Norwest, TPG, WestBridge make exit moves; NephroPlus, iBus tap new investors; Morgan Stanley, InvAscent, Samena ink deals

Trouble viewing this email? [View in web browser](=/0/aHR0cHM6Ly9hc3NldHMudmNjaXJjbGUuY29tL25ld3NsZXR0ZXIvMjAyNC8wNS9kYWlseS92Y2MtZGFpbHktbmV3c2xldHRlci0yMDI0LTA1LTAyLmh0bWw=/6633ad91cc78b5386ac3b412-20240502) [VCCircle](=/1/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/6633ad91cc78b5386ac3b412-20240502) Thursday, 2 May 2024 =/2/aHR0cHM6Ly9scHN1bW1pdC52Y2NldmVudHMuY29tL2R1YmFpLw==/6633ad91cc78b5386ac3b412-20240502 =/3/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3dlc3RicmlkZ2VoaXRzLXNlbGwtYnV0dG9uLW9uLW9uZS1vZi1pdHMtc2luZ2xlLWJpZ2dlc3QtaW5kaWEtYmV0cw==/6633ad91cc78b5386ac3b412-20240502 Private Equity [WestBridge hits sell button on one of its single biggest India bets](=/4/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3dlc3RicmlkZ2VoaXRzLXNlbGwtYnV0dG9uLW9uLW9uZS1vZi1pdHMtc2luZ2xlLWJpZ2dlc3QtaW5kaWEtYmV0cw==/6633ad91cc78b5386ac3b412-20240502) Private equity firm WestBridge Capital, which backs unlisted companies and also makes private investments in public equities (PIPE), has pressed the ...... [Read more](=/5/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3dlc3RicmlkZ2VoaXRzLXNlbGwtYnV0dG9uLW9uLW9uZS1vZi1pdHMtc2luZ2xlLWJpZ2dlc3QtaW5kaWEtYmV0cw==/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- Private Equity [How Norwest, TPG stand to mint money as SK Finance eyes $1 bn valuation in IPO](=/6/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd25vcndlc3QtdHBnLXN0YW5kLXRvLW1pbnQtbW9uZXktYXMtc2stZmluYW5jZS1leWVzLTEtYm4tdmFsdWF0aW9uLWluLWlwbw==/6633ad91cc78b5386ac3b412-20240502) Non-banking lender SK Finance, which concluded a pre-IPO funding round worth Rs 1,328 crore ($160 million) from a bunch of new private equity ...... [Read more](=/7/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd25vcndlc3QtdHBnLXN0YW5kLXRvLW1pbnQtbW9uZXktYXMtc2stZmluYW5jZS1leWVzLTEtYm4tdmFsdWF0aW9uLWluLWlwbw==/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- Private Equity [Exclusive: PE firm to lead majority stake buy of NephroPlus](=/8/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2V4Y2x1c2l2ZXBlLWZpcm0tdG8tbGVhZC1tYWpvcml0eS1zdGFrZS1idXktb2YtbmVwaHJvcGx1cw==/6633ad91cc78b5386ac3b412-20240502) Nephrocare Health Services Pvt Ltd, India’s biggest nephrology chain operator that runs its business as NephroPlus, is set to see a big-ticket ...... [Read more](=/9/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2V4Y2x1c2l2ZXBlLWZpcm0tdG8tbGVhZC1tYWpvcml0eS1zdGFrZS1idXktb2YtbmVwaHJvcGx1cw==/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- =/10/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL25paWZjb250cm9sbGVkLWlidXMtbWF5LXJvcGUtaW4tbmV3LWludmVzdG9yLWFzLXJldmVudWUtdGFrZXMtZmxpZ2h0/6633ad91cc78b5386ac3b412-20240502 Private Equity [NIIF-controlled iBus may rope in new investor as revenue takes flight](=/11/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL25paWZjb250cm9sbGVkLWlidXMtbWF5LXJvcGUtaW4tbmV3LWludmVzdG9yLWFzLXJldmVudWUtdGFrZXMtZmxpZ2h0/6633ad91cc78b5386ac3b412-20240502) iBus Network and Infrastructure Pvt Ltd is set to add another investor to its cap table, weeks after the National Investment and Infrastructure Fund (...... [Read more](=/12/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL25paWZjb250cm9sbGVkLWlidXMtbWF5LXJvcGUtaW4tbmV3LWludmVzdG9yLWFzLXJldmVudWUtdGFrZXMtZmxpZ2h0/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- Venture Capital [True North-backed domestic NBFC adds new investor to cap table](=/13/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RydWVub3J0aC1iYWNrZWQtZG9tZXN0aWMtbmJmYy1iYWdzLWV4dGVuZGVkLWZ1bmRpbmctZnJvbS1uZXctaW52ZXN0b3I=/6633ad91cc78b5386ac3b412-20240502) A