVjYWRlLW9sZC1iZXQtd2l0aC1vdmVyLTEwMC1tbg==/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- Private Equity [Bain Capital logs out of another India bet with modest returns](=/6/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JhaW5jYXBpdGFsLWxvZ3Mtb3V0LW9mLWFub3RoZXItaW5kaWEtYmV0LXdpdGgtbW9kZXN0LXJldHVybnM=/666b0d92251525baa3043988-20240613) Bain Capital, a bulge-bracket global private equity firm which was particularly active in India last year having struck three new deals and as many ...... [Read more](=/7/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JhaW5jYXBpdGFsLWxvZ3Mtb3V0LW9mLWFub3RoZXItaW5kaWEtYmV0LXdpdGgtbW9kZXN0LXJldHVybnM=/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- Private Equity [GIC completes exit from India infra portfolio with over $1.5 bn in bag](=/8/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dpY2NvbXBsZXRlcy1leGl0LWZyb20taW5kaWEtaW5mcmEtcG9ydGZvbGlvLXdpdGgtb3Zlci0xLTUtYm4taW4tYmFn/666b0d92251525baa3043988-20240613) Three months after first making a move to monetise a five-year-old India bet, Singapore sovereign wealth fund GIC has fully exited an infrastructure ...... [Read more](=/9/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dpY2NvbXBsZXRlcy1leGl0LWZyb20taW5kaWEtaW5mcmEtcG9ydGZvbGlvLXdpdGgtb3Zlci0xLTUtYm4taW4tYmFn/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- =/10/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL255a2Fhc2NvdXRzLWZvci1idXllcnMtdG8tZXhpdC10d28teWVhci1vbGQtYmV0LW9uLWJlYXV0eS1jYXJlLWJyYW5k/666b0d92251525baa3043988-20240613 Venture Capital [Nykaa scouts for buyers to exit two-year-old bet on beauty care brand](=/11/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL255a2Fhc2NvdXRzLWZvci1idXllcnMtdG8tZXhpdC10d28teWVhci1vbGQtYmV0LW9uLWJlYXV0eS1jYXJlLWJyYW5k/666b0d92251525baa3043988-20240613) FSN E-Commerce Ventures, which runs cosmetics-to-fashion retailer Nykaa, plans to exit one its portfolio companies in the beauty and personal care ...... [Read more](=/12/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL255a2Fhc2NvdXRzLWZvci1idXllcnMtdG8tZXhpdC10d28teWVhci1vbGQtYmV0LW9uLWJlYXV0eS1jYXJlLWJyYW5k/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- Private Equity [Qatar Investment Authority coming as key backer in India housing finance PE buyout](=/13/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3FhdGFyaW52ZXN0bWVudC1hdXRob3JpdHktY29taW5nLWFzLWtleS1iYWNrZXItaW4taW5kaWEtaG91c2luZy1maW5hbmNlLXBlLWJ1eW91dA==/666b0d92251525baa3043988-20240613) Qatar Investment Authority (QIA), the Gulf nation’s sovereign wealth fund that has invested across technology, renewable energy, retail and ...... [Read more](=/14/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3FhdGFyaW52ZXN0bWVudC1hdXRob3JpdHktY29taW5nLWFzLWtleS1iYWNrZXItaW4taW5kaWEtaG91c2luZy1maW5hbmNlLXBlLWJ1eW91dA==/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- Venture Capital [Pavestone VC ropes in pi Ventures’ backer as LP for its maiden fund](=/15/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3BhdmVzdG9uZXZjLXJvcGVzLWluLXBpLXZlbnR1cmVzLWJhY2tlci1hcy1scC1mb3ItaXRzLW1haWRlbi1mdW5k/666b0d92251525baa3043988-20240613) Hyderabad-based venture capital firm Pavestone VC, which is raising Rs 900 crore for its maiden investment vehicle launched in July 2021, has tapped ...... [Read more](=/16/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3BhdmVzdG9uZXZjLXJvcGVzLWluLXBpLXZlbnR1cmVzLWJhY2tlci1hcy1scC1mb3ItaXRzLW1haWRlbi1mdW5k/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- Venture Capital [Facebook's first female engineer to launch India VC fund via South Park Commons](=/17/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZhY2Vib29rcy1maXJzdC1mZW1hbGUtZW5naW5lZXItdG8tbGF1bmNoLWluZGlhLXZjLWZ1bmQtdmlhLXNvdXRoLXBhcmstY29tbW9ucw==/666b0d92251525baa3043988-20240613) South Park Commons (SPC), founded by Aditya Agarwal and Ruchi Sanghvi, Facebook’s first female engineer, has teamed up with Flipkart’s co-founder ...... [Read more](=/18/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZhY2Vib29rcy1maXJzdC1mZW1hbGUtZW5naW5lZXItdG8tbGF1bmNoLWluZGlhLXZjLWZ1bmQtdmlhLXNvdXRoLXBhcmstY29tbW9ucw==/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- Venture Capital [How Renee Cosmetics’ valuation changed in internal VC funding round](=/19/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd3JlbmVlLWNvc21ldGljcy12YWx1YXRpb24tY2hhbmdlZC1pbi1pbnRlcm5hbC12Yy1mdW5kaW5nLXJvdW5k/666b0d92251525baa3043988-20240613) Beauty care products maker Renee Cosmetics Pvt. Ltd has topped up its Series B funding round with cheques from existing investors, marking