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 ......
Neo Asset to foray into PE with new fund; ropes in ex-TPG NewQuest exec
Neo Asset and Wealth Management, the wealth management arm of Mumbai-based Neo Group, is set to float a private equity (PE) fund as it forays into the asset class after having raised capital for its private credit and infrastructure funds, VCCircle has gathered. The asset manager, whose parent company is backed by ......
TPG-owned Grihum Housing's AUM soars past $1 bn mark in Q1
Non-banking lender Grihum Housing Finance, erstwhile known as Poonawalla Housing Finance, reported a rise in its financial metrics for the first quarter of FY25, with its assets under management scaling the $1 billion milestone. The HFC, which was taken over by TPG in a control style deal in July 2023, reported a ......
Grapevine: TPG may lead edtech firm’s funding; Advent mulls Manjushree monetisation
Eruditus, an Indian edtech startup, is nearing a $150 million funding round led by TPG, a media report said. This would be the largest fundraising by an Indian education firm in recent years. The new investment could value Eruditus at up to $2.3 billion, contingent on achieving performance targets, Techcrunch reported, ......
Grapevine: Temasek nears VFS stake deal; LG Electronics taps banks for India IPO
Temasek Holdings Pte is nearing a deal to acquire a significant minority stake in VFS Global, valuing the visa outsourcing firm at around $7 billion, including debt, a media report said. The Singapore state-owned investor is expected to purchase about 20% of the company, which is majority-owned by Blackstone Inc., Bloomberg reported, citing people ......
Former Omidyar, TPG execs wind up VC firm as fundraising stalls
A venture capital firm launched by former executives of Omidyar Network India and TPG Growth has winded up its operations after facing challenges in raising funds, two people aware of the development told VCCircle. The fund, which had received SEBI licence for operating its CAT-II alternative investment fund (AIF) in March last year under ......
Grapevine: Three firms make cut for Avendus; suitors line up for HUL ice-cream unit
Carlyle, Premji Invest, and Japan's Mizuho Financial Group are vying to acquire a controlling stake in Avendus Capital, currently owned by KKR, a media report said. The three bidders advanced after an initial round of screening, which also saw interest from private equity players TPG Capital and TA Associates. Due diligence is underway, with final offers expected by the ......
Indian, global PE firms plan food service platforms, encircle QSR players
A number of foreign and Indian private equity firms are approaching quick-service restaurant (QSR) brands in several categories as they explore the possibility of separately creating food service platforms in the country, three people aware of the developments told VCCircle. The PE firms are likely to invest in larger brands to ......
Grihum Housing's Manish Jaiswal on changes under PE ownership, growth and more
A year ago, private equity major TPG acquired the erstwhile Poonawalla Housing Finance for a pre-money equity valuation of Rs 3,900 crore (around $464 million), making it one of the largest deals in the affordable housing segment. In the following months, the PE firm rebranded the company as Grihum Housing ......
Shriram General Insurance’s CEO on upsizing non-motor book, IPO plans and more
Over two years ago, private equity major KKR acquired a 9.99% stake in Shriram General Insurance for Rs 1,800 crore. Since then, the company’s gross written premium has grown by over 70%, with the number of live policies standing at a tall 6.3 million. As an indication of confidence over the ......
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