Everstone tastes a lemon; MedGenome, Neuberg eye M&A; Aye Finance sets big targets

Trouble viewing this email? [View in web browser](=/0/aHR0cHM6Ly9hc3NldHMudmNjaXJjbGUuY29tL25ld3NsZXR0ZXIvMjAyNC8wOC9kYWlseS92Y2MtZGFpbHktbmV3c2xldHRlci0yMDI0LTA4LTEzLmh0bWw=/66bb69d0b62e5881b958c65a-20240813) [VCCircle](=/1/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/66bb69d0b62e5881b958c65a-20240813) Tuesday, 13 Aug 2024 =/2/aHR0cHM6Ly9scHN1bW1pdC52Y2NldmVudHMuY29tL2R1YmFpLw==/66bb69d0b62e5881b958c65a-20240813 =/3/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2V2ZXJzdG9uZWNhcGl0YWwtc2lnbmluZy1vZmYtYS1sZWdhY3ktYmV0LXdpdGgtYS1sZW1vbg==/66bb69d0b62e5881b958c65a-20240813 Private Equity [Everstone Capital signing off from a legacy bet with a lemon](=/4/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2V2ZXJzdG9uZWNhcGl0YWwtc2lnbmluZy1vZmYtYS1sZWdhY3ktYmV0LXdpdGgtYS1sZW1vbg==/66bb69d0b62e5881b958c65a-20240813) Singapore-headquartered and India-focused private equity firm Everstone Capital, which has clocked partial or full exits from a number of companies ...... [Read more](=/5/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2V2ZXJzdG9uZWNhcGl0YWwtc2lnbmluZy1vZmYtYS1sZWdhY3ktYmV0LXdpdGgtYS1sZW1vbg==/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- M&A [Exclusive: MedGenome, Neuberg eye controlling stake in diagnostic chain](=/6/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2V4Y2x1c2l2ZW1lZGdlbm9tZS1uZXViZXJnLWV5ZS1jb250cm9sbGluZy1zdGFrZS1pbi1kaWFnbm9zdGljLWNoYWlu/66bb69d0b62e5881b958c65a-20240813) Peak XV Partners-backed healthtech startup MedGenome and super-specialty diagnostics chain Neuberg Diagnostics are in the fray to pick up a ...... [Read more](=/7/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2V4Y2x1c2l2ZW1lZGdlbm9tZS1uZXViZXJnLWV5ZS1jb250cm9sbGluZy1zdGFrZS1pbi1kaWFnbm9zdGljLWNoYWlu/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- Pharma [Searchlight: Allchem Lifescience bets big on capacity expansion after record revenue](=/8/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NlYXJjaGxpZ2h0YWxsY2hlbS1saWZlc2NpZW5jZS1iZXRzLWJpZy1vbi1jYXBhY2l0eS1leHBhbnNpb24tYWZ0ZXItcmVjb3JkLXJldmVudWU=/66bb69d0b62e5881b958c65a-20240813) Active pharmaceutical ingredient (API) and pharma intermediates maker Allchem Lifescience recorded a rise in its topline and profitability for the ...... [Read more](=/9/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NlYXJjaGxpZ2h0YWxsY2hlbS1saWZlc2NpZW5jZS1iZXRzLWJpZy1vbi1jYXBhY2l0eS1leHBhbnNpb24tYWZ0ZXItcmVjb3JkLXJldmVudWU=/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- =/10/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2VsZXZhdGlvbmJhY2tlZC1heWUtZmluYW5jZS1haW1zLXRvLW1vcmUtdGhhbi1kb3VibGUtYXVtLXRyaXBsZS1wcm9maXQtYnktZnkyNw==/66bb69d0b62e5881b958c65a-20240813 Finance [Elevation-backed Aye Finance aims to more than double AUM, triple profit by FY27](=/11/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2VsZXZhdGlvbmJhY2tlZC1heWUtZmluYW5jZS1haW1zLXRvLW1vcmUtdGhhbi1kb3VibGUtYXVtLXRyaXBsZS1wcm9maXQtYnktZnkyNw==/66bb69d0b62e5881b958c65a-20240813) Aye Finance, a non-banking finance company which lends to micro, small and medium sector enterprises (MSME) in India, aims to more than double its ...... [Read more](=/12/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2VsZXZhdGlvbmJhY2tlZC1heWUtZmluYW5jZS1haW1zLXRvLW1vcmUtdGhhbi1kb3VibGUtYXVtLXRyaXBsZS1wcm9maXQtYnktZnkyNw==/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- Markets [SoftBank portfolio firms FirstCry, Unicommerce make strong trading debuts](=/13/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZpcnN0Y3J5anVtcHMtNDAtaW4tZGVidXQtdHJhZGU=/66bb69d0b62e5881b958c65a-20240813) Two companies backed by SoftBank—Brainbees Solutions Ltd, the