Kedaara, Partners Group sign off with $1 bn; Somerset hits first close of new fund; Q&A with Flourish Ventures' execs

Trouble viewing this email? [View in web browser](=/0/aHR0cHM6Ly9hc3NldHMudmNjaXJjbGUuY29tL25ld3NsZXR0ZXIvMjAyNC8wOC9kYWlseS92Y2MtZGFpbHktbmV3c2xldHRlci0yMDI0LTA4LTEyLmh0bWw=/66ba19a1b62e5881b9b829c6-20240812) [VCCircle](=/1/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/66ba19a1b62e5881b9b829c6-20240812) Monday, 12 Aug 2024 =/2/aHR0cHM6Ly9scHN1bW1pdC52Y2NldmVudHMuY29tL2R1YmFpLw==/66ba19a1b62e5881b9b829c6-20240812 =/3/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2tlZGFhcmFwYXJ0bmVycy1ncm91cC1zaWduLW9mZi13aXRoLW92ZXItMS1ibi1mcm9tLWluZGlhLWNsdWItZGVhbA==/66ba19a1b62e5881b9b829c6-20240812 Private Equity [Kedaara, Partners Group sign off with over $1 bn from India club deal](=/4/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2tlZGFhcmFwYXJ0bmVycy1ncm91cC1zaWduLW9mZi13aXRoLW92ZXItMS1ibi1mcm9tLWluZGlhLWNsdWItZGVhbA==/66ba19a1b62e5881b9b829c6-20240812) Private equity firm Kedaara Capital, which raised a record sum for its fourth India-focused fund, and its Swiss co-investor Partners Group have inked...... [Read more](=/5/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2tlZGFhcmFwYXJ0bmVycy1ncm91cC1zaWduLW9mZi13aXRoLW92ZXItMS1ibi1mcm9tLWluZGlhLWNsdWItZGVhbA==/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- Private Equity [Somerset Indus Capital hits first close for third PE fund](=/6/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NvbWVyc2V0aW5kdXMtY2FwaXRhbC1oaXQtZmlyc3QtY2xvc2Utb2YtdGhpcmQtcGUtZnVuZA==/66ba19a1b62e5881b9b829c6-20240812) Healthcare-focused private equity firm Somerset Indus Capital Partners, which is an investor in companies such as Genworks, Apex Hospitals, Globela ...... [Read more](=/7/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NvbWVyc2V0aW5kdXMtY2FwaXRhbC1oaXQtZmlyc3QtY2xvc2Utb2YtdGhpcmQtcGUtZnVuZA==/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- Private Equity [PE-backed Social cafe parent Impresario’s CEO quits, to float own firm](=/8/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3BlYmFja2VkLXNvY2lhbC1jYWZlLXBhcmVudC1pbXByZXNhcmlvLXMtY2VvLXF1aXRzLXRvLWZsb2F0LW93bi1maXJt/66ba19a1b62e5881b9b829c6-20240812) The chief executive officer of Impresario Entertainment and Hospitality Pvt Ltd, the private equity-backed owner of cafe chain Social and Smoke House ...... [Read more](=/9/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3BlYmFja2VkLXNvY2lhbC1jYWZlLXBhcmVudC1pbXByZXNhcmlvLXMtY2VvLXF1aXRzLXRvLWZsb2F0LW93bi1maXJt/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- =/10/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Zsb3VyaXNodmVudHVyZXMtZWhyYmVjay1rYXVzaGlrLW9uLWludmVzdG1lbnQtdGhlc2lzLWluZGlhLXBsYW4tYW5kLW1vcmU=/66ba19a1b62e5881b9b829c6-20240812 Venture Capital [Flourish Ventures’ Ehrbeck, Kaushik on investment thesis, India plan and more](=/11/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Zsb3VyaXNodmVudHVyZXMtZWhyYmVjay1rYXVzaGlrLW9uLWludmVzdG1lbnQtdGhlc2lzLWluZGlhLXBsYW4tYW5kLW1vcmU=/66ba19a1b62e5881b9b829c6-20240812) Flourish Ventures, which counts eBay founder Pierre Omidyar as its sole limited partner (LP), was spun out from Omidyar Network in 2019 to focus on ...... [Read more](=/12/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Zsb3VyaXNodmVudHVyZXMtZWhyYmVjay1rYXVzaGlrLW9uLWludmVzdG1lbnQtdGhlc2lzLWluZGlhLXBsYW4tYW5kLW1vcmU=/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- Private Equity [Bottomline: PE-backed Kogta Financial’s loan book soars past $500 mn mark](=/13/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JvdHRvbWxpbmVwZS1iYWNrZWQta29ndGEtZmluYW5jaWFsLXMtbG9hbi1ib29rLXNvYXJzLXBhc3QtNTAwLW1uLW1hcms=/66ba19a1b62e5881b9b829c6-20240812) Non-banking financial company Kogta Financial, which is backed by private equity names like Morgan Stanley PE Asia, Multiples PE, OTPP and Javelin ...... [Read