CORPORATE CAPITAL VENTURES
Dealmaker DAM Capital Advisors plans public issue
DAM Capital, led by Dharmesh Mehta, targets an IPO within six months, highlighting Mumbai's investment-banking growth. Managed by Nuvama Investment Banking, the IPO includes fresh capital and an offer for sale. DAM Capital, with significant public issues, QIPs, and secondary-market block deals, plans wealth management, PMS, AIF, retail broking to rival ICICI Securities and Motilal Oswal.
Suzuki launches Rs 340 crore investment vehicle Next Bharat Ventures for Indian startups
The company will invest in firms through a residency programme, the first of which will begin this October, with applications starting on Thursday. This will be similar to those run by Antler and Y Combinator.
Spend management startup Dice raises $5 million from Dallas Venture Capital India Fund
Dice, an enterprise spend management startup, has raised $ 5 million in a funding round led by VC firm Dallas Venture Capital. The company will use the fresh capital for its go-to-market initiatives, like strengthening market penetration and customer outreach.
Deepak Parekh-backed Nephro Care's IPO GMP soars to 300% on allotment day. Here's how you can check status
Deepak Parekh-backed Nephro Care's IPO GMP soars to 300% on allotment day. Here's how you can check status
Thyssenkrupp India lines up sustainable aviation fuel foray
Thyssenkrupp Industries India, whose majority shares were recently sold by its German parent company, is set to enter the sustainable aviation fuel (SAF) sector as part of its new business strategy under Indian ownership. Vivek Bhatia, the managing director, informed ET that the capital goods company is currently in the process of finalizing partnerships for its SAF initiative. SAF is an eco-friendly aviation fuel derived from non-petroleum sources, such as forestry and agricultural waste, used cooking oil, carbon captured from the atmosphere, and green hydrogen.
IVCA’s VC Council for 2024–26 to focus on boosting micro-VCs
The IVCA VC Council, led by industry experts, aims to elevate the Indian start-up ecosystem by fostering innovation, supporting micro-VCs.
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Suzlon's independent director Marc Desaedeleer resigns citing governance, transparency issues
Marc Desaedeleer, an independent director at Suzlon Energy, resigned from the board citing concerns about compliance and transparency. He praised the company's performance but expressed disappointment in governance standards and communication. Desaedeleer had raised these issues with the chairman and board members before deciding to step down from his position.
InsuranceDekho in talks to acquire credit marketplace BankSathi: sources
Insurance marketplace InsuranceDekho, backed by investors like TVS Capital and Goldman Sachs Asset Management, will acquire a majority stake in BankSathi, which is a distributor of credit cards and personal loans, two people in the know said.
Baron Capital marks up Swiggy valuation by 25% to $15.1 billion
Swiggy Valuation: Baron Capital, which participated in Swiggy’s $700 million funding round in January 2022 at a valuation of $10.7 billion, has raised the fair value of its holding in Swiggy for the fourth straight time. Crossover funds, i.e. funds which invest in publicly traded and privately held companies, review the valuation of their portfolio companies periodically.
100X.VC invests $2.7 million in 17 startups
100X.VC, a Mumbai venture capitalist firm, injected $2.7 million into 17 startups in their 11th cohort. This brings their total portfolio to 161 companies. Ninad Karpe, founder and partner at 100X.VC, said they invested Rs 1.25 crore in each startup and provided mentorship to help them refine their products and go-to-market strategies.
ONGC to form an equal JV with EverEnviro to build 10 CBG plants
Oil and Natural Gas Corp (ONGC) and EverEnviro Resource Management Pvt Ltd are joining forces to construct 10 compressed biogas (CBG) plants, leveraging various feedstocks to reduce CO2 emissions by 7.5 lakh tons annually. ONGC, transitioning into the renewables sector, plans to establish solar, wind, and biofuel facilities alongside acquiring renewable projects. This strategic partnership signifies a pivotal step towards advancing renewable energy production in India.
NCLAT upholds Adani Goodhomes bid with 93% haircut for Radius Estate
The Insolvency Appellate Tribunal NCLAT upheld its Adani Goodhomes' resolution plan for Radius Estate. NCLAT rejected petitions from two dissenting financial creditors, and approved the plan to provide possession to nearly 700 flat owners without price escalation. The plan was opposed by Beacon Trusteeship and ICICI Prudential Venture Capital Fund Real Estate, who claimed it was unfair, but NCLAT affirmed the Commercial Creditors' Committee's decision.
Zypp Electric raises $15 million from Japanese firm Eneos for India expansion
Zypp Electric confirmed funding from Eneos as part of a larger $40 million round. Existing investors like 9unicorns and IAN also participated in the fundraising. The company's revenue increased threefold to Rs 325 crore in 2023-24.