non-banking financial company, backed by homegrown private equity firm True North, has bagged an additional amount in an extended funding round from...... [Read more](=/14/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RydWVub3J0aC1iYWNrZWQtZG9tZXN0aWMtbmJmYy1iYWdzLWV4dGVuZGVkLWZ1bmRpbmctZnJvbS1uZXctaW52ZXN0b3I=/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- Credit [Nisus Finance sets up Mauritius vehicle for second stressed assets fund](=/15/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL25pc3VzZmluYW5jZS1zZXRzLXVwLW1hdXJpdGl1cy12ZWhpY2xlLWZvci1zZWNvbmQtc3RyZXNzZWQtYXNzZXRzLWZ1bmQ=/6633ad91cc78b5386ac3b412-20240502) Mumbai-based real estate investor Nisus Finance and Investment Managers LLP, part of Nisus Finance Group, has established another international ...... [Read more](=/16/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL25pc3VzZmluYW5jZS1zZXRzLXVwLW1hdXJpdGl1cy12ZWhpY2xlLWZvci1zZWNvbmQtc3RyZXNzZWQtYXNzZXRzLWZ1bmQ=/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- =/17/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL21vcmdhbnN0YW5sZXktcGUtaW52YXNjZW50LXN0cmlrZS0xMjAtbW4tY29udHJvbC1kZWFsLWZvci1tYWl2YS1waGFybWE=/6633ad91cc78b5386ac3b412-20240502 Private Equity [Morgan Stanley PE, InvAscent strike $120-mn control deal for Maiva Pharma](=/18/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL21vcmdhbnN0YW5sZXktcGUtaW52YXNjZW50LXN0cmlrZS0xMjAtbW4tY29udHJvbC1kZWFsLWZvci1tYWl2YS1waGFybWE=/6633ad91cc78b5386ac3b412-20240502) Morgan Stanley Private Equity Asia and healthcare-focused private equity firm InvAscent have jointly picked up a controlling stake in sterile ...... [Read more](=/19/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL21vcmdhbnN0YW5sZXktcGUtaW52YXNjZW50LXN0cmlrZS0xMjAtbW4tY29udHJvbC1kZWFsLWZvci1tYWl2YS1waGFybWE=/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- Private Equity [Samena Capital leads $158 mn funding round in U Gro Capital](=/20/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NhbWVuYWNhcGl0YWwtbGVhZHMtMTU4LW1uLWZ1bmRpbmctcm91bmQtaW4tdS1ncm8tY2FwaXRhbA==/6633ad91cc78b5386ac3b412-20240502) Listed non-banking lender U Gro Capital Ltd, which counts private equity firms Samena Capital, ADV Partners and TPG NewQuest among its investors, has ...... [Read more](=/21/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NhbWVuYWNhcGl0YWwtbGVhZHMtMTU4LW1uLWZ1bmRpbmctcm91bmQtaW4tdS1ncm8tY2FwaXRhbA==/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- M&A [Bayer acquires remaining stake in JV with Zydus Lifesciences](=/22/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JheWVyYWNxdWlyZXMtcmVtYWluaW5nLXN0YWtlLWluLWp2LXdpdGgtenlkdXMtbGlmZXNjaWVuY2Vz/6633ad91cc78b5386ac3b412-20240502) Germany’s Bayer Pharmaceuticals Pvt. Ltd has acquired the 25% stake it didn't already own in its joint venture with Ahmedabad-based Zydus ...... [Read more](=/23/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JheWVyYWNxdWlyZXMtcmVtYWluaW5nLXN0YWtlLWluLWp2LXdpdGgtenlkdXMtbGlmZXNjaWVuY2Vz/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- Healthcare [Why Indian private hospitals may face growth slowdown in FY25](=/24/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3doeWluZGlhbi1wcml2YXRlLWhvc3BpdGFscy1tYXktZmFjZS1ncm93dGgtc2xvd2Rvd24taW4tZnkyNQ==/6633ad91cc78b5386ac3b412-20240502) Private hospitals in India will likely record a slower revenue growth in the fiscal year 2024-25 compared with the previous year as they adjust to the...... [Read