NIKHIL KAMATH MANYAVAR FAMILY OFFICE
Peak XV, Steadview, and Think Investments line up to fund jewellery retailer Bluestone in pre-IPO round
Jewellery retailer Bluestone is in talks with Peak XV Partners, Steadview Capital, and Think Investments for a $100 million pre-IPO round. The investment is expected to value Bluestone at around $900 million pre-money.
Brands by scions attract VC money; Ola Electric layoffs
Happy Monday! A new wave of brands founded by second generation entrepreneurs is snagging venture capital. This and more in today’s packed edition of ETtech Morning Dispatch.
VC funds take a shine to new gen’s D2C brands
Direct-to-customer (D2C) startups founded by scions of traditional business families are raking in venture funding across sectors like food, apparel, and wellness. Investors see these entrepreneurs' deep understanding of the business and connections in the supply chain ecosystems as a recipe for modernising legacy businesses.
Zerodha’s Nikhil Kamath picks up 7% stake in Infra.Market subsidiary for Rs 166 crore
In December 2023, ET had reported that Infra.Market had sold a 10% stake in RDC Concrete for $20 million to public market investors led by Ashish Rameshchandra Kacholia. The round saw participation from investors such as Capri Global Family Office, Verity Knowledge Solutions CEO Sumeet Kanwar and Abhijeet Pai-led Wear Steels.
Bluestone's unicorn round; Sorin’s Rs 1,350-crore fund
Happy Wednesday! Omnichannel jewellery startup Bluestone is nearing unicorn status with a potential $100-million pre-IPO investment. More on this in today’s ETtech Morning Dispatch.
Bluestone may turn unicorn in pre-IPO funding round
This funding round will more than double ominchannel jewellery retailer Bluestone's valuation from around $450 million in September 2023. Bengaluru-based Bluestone’s pre-IPO round is seeing interest from new and existing investors, encouraged by the Tata Group’s CaratLane deal where Titan bought out the founder’s (Mithun Sacheti) stake last year.
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Stock gaming apps under Sebi scanner; ETtech Done Deals
The capital markets regulator is cracking down on illicit gaming apps that offer virtual trading services and fantasy games. This and more in today’s ETtech Top 5.
A quarter of hits & a few misses; and other top tech, startup stories
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Cards vs UPI; Byju’s advisory council dissolved
Happy Monday! UPI's ease of use is driving a shift to cashless payments, leaving debit cards behind. This and more in today’s ETtech Morning Dispatch.
Nikhil Kamath, Manyavar family office may join A91 in Rare Rabbit’s Rs 500 crore funding
Bootstrapped till now, Rare Rabbit clocked revenue of over Rs 600 crore in fiscal 2024, with an operating profit of more than Rs 100 crore, as per sources in the know. Along with Rare Rabbit, the brand's parent company Radhamani Textiles also owns women's premium fashion brand Rareism and everyday wear brand Articale.
Former BharatPe COO Dhruv Bahl launches venture fund
Former BharatPe COO Dhruv Dhanraj Bahl launches venture capital fund, Eternal Capital. The fund plans to raise Rs 120 cr with a greenshoe option for a similar amount
CaratLane’s Mithun Sacheti, Binny Bansal back Xeed as Indian founders turn big local sponsors of funds
In India, founders like Sacheti and Bansal are funding domestic funds like Xeed Ventures. The Rs 600 crore fund, with Premji Invest's backing, invests in startups like Charcoal.inc and Kredit.pe, led by Sailesh Tulshan.
Combating OTP frauds; Ather’s new funding round
Happy Tuesday! The government is working with SBI Card and telecom companies to tackle the menace of OTP-based online payment frauds. More on this in today’s ETtech Morning Dispatch.
Binny Bansal, CaratLane’s Sacheti back Xeed Ventures; decoding fintech’s AMC biz
Xeed Ventures, an early-stage fund run by Sailesh Tulshan, which was formerly known as 021 Capital, has also roped in Premji Invest as an LP. The investment committee (IC) for Xeed will consist of Tulshan, Bansal and Sacheti. Xeed is aiming to make a final close of Rs 600 crore and has already snagged 70% of the target corpus, according to people in the know.