Here are the key mistakes that founders make at different stages of building startups
When you a building a startup you must know what are the things that could go wrong while launching your dream project. To make it easier for you, we have made a list of mistakes that founders are likely to make at different stages of growth and funding of a startup.
Wipro Consumer VC looks for more follow-on rounds
Sumit Keshan, managing partner of Wipro Consumer Care – Ventures, said the fund's approach has been to invest $1-3 million per deal with a follow-on investment that can go up to $4 million. The second fund will make a portfolio of around 15-16 companies, largely with the same ticket sizes, with a little more focus on follow-on funding, he added.
Out of school, into startups: Young founders are on the rise, ready to even pause studies to chase their entrepreneurial dreams
In 2023, Ayush Pathak and Aryan Sharma founded Induced, assisting businesses in automating workflows with AI. Apoorv Singh launched Connect AI with Asta. Himanshu Rajpurohit's startup, Strangify, provides corporate mental health solutions. Dyumna Madan's ProjectClay helps students find career paths.
Q4 results this week: ITC, ONGC, Sun Pharma, Nykaa, Ircon International and IRFC
ITC, ONGC, IRFC, Ircon International, BHEL, BEL, Sun Pharma, Nykaa, Tata Investment Corporation, Hindalco, Ashok Leyland, and Divi's lab will be releasing their March quarter report cards this week.
Green with Envy: Now ONGC, NTPC arm may bid for Ayana Renewable Power
Oil and Natural Gas Corp (ONGC) is reportedly in discussions with NTPC Green Energy to form a consortium for bidding on Ayana Renewable Power, owned by the National Investment and Infrastructure Fund (NIIF). The enterprise value of Ayana is estimated to be around $2 billion. Other entities like JSW Neo Energy, Sekura Energy, Masdar, Macquarie, and Sembcorp have also shown interest in acquiring a controlling stake in Ayana.
GP Eco Solutions eyes Rs 35 crore via IPO
GP Eco Solutions India Limited (GPES) is planning to raise as much as Rs 35 crore through an Initial Public Offering (IPO) which is expected to hit the markers by month-end, its CEO Deepak Pandey said on Thursday.
ONGC, NTPC Green mull joint bid for NIIF-owned Ayana Renewable Power
ONGC is reportedly in discussions with NTPC Green Energy to jointly bid for Ayana Renewable Power, owned by NIIF. Several potential buyers have submitted non-binding offers for Ayana. ONGC previously announced ONGC Green for renewable projects, while NTPC Green plans an IPO. Ayana focuses on solar and wind energy projects.
VC funding for women-led startups declined in 2023: report
A new report reveals a decline in VC funding for women-led businesses in India. According to WinPe, a non-profit organisation focused on gender diversity in private equity, the share of funding going to female founders dropped to just 9.3% in 2023, compared to 14.7% in 2021.
Ambulances startup Red.Health raises $20 million led by Jungle Ventures
Hyderabad-based startup Red.Health will use the fresh capital to innovate its product, advance its technology, and improve its dispatch system to minimise human errors and optimise response time.
Data collaboration software firm Atlan raises $105 million; valuation nearly doubles to $750 million
Funding led by Singapore's GIC and US-based Meritech Capital values startup at $750 million, up from $450 million in March 2022 when it last raised funds
Deeptech startup Myelin Foundry raises $4 million led by Sidbi Venture Capital
Myelin Foundry secured $4 million with participation from existing investors. The funds will fuel platform development, global expansion, and solidify their edge AI leadership.
VC investment in India doubles to $3.2 billion across 354 deals in March quarter: report
Fintech attracted investor attention in the country though marked by smaller deal sizes with key transactions such as SK Finance ($160 million), and Perfios ($80 million).
Cornerstone Ventures launches second fund with $200 million corpus
The fund will have a 12-year lifecycle. The $200 million fund will offer flexible ticket sizes ranging from $5 million to $15 million in a mix of early- to growth-stage startups. It plans to invest in 15-20 startups with the latest fund.
Exclusive: Chiratae Ventures secures $70 million via portfolio sale as VCs eye exits
Chiratae Ventures sold stakes to Madison India Capital for $70 million, involving companies like Lenskart, Bizongo, and Rentomojo. Madison Capital, supported by Lexington Partners, had invested in Sequoia Capital India's portfolio firms like Star Health.
Startup Mahakumbh: Kant asks startups to focus on corporate governance & right valuations to keep innovating and growing
The former Niti Aayog CEO underscores the importance of self-regulation in the country's startup ecosystem and urges startups to prioritise good governance rather than fixating on achieving high valuations.
Corporate governance, domestic funding key for India to be top startup nation: G20 sherpa Kant
Many startup entrepreneurs, being classic innovators, often prioritise innovation and disruption over corporate governance, he said.
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