more](=/14/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JvdHRvbWxpbmVwZS1iYWNrZWQta29ndGEtZmluYW5jaWFsLXMtbG9hbi1ib29rLXNvYXJzLXBhc3QtNTAwLW1uLW1hcms=/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- Private Equity [Axis AMC’s real estate fund with Tishman Speyer inks debut deal](=/15/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2F4aXNhbWMtcy1yZWFsLWVzdGF0ZS1mdW5kLXdpdGgtdGlzaG1hbi1zcGV5ZXItaW5rcy1kZWJ1dC1kZWFs/66ba19a1b62e5881b9b829c6-20240812) Mumbai-based Axis Asset Management Company, a subsidiary of private-sector lender Axis Bank, has closed its maiden deal from the real estate ...... [Read more](=/16/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2F4aXNhbWMtcy1yZWFsLWVzdGF0ZS1mdW5kLXdpdGgtdGlzaG1hbi1zcGV5ZXItaW5rcy1kZWJ1dC1kZWFs/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- Private Equity [EV maker Kinetic Green raises $25 mn as part of larger Series A round](=/17/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2V2bWFrZXIta2luZXRpYy1ncm91cC1yYWlzZXMtMjUtbW4tYXMtcGFydC1vZi1sYXJnZXItc2VyaWVzLWEtcm91bmQ=/66ba19a1b62e5881b9b829c6-20240812) Kinetic Green, electric vehicle arm of the Kinetic Group that manufactured Luna, a moped vehicle popular in the 1970s, has raised $25 million in ...... [Read more](=/18/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2V2bWFrZXIta2luZXRpYy1ncm91cC1yYWlzZXMtMjUtbW4tYXMtcGFydC1vZi1sYXJnZXItc2VyaWVzLWEtcm91bmQ=/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- M&A [Arkam-backed fintech Jai Kisan acquires Kushal, gets NBFC licence as bonus](=/19/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Fya2FtYmFja2VkLWZpbnRlY2gtamFpLWtpc2FuLWFjcXVpcmVzLWt1c2hhbC1nZXRzLW5iZmMtbGljZW5jZS1hcy1ib251cw==/66ba19a1b62e5881b9b829c6-20240812) Fintech startup Jai Kisan, backed by marquee investors including Arkam Ventures, Blume Ventures, British International Investment and Mirae Asset ...... [Read more](=/20/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Fya2FtYmFja2VkLWZpbnRlY2gtamFpLWtpc2FuLWFjcXVpcmVzLWt1c2hhbC1nZXRzLW5iZmMtbGljZW5jZS1hcy1ib251cw==/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- Venture Capital [Truva, 4baseCare, two others secure early-stage funds](=/21/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RydXZhNGJhc2VjYXJlLXR3by1vdGhlcnMtc2VjdXJlLWVhcmx5LXN0YWdlLWZ1bmRz/66ba19a1b62e5881b9b829c6-20240812) Oncology solutions startup 4baseCare, wealth management platform Infinyte.Club, real estate technology startup Truva, healthcare financing startup ...... [Read more](=/22/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RydXZhNGJhc2VjYXJlLXR3by1vdGhlcnMtc2VjdXJlLWVhcmx5LXN0YWdlLWZ1bmRz/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- Private Equity [MUFG expands India BFSI basket with investment in Neo Group](=/23/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL211ZmdleHBhbmRzLWluZGlhLWJmc2ktYmFza2V0LXdpdGgtaW52ZXN0bWVudC1pbi1uZW8tZ3JvdXA=/66ba19a1b62e5881b9b829c6-20240812) Japanese banking major MUFG has increased its India BFSI play through participation in funding round in wealth and asset manager Neo Group that counts...... [Read more](=/24/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL211ZmdleHBhbmRzLWluZGlhLWJmc2ktYmFza2V0LXdpdGgtaW52ZXN0bWVudC1pbi1uZW8tZ3JvdXA=/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- Insights Focus [BabyOrgano Secures ₹6 Crore Seed Funding from Sauce.vc](=/25/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JhYnlvcmdhbm9zZWN1cmVzLTYtY3JvcmUtc2VlZC1mdW5kaW5nLWZyb20tc2F1Y2UtdmM=/66ba19a1b62e5881b9b829c6-20240812) BabyOrgano, an Ayurvedic wellness and personal care brand for kids, has successfully raised ₹6 crore in funding from Sauce Consumer Fund III, with ...... [Read more](=/26/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JhYnlvcmdhbm9zZWN1cmVzLTYtY3JvcmUtc2VlZC1mdW5kaW5nLWZyb20tc2F1Y2UtdmM=/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- M&A [Bharti to acquire minority stake in British telecom giant BT for $4 