ETtech In-depth: How a diversified capital pool is changing dealmaking for Indian startups
Startups witness a shift in investment trends. Domestic investors, family offices, and public market investors like ValueQuest and Singularity Ventures actively back ventures. Investment landscape changes as global funds retreat, and founders turn to investment banks for funding.
Startups tap new pools of capital; consumer lending apps hit profitability
Capital pools have diversified amid the broader tech slowdown with large global, crossover and hedge funds mostly staying away from cutting new cheques. Domestic firms and family offices such as those run by Zerodha cofounder Nikhil Kamath, Manipal Group chairman Ranjan Pai, and Premji Invest have backed startups including Subko, Quorum Club, Kites Seniorcare and The Sleep Company.
Investors bet on new-age food startups; ride-hailing apps up driver incentives
New-age food startups seem to have become appetising enough for investors to pump in money. This and more in today’s ETtech Morning Dispatch.
Lighthouse invests Rs 284 crore in jewellery brand Kushal’s
Kushal's will use the funds to strengthen its brand and increase its retail footprint. The jewellery brand aims to open more than 300 stores in the next three to four years. The funds will also be used to build technology.
Nikhil Kamath’s Gruhas, Collective Artists Network launch Rs 150 crore fund for consumer startups
The new fund, Gruhas Collective Consumer Fund will look to invest around Rs 150 crore in areas such as fashion and lifestyle, health and wellness, coffee and beverages, personal care, and food services.
Two-wheeler EV maker Ather Energy rides into Nepal
Recently, the Tiger Global-backed EV startup secured Rs 900 crore in funding from two-wheeler major Hero MotoCorp and Singaporean sovereign wealth fund GIC, both of which are existing shareholders in Ather.
Family offices of Nikhil Kamath, Zomato’s Goyal, IIFL to invest in Bluestone
CarDekho’s Amit Jain, Manipal's Rajan Pai, Info Edge Ventures investing in $65 million funding, to value the firm at $440 million.
The Pai-and-Kamath way to startup investing; and other top tech stories this week
Bluestone is only the latest in the list of investments by Pai and Kamath, but this marks the growing pace at which they are signing new cheques at a time mid-to-large scale startups are finding it hard to score new funding.
What led to Zerodha's success? CEO Nithin Kamath shares key reason, says 'As a business, we have been lucky... '
Nithin Kamath, CEO of the brokerage firm Zerodha, reveals the key reason behind the company's massive success in last few years. Zerodha provides 10 per cent brokerage to users for referring, earning up to 300 reward points when a referred person opens an account.
Nithin Kamath to Rachana Ranade to Dhruv Rathee: 10 ordinary people who have redefined financial success
On the 12th anniversary of ET Wealth, meet 10 people from ordinary walks of life who have redefined financial success.
Mind Over Money: How this ex-soldier turned CEO of international hedge fund manages stress
" Whatever teams are leading now around the world -- mental health is crucial. This was huge before the pandemic, but even more important now. First, we must create cohesive, inclusive environments and communities."
BHIVE Fund to raise Rs 400 crore to invest in commercial office projects
BHIVE, the parent company, will be the sponsor of the fund and will invest in office properties with occupancy certificates ranging between 15,000 sq. ft. and 50,000 sq. ft. across Bangalore.
Zapkey raises $2 million from Nikhil Kamath-backed Gruhas Proptech, DLF Family office
Blume Founders Fund, the Alkem Labs Family, Kotak’s Sriniwasan and Koo founder Aprameya Radhakrishna also among key investors
Govt should abolish STT to encourage new investors to start trading: Experts
Puneet Maheshwari, Director, Upstox, said the government may consider relieving traders of the STT. By doing so, new investors would be encouraged to start trading.
WEGoT gets $1.5 million from Nikhil Kamath-backed Gruhas Proptech, others
"We have about one lakh devices that are on the field, and we expect to increase this to about 10 lakh devices in 2022," says Abilash Haridass, cofounder and chief executive officer of WEGoT Utility Solutions.
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