more](=/25/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3doeWluZGlhbi1wcml2YXRlLWhvc3BpdGFscy1tYXktZmFjZS1ncm93dGgtc2xvd2Rvd24taW4tZnkyNQ==/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- Venture Capital [Former BharatPe COO’s venture capital firm rolls out maiden fund](=/26/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Zvcm1lcmJoYXJhdHBlLWNvby1zLXZlbnR1cmUtY2FwaXRhbC1maXJtLXJvbGxzLW91dC1tYWlkZW4tZnVuZA==/6633ad91cc78b5386ac3b412-20240502) Dhruv Dhanraj Bahl, former chief operating officer of fintech unicorn BharatPe, has set up a venture capital firm and floated its maiden fund ...... [Read more](=/27/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Zvcm1lcmJoYXJhdHBlLWNvby1zLXZlbnR1cmUtY2FwaXRhbC1maXJtLXJvbGxzLW91dC1tYWlkZW4tZnVuZA==/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- People [Freshworks hires ex-Dropbox exec as CEO, founder Mathrubootham to be chairman](=/28/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZyZXNod29ya3NoaXJlcy1leC1kcm9wYm94LWV4ZWMtYXMtY2VvLWZvdW5kZXItbWF0aHJ1Ym9vdGhhbS10by1iZS1jaGFpcm1hbg==/6633ad91cc78b5386ac3b412-20240502) Freshworks said on Wednesday that Dennis Woodside will take over as CEO of the CRM software maker, and founder Girish Mathrubootham will be the firm&#...... [Read more](=/29/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZyZXNod29ya3NoaXJlcy1leC1kcm9wYm94LWV4ZWMtYXMtY2VvLWZvdW5kZXItbWF0aHJ1Ym9vdGhhbS10by1iZS1jaGFpcm1hbg==/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- Venture Capital [Confectionary brand Go Desi secures Series B funding](=/30/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NvbmZlY3Rpb25hcnlicmFuZC1nby1kZXNpLXNlY3VyZXMtc2VyaWVzLWItZnVuZGluZw==/6633ad91cc78b5386ac3b412-20240502) Bengaluru-based confectionary brand Go Desi Thursday said it has raised $4.9 million (Rs 41 crore) in a Series B funding round, led by impact investor...... [Read more](=/31/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NvbmZlY3Rpb25hcnlicmFuZC1nby1kZXNpLXNlY3VyZXMtc2VyaWVzLWItZnVuZGluZw==/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- Venture Capital [Dexif, four others secure early-stage funding](=/32/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2RleGlmdGhyZWUtb3RoZXJzLXNlY3VyZS1lYXJseS1zdGFnZS1mdW5kaW5n/6633ad91cc78b5386ac3b412-20240502) Fintech startup Dexif, business-to-business-to-consumer fresh fruit platform Fresh From Farm, consumer brand Kyari, apparel marketplace Culture Circle...... [Read more](=/33/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2RleGlmdGhyZWUtb3RoZXJzLXNlY3VyZS1lYXJseS1zdGFnZS1mdW5kaW5n/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- Venture Capital [Together Fund, BoldCap exit a year-old bet](=/34/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RvZ2V0aGVyZnVuZC1ib2xkY2FwLXZlbnR1cmVzLWV4aXQtYS15ZWFyLW9sZC1iZXQ=/6633ad91cc78b5386ac3b412-20240502) Early-stage venture capital firms Together Fund and BoldCap VC have exited their investment in software-as-a-service startup Togai, which they backed ...... [Read more](=/35/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RvZ2V0aGVyZnVuZC1ib2xkY2FwLXZlbnR1cmVzLWV4aXQtYS15ZWFyLW9sZC1iZXQ=/6633ad91cc78b5386ac3b412-20240502) --------------------------------------------------------------- General [Grapevine: Juniper Green mulls IPO; Tiger Global-backed Innovaccer seeks funding](=/36/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZWp1bmlwZXItZ3JlZW4tZW5lcmd5LW11bGxzLWlwby10aWdlci1nbG9iYWwtYmFja2VkLWlubm92YWNjZXItdG8tcmFpc2UtZnJlc2gtZnVuZHM=/6633ad91cc78b5386ac3b412-20240502) Delhi-based renewable energy firm Juniper Green Energy is in talks with investment banks to explore the possibility of an initial public offering (...... 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