an almost ...... [Read more](=/20/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd3JlbmVlLWNvc21ldGljcy12YWx1YXRpb24tY2hhbmdlZC1pbi1pbnRlcm5hbC12Yy1mdW5kaW5nLXJvdW5k/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- =/21/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd3dhc2V0bW9uZXl2YWx1ZWQtaW4tY29udHJvbC1kZWFsLWJ5LWJhaW4tYmFja2VkLTM2MC1vbmU=/666b0d92251525baa3043988-20240613 M&A [How was ET Money valued in control deal by Bain-backed 360 One?](=/22/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd3dhc2V0bW9uZXl2YWx1ZWQtaW4tY29udHJvbC1kZWFsLWJ5LWJhaW4tYmFja2VkLTM2MC1vbmU=/666b0d92251525baa3043988-20240613) 360 One WAM Ltd has agreed to acquire wealth management platform ET Money in a deal that will pitch it against the likes of Cred-owned Kuvera as well ...... [Read more](=/23/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd3dhc2V0bW9uZXl2YWx1ZWQtaW4tY29udHJvbC1kZWFsLWJ5LWJhaW4tYmFja2VkLTM2MC1vbmU=/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- M&A [Suven Pharma to acquire majority stake in Sapala Organics for $27 mn](=/24/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3N1dmVucGhhcm1hLXRvLWFjcXVpcmUtbWFqb3JpdHktc3Rha2UtaW4tc2FwYWxhLW9yZ2FuaWNzLWZvci0yNy1tbg==/666b0d92251525baa3043988-20240613) Private equity giant Advent-owned contract development and manufacturing organization (CDMO) Suven Pharma has entered into a definitive agreement to ...... [Read more](=/25/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3N1dmVucGhhcm1hLXRvLWFjcXVpcmUtbWFqb3JpdHktc3Rha2UtaW4tc2FwYWxhLW9yZ2FuaWNzLWZvci0yNy1tbg==/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- Venture Capital [Trampoline, four others raise early-stage funding](=/26/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGlncmlkdGVjaG5vbG9neS1jcmVtZS1jYXN0bGUtcmFpc2UtZWFybHktc3RhZ2UtZnVuZGluZw==/666b0d92251525baa3043988-20240613) Home decor brand Trampoline, electric vehicle (EV) components maker Indigrid Technologies, bakery brand Crème Castle, gen AI platform Rampp.ai and ...... [Read more](=/27/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGlncmlkdGVjaG5vbG9neS1jcmVtZS1jYXN0bGUtcmFpc2UtZWFybHktc3RhZ2UtZnVuZGluZw==/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- TMT [Reliance's Jio Platforms gets space regulator's nod to launch satellite internet](=/28/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3JlbGlhbmNlcy1qaW8tcGxhdGZvcm1zLWdldHMtc3BhY2UtcmVndWxhdG9yLXMtbm9kLXRvLWxhdW5jaC1zYXRlbGxpdGUtaW50ZXJuZXQ=/666b0d92251525baa3043988-20240613) A joint venture between Reliance Industries' Jio Platforms and Luxembourg-based SES to provide gigabit fibre internet has won approval from the ...... [Read more](=/29/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3JlbGlhbmNlcy1qaW8tcGxhdGZvcm1zLWdldHMtc3BhY2UtcmVndWxhdG9yLXMtbm9kLXRvLWxhdW5jaC1zYXRlbGxpdGUtaW50ZXJuZXQ=/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- Venture Capital [Manufacturing firms Indkal, Ethereal Machines snag big Series A cheques](=/30/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGthbHRlY2hub2xvZ2llcy1ldGhlcmVhbC1tYWNoaW5lcy1zbmFnLXNlcmllcy1hLWNoZXF1ZXM=/666b0d92251525baa3043988-20240613) Consumer electronics manufacturer Indkal Technologies and precision engineering components maker Ethereal Machines have raised Series A rounds, the ...... [Read more](=/31/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGthbHRlY2hub2xvZ2llcy1ldGhlcmVhbC1tYWNoaW5lcy1zbmFnLXNlcmllcy1hLWNoZXF1ZXM=/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- M&A [Adani-owned Ambuja Cements buys south Indian rival for $1.25 bn](=/32/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FkYW5pb3duZWQtYW1idWphLWNlbWVudHMtYnV5cy1zb3V0aC1pbmRpYW4tcml2YWwtZm9yLTEtMjUtYm4=/666b0d92251525baa3043988-20240613) India's Ambuja Cements said on Thursday that it has acquired Penna Cement Industries for an enterprise value of 104.22 billion rupees ($1.25 ...... [Read more](=/33/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FkYW5pb3duZWQtYW1idWphLWNlbWVudHMtYnV5cy1zb3V0aC1pbmRpYW4tcml2YWwtZm9yLTEtMjUtYm4=/666b0d92251525baa3043988-20240613) --------------------------------------------------------------- General [Grapevine: Haldiram Snacks mulls IPO; Adanis eye cement plants](=/34/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZWhhbGRpcmFtLXNuYWNrcy1tdWxscy1pcG8tYWRhbmlzLWV5ZS1jZW1lbnQtcGxhbnRz/666b0d92251525baa3043988-20240613) Haldiram Snacks Pvt Ltd is considering an initial public offering (IPO) after promoters’ plan to sell the company to foreign investors hit a ...... 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