parent company of baby products retailer FirstCry, and e-commerce-focused SaaS company...... [Read more](=/14/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZpcnN0Y3J5anVtcHMtNDAtaW4tZGVidXQtdHJhZGU=/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- Private Equity [Ather enters unicorn club with fresh funding from NIIF](=/15/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2F0aGVyZW50ZXJzLXVuaWNvcm4tY2x1Yi13aXRoLWZyZXNoLWZ1bmRpbmctZnJvbS1uaWlm/66bb69d0b62e5881b958c65a-20240813) Electric scooter maker Ather Energy has made its entry into the unicorn club, securing $71 million (Rs 596 crore) in fresh capital from India's ...... [Read more](=/16/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2F0aGVyZW50ZXJzLXVuaWNvcm4tY2x1Yi13aXRoLWZyZXNoLWZ1bmRpbmctZnJvbS1uaWlm/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- =/17/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3doeXBlLWZpcm1zLXN0cmF0ZWdpYy1pbnZlc3RvcnMtbXVzdC1wcmVwYXJlLWZvci1yZWd1bGF0b3J5LWNoYW5nZXMtaW4tcHJlc2Nob29sLXNlY3Rvcg==/66bb69d0b62e5881b958c65a-20240813 Private Equity [Why PE firms, strategic investors must prepare for regulatory changes in preschool sector](=/18/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3doeXBlLWZpcm1zLXN0cmF0ZWdpYy1pbnZlc3RvcnMtbXVzdC1wcmVwYXJlLWZvci1yZWd1bGF0b3J5LWNoYW5nZXMtaW4tcHJlc2Nob29sLXNlY3Rvcg==/66bb69d0b62e5881b958c65a-20240813) In 2023, the size of the Indian preschool market reached $4.2 billion. Market research company, IMARC estimates continuing growth in this sector at a ...... [Read more](=/19/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3doeXBlLWZpcm1zLXN0cmF0ZWdpYy1pbnZlc3RvcnMtbXVzdC1wcmVwYXJlLWZvci1yZWd1bGF0b3J5LWNoYW5nZXMtaW4tcHJlc2Nob29sLXNlY3Rvcg==/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- Venture Capital [Fresh Bus, Fashor, Kazam, MiClient, others raise early-stage funding](=/20/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZyZXNoYnVzLWZhc2hvci1rYXphbS1taWNsaWVudC1vdGhlcnMtcmFpc2UtZWFybHktc3RhZ2UtZnVuZGluZw==/66bb69d0b62e5881b958c65a-20240813) Electric mobility-focused startups Fresh Bus and Kazam; contemporary ethnic wear brand Fashor; marine robotics deeptech startup EyeROV; AI-driven ...... [Read more](=/21/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZyZXNoYnVzLWZhc2hvci1rYXphbS1taWNsaWVudC1vdGhlcnMtcmFpc2UtZWFybHktc3RhZ2UtZnVuZGluZw==/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- Venture Capital [Tanglin Venture leads $10 mn funding in green domestic items startup Beco](=/22/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RhbmdsaW52ZW50dXJlLWxlYWRzLTEwLW1uLWZ1bmRpbmctaW4tZ3JlZW4tZG9tZXN0aWMtaXRlbXMtc3RhcnR1cC1iZWNv/66bb69d0b62e5881b958c65a-20240813) Homegrown eco-friendly home, kitchen & personal care brand Beco has raised $10 million as part of its pre-Series B round fundraise, led by Tanglin ...... [Read more](=/23/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RhbmdsaW52ZW50dXJlLWxlYWRzLTEwLW1uLWZ1bmRpbmctaW4tZ3JlZW4tZG9tZXN0aWMtaXRlbXMtc3RhcnR1cC1iZWNv/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- M&A [JSW Steel to buy $120 mn stake in Australian firm to expand coal reserves](=/24/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2pzd3N0ZWVsLXRvLWJ1eS0xMjAtbW4tc3Rha2UtaW4tYXVzdHJhbGlhbi1maXJtLXRvLWV4cGFuZC1jb2FsLXJlc2VydmVz/66bb69d0b62e5881b958c65a-20240813) India's top steelmaker JSW Steel said on Monday it will buy a 67% stake in an Australian private firm for $120 million in a bid to expand its coal...... [Read more](=/25/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2pzd3N0ZWVsLXRvLWJ1eS0xMjAtbW4tc3Rha2UtaW4tYXVzdHJhbGlhbi1maXJtLXRvLWV4cGFuZC1jb2FsLXJlc2VydmVz/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- Markets [India's weight on MSCI equity index