Former TPG NewQuest exec floats PE fund for growth stage bets
A former senior executive of TPG NewQuest, which has invested in companies such as ShadowFax, Halonix Technologies, and U Gro Capital, among others, has floated a new firm that will make investments across startups, growth stage companies, and public firms, VCCircle has learned. TPG NewQuest is a part of private equity firm TPG. Sachin ......
Grapevine: Aragen Life, Urban Company investors weigh stake sale
Promoters and investors in Aragen Life Sciences, the Goldman Sachs-backed contract research organisation (CRO), plan to sell a 10% stake in a pre-IPO round, valuing the company at Rs 10,000-12,000 crore ($1.5 billion), a media report said. Potential investors, including Quadria Capital and Denmark-based pharmaceutical firm Novo Nordisk, are in early talks for a minority stake, ......
Xponentia-backed The Souled Store back to profit as product mix, lesser marketing spends pay off
Direct-to-consumer pop-culture apparel brand The Souled Store, which is backed by venture capital firm Elevation Capital and growth-stage investor Xponentia Capital Partners, bounced back into the black for FY24, a senior executive told VCCircle. The Mumbai-based company's net profit likely jumped to Rs 10-15 crore in 2023-24, compared with a loss of ......
PE firms mull buying stake in Apex Hospitals as existing backer seeks exit
Rajasthan-based Apex Hospitals Pvt. Ltd is being evaluated by multiple private equity players for a potential stake buy, as current investor Somerset Indus Capital Partners seeks a full exit from the five-year old investment, it is learnt. According to at least two people aware of the development, mid-market healthcare-focussed PE firms ......
NIIF-controlled iBus gets new backer on board as another PE investor checks out
Digital infrastructure provider iBus Network and Infrastructure Pvt Ltd has brought on board International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, as a new investor. IFC has invested Rs 280 crore ($34 million) to pick up a minority stake in iBus, providing an exit to some ......
EQT-backed CitiusTech plans return to M&A street for European expansion
Healthtech firm CitiusTech is looking at possible acquisition targets to expand its business in Europe, as the company that counts Swedish private equity firm EQT as an investor returns to M&A street after a two-year gap. CitiusTech acquired one company each in 2020, 2021 and 2022 but went quiet thereafter as ......
Shell-backed Orb Energy starts Series D fundraising, aims $48 mn
British oil major Shell-backed Orb Energy, which is an integrated solar energy solutions provider, has initiated the process for its Series D round of funding, a top executive told VCCircle. The Bengaluru-based company, which provides end-to-end solar power solutions, including manufacturing, designing, installing, servicing and financing of solar panels for its ......
Grapevine: Nomura joins race for Avendus; Adani Wilmar owners to pare stake
Nomura, Japan's largest investment bank, has entered the race to acquire Indian investment bank Avendus, shifting from its role as an advisor to a potential bidder, a media report said. The sale has drawn interest from Japan’s Mizuho and the US buyout firm Carlyle. KKR, which holds a 63% stake, is seeking a valuation of Rs ......
Bottomline: PE-backed IndiQube comes within stone's throw of FY24 revenue target
WestBridge Capital-backed flexible office space provider IndiQube, which was believed to be in talks with bankers for a public listing, saw an over 40% jump in its revenue from operations during the last fiscal, it is learnt. The flexible office provider, founded by Rishi Das and Meghna Agarwal, had plans to ......
Equirus’ I-banking unit bounces back but institutional broking retains edge
Financial services firm Equirus Capital’s revenue jumped and profit doubled for the year through March 2024, as a stock market rally and a boom in initial public offerings helped its investment banking and institutional broking businesses. Mumbai-based Equirus, which counts Rekha Jhunjhunwala — wife of the late stock market investor Rakesh ......
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