bn](=/27/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JoYXJ0aXRvLWFjcXVpcmUtbWlub3JpdHktc3Rha2UtaW4tYnJpdGlzaC10ZWxlY29tLWdpYW50LWJ0LWZvci00LWJu/66ba19a1b62e5881b9b829c6-20240812) India's Bharti Enterprises said it would acquire a 24.5% stake in BT, worth 3.2 billion pounds ($4 billion), to buy out the British company's ...... [Read more](=/28/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JoYXJ0aXRvLWFjcXVpcmUtbWlub3JpdHktc3Rha2UtaW4tYnJpdGlzaC10ZWxlY29tLWdpYW50LWJ0LWZvci00LWJu/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- =/29/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FkYW5pc3RvY2tzLXJlY292ZXItYWZ0ZXItbG9zaW5nLTE5LWJuLWFtaWQtaGluZGVuYnVyZy1zLWZyZXNoLWFsbGVnYXRpb25z/66ba19a1b62e5881b9b829c6-20240812 Markets [Adani stocks lose $2.4 bn amid Hindenburg's fresh allegations against SEBI chair](=/30/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FkYW5pc3RvY2tzLXJlY292ZXItYWZ0ZXItbG9zaW5nLTE5LWJuLWFtaWQtaGluZGVuYnVyZy1zLWZyZXNoLWFsbGVnYXRpb25z/66ba19a1b62e5881b9b829c6-20240812) Adani Group, the Indian conglomerate rocked by a Hindenburg Research report last year, faced another heavy share selloff on Monday after the ...... [Read more](=/31/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FkYW5pc3RvY2tzLXJlY292ZXItYWZ0ZXItbG9zaW5nLTE5LWJuLWFtaWQtaGluZGVuYnVyZy1zLWZyZXNoLWFsbGVnYXRpb25z/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- Markets [Sensex, Nifty pare early losses to end mildly lower on Monday](=/32/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NlbnNleG5pZnR5LXBhcmUtZWFybHktbG9zc2VzLXRvLWVuZC1taWxkbHktbG93ZXItb24tbW9uZGF5/66ba19a1b62e5881b9b829c6-20240812) Indian shares recovered most early losses to close marginally lower on Monday, as gains in bank stocks largely offset the impact of Hindenburg ...... [Read more](=/33/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NlbnNleG5pZnR5LXBhcmUtZWFybHktbG9zc2VzLXRvLWVuZC1taWxkbHktbG93ZXItb24tbW9uZGF5/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- Markets [Rupee slips to fresh record low, in line with other Asian currencies](=/34/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3J1cGVlc2xpcHMtdG8tZnJlc2gtcmVjb3JkLWxvdy1pbi1saW5lLXdpdGgtb3RoZXItYXNpYW4tY3VycmVuY2llcw==/66ba19a1b62e5881b9b829c6-20240812) The Indian rupee slipped to its weakest closing level on Monday, pressured by a decline in its Asian peers while likely intervention by the Reserve ...... [Read more](=/35/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3J1cGVlc2xpcHMtdG8tZnJlc2gtcmVjb3JkLWxvdy1pbi1saW5lLXdpdGgtb3RoZXItYXNpYW4tY3VycmVuY2llcw==/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- General [Grapevine: Zepto set to raise fresh funds; Flipkart-backed Shadowfax mulls IPO](=/36/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZXplcHRvLXNldC10by1yYWlzZS1mcmVzaC1mdW5kcy1mbGlwa2FydC1iYWNrZWQtc2hhZG93ZmF4LW11bGxzLWlwbw==/66ba19a1b62e5881b9b829c6-20240812) Zepto is set to raise $310 million (about Rs 2500 crore), boosting its valuation to $5 billion—a 40% increase from its previous funding round just ...... [Read more](=/37/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZXplcHRvLXNldC10by1yYWlzZS1mcmVzaC1mdW5kcy1mbGlwa2FydC1iYWNrZWQtc2hhZG93ZmF4LW11bGxzLWlwbw==/66ba19a1b62e5881b9b829c6-20240812) --------------------------------------------------------------- Insights Focus [Tenth Episode of Crafting Bharat Podcast Series with Dale Vaz, Founder & CEO of Aaritya, Explores Future Insights of the Indian Startup Ecosystem](=/38/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RlbnRoZXBpc29kZS1vZi1jcmFmdGluZy1iaGFyYXQtcG9kY2FzdC1zZXJpZXMtd2l0aC1kYWxlLXZhei1mb3VuZGVyLWNlby1vZi1hYXJpdHlhLWV4cGxvcmVzLWZ1dHVyZS1pbnNpZ2h0cy1vZi10aGUtaW5kaWFuLXN0YXJ0dXAtZWNvc3lzdGVt/66ba19a1b62e5881b9b829c6-20240812) Indian is a country with great potential considering its population size, open global economy, and increasing digital adoption. India’s startup ...... 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