Foreign portfolio investors (FPIs) have lapped up shares in Gurugram-based listed fintech firm PB Fintech, as its founders and early investors sold their shares, in full or in part, in multiple tranches. These transactions happened through bulk deals when several early-stage investors of the company exited the firm fully or partly after 2021, when it went public.
As multiple customers juggled to validate their Groww portfolio on mutual fund transfer agencies CAMS and Kfintech amid concerns, the financial services platform on Monday said some of the customers are not able to see all their investments because there are different registrar and transfer agents (RTAs) for different funds.
HSBC expands offerings for India's affluent diaspora through a virtual bank in GIFT City, leveraging the metaverse. The bank aims to capture a share of the $112.5 billion remittances to India from non-residents. With the hiring of a UBS executive, HSBC eyes the potential $5.5 trillion wealth management industry in India by 2025.
Early-stage venture firm Sorin Investments, founded by veteran dealmaker and former KKR India CEO Sanjay Nayar, made the final close of its maiden fund at Rs 1,350 crore, sources told ET. Through this fund, Sorin will back startups looking to raise Series A funding.
Investments of some Russian funds in select securities that were permitted in a specific way are said to have reduced over a period of time indicating that funds are moving out of such securities, mostly short-term Treasury Bills, said market traders.
In April, private equity and venture capital investments dropped by 35% to USD 4.4 billion compared to USD 6.8 billion in the previous year, as per a report by EY and IVCA. Despite this decline, the number of deals rose by 56%, totaling 98. The caution among investors is attributed to global uncertainties and ongoing Indian general elections. Large deals above USD 100 million decreased by 48% to USD 3.1 billion across nine deals.
Customers using Jupiter can automatically invest with its new Magic spends feature, which lets them invest into mutual funds or digital gold directly on every spends, removing the need to save money to invest. This helps millennials and genz specifically to invest, who have a tendency of overspending online and it also takes care of their financial wellness.
SoftBank Group, based in Tokyo, announces intention to be more assertive in AI and chip venture following profitable second quarter. Net income exceeds expectations with help from investment gains and increase in Arm's stock. CFO Yoshimitsu Goto says the company's net asset value reaches record $178 billion. Founder Masayoshi Son seeks $100 billion for chip venture to rival Nvidia.
SoftBank Group anticipates losses despite Arm Holdings' success, with potential new growth investments. The soaring Arm share price, driven by AI, doesn't directly impact SoftBank's profit. Other listed assets showed mixed performance, influencing SoftBank's financial outlook.
While there has been a funding winter in startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTechs across the globe raised about USD 2.55 billion in April, while the top 20 deals summed up to about USD 1.82 billion.
While there has been a funding winter in fintechs and tech startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTech funding has witnessed a significant drop in the amount raised in the month of April, compared to the previous month.
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