US-based hedge fund and venture investor Tiger Global Management is in advanced discussions to invest $5-6 million each in two startups Fyle Technologies Pvt. Ltd and Facilio Inc., The Economic Times reported, citing three people aware of the development.
Fyle is a Bengaluru-based expense management startup backed by Pravega Ventures and Beenext. Atlanta-based Facilio, with operations in Chennai, is a facility management software provider backed by Accel Partners.
Tiger Global, until a few years ago, was one of the most active venture capital investors in Indian companies, having backed unicorns including e-commerce major Flipkart, classifieds platform Quikr and ride-sharing firm Ola. It has drastically slowed its pace of investments over the past couple of years.
Last month, the Financial Times reported that Tiger Global had raised $3.75 billion for its latest venture capital fund, Tiger Global Private Investment Partners XI.
In another development, digital media platform DealStreetAsia reported that private equity firm Lighthouse Funds has expanded the target corpus of its third fund by $40 million.
The mid-market firm has exercised the greenshoe option, thereby taking the total fund size to $240 million. In March, the consumer-focussed firm had marked the first close of the fund at $150 million.
Lighthouse’s third fund has institutional backers, including International Finance Corporation (IFC), which said that it would consider committing up to $45 million.
The investment firm had raised $100 million in its first fund, India 2020 Ltd, in 2008 and about $138 million in its second fund, India 2020 Fund II Ltd, in 2015.
Separately, Bahrain-based private equity firm Investcorp, which is acquiring the PE and real estate business of IDFC Alternatives, is planning to sell investments of the Indian firm that are less than $40 million, two people in the know told Mint.
Investcorp wants to focus on larger investments, the report said.
In April, IDFC Alternatives had agreed to sell its infrastructure business to US-based PE firm Global Infrastructure Partners.
Rishi Kapoor, co-chief executive of Investcorp, said in August that the firm was looking to make its first direct investments in China and India within 12 to 18 months as it increasingly widens its investment focus on Asia.
Meanwhile, consumer-focussed venture capital firm Sixth Sense Ventures has marked the final close of its second fund at Rs 500 crore, The Economic Times reported.
The Ministry of Commerce has made an investment of Rs 50 crore in the fund, the report said.
The ET report stated that the size of the fund was increased to Rs 500 crore on the back of investor interest.
The second fund has invested in companies such as ed-tech firm Eupheus Learning, sports nutrition supplements brand Fast & Up and third-party logistics service provider AVG Logistics.
Sixth Sense Ventures had raised Rs 125 crore for its first fund. It backed 10 companies, including gaming arcade operator Smaaash Entertainment Pvt. Ltd, Hindustan Foods Ltd, JHS Svendgaard Laboratories Pvt. Ltd and hyperlocal logistics service provider Grab.