rises to record high; $3 bn inflows likely](=/26/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGlhcy13ZWlnaHQtb24tbXNjaS1lcXVpdHktaW5kZXgtcmlzZXMtdG8tcmVjb3JkLWhpZ2gtMy1ibi1pbmZsb3dzLWxpa2VseQ==/66bb69d0b62e5881b958c65a-20240813) India's weight on the MSCI Global Standard index, which tracks emerging market stocks, has risen to another record high, which is likely to ...... [Read more](=/27/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGlhcy13ZWlnaHQtb24tbXNjaS1lcXVpdHktaW5kZXgtcmlzZXMtdG8tcmVjb3JkLWhpZ2gtMy1ibi1pbmZsb3dzLWxpa2VseQ==/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- Venture Capital [SMBC’s Asia Rising Fund joins Vayana’s ongoing Series D round](=/28/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NtYmNzLWFzaWEtcmlzaW5nLWZ1bmQtam9pbnMtdmF5YW5hLXMtb25nb2luZy1zZXJpZXMtZC1yb3VuZA==/66bb69d0b62e5881b958c65a-20240813) Trade credit infrastructure platform Vayana Tuesday said it raised $20.5 million (Rs 172 crore) as part of its ongoing Series D funding round, led by ...... [Read more](=/29/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NtYmNzLWFzaWEtcmlzaW5nLWZ1bmQtam9pbnMtdmF5YW5hLXMtb25nb2luZy1zZXJpZXMtZC1yb3VuZA==/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- M&A [SBI plans to sell Yes Bank stake worth $2.2 bn by end-March](=/30/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NiaXBsYW5zLXRvLXNlbGwteWVzLWJhbmstc3Rha2Utd29ydGgtMi0yLWJuLWJ5LWVuZC1tYXJjaA==/66bb69d0b62e5881b958c65a-20240813) State Bank of India (SBI), the country's largest lender, aims to strike a deal by end-March for the sale of its 24% stake worth 184.2 billion ...... [Read more](=/31/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NiaXBsYW5zLXRvLXNlbGwteWVzLWJhbmstc3Rha2Utd29ydGgtMi0yLWJuLWJ5LWVuZC1tYXJjaA==/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- M&A [Reliance, Walt Disney offer concessions to get antitrust nod for India merger](=/32/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3JlbGlhbmNld2FsdC1kaXNuZXktb2ZmZXItY29uY2Vzc2lvbnMtdG8tZ2V0LWFudGl0cnVzdC1ub2QtZm9yLWluZGlhLW1lcmdlcg==/66bb69d0b62e5881b958c65a-20240813) Reliance and Walt Disney have offered to sell some channels to win faster antitrust approval for their $8.5 billion India media assets merger, but are...... [Read more](=/33/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3JlbGlhbmNld2FsdC1kaXNuZXktb2ZmZXItY29uY2Vzc2lvbnMtdG8tZ2V0LWFudGl0cnVzdC1ub2QtZm9yLWluZGlhLW1lcmdlcg==/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- General [Grapevine: PE-backed firms eye Sharp Sight; Bain Capital enters race for HealthCare Global](=/34/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZXBlLWJhY2tlZC1maXJtcy1leWUtc2hhcnAtc2lnaHQta2tyLXBhdXNlcy1saWdodGhvdXNlLWxlYXJuaW5nLXNhbGU=/66bb69d0b62e5881b958c65a-20240813) The founders of Sharp Sight Eye Hospitals are in talks to sell a controlling stake in a move that would allow private equity investor InvAscent to...... [Read more](=/35/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZXBlLWJhY2tlZC1maXJtcy1leWUtc2hhcnAtc2lnaHQta2tyLXBhdXNlcy1saWdodGhvdXNlLWxlYXJuaW5nLXNhbGU=/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- =/36/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLyNuZXdzbGV0dGVy/66bb69d0b62e5881b958c65a-20240813 [VCCircle](=/37/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/66bb69d0b62e5881b958c65a-20240813) [Privacy Policy](=/38/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3Rlcm1zLW9mLXVzZSNwcml2YWN5LXBvbGljeQ==/66bb69d0b62e5881b958c65a-20240813) | [Contact us](=/39/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NvbnRhY3QtdXM=/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- Download the VCCircle app and read premium stories [alt_text](=/40/aHR0cHM6Ly9wbGF5Lmdvb2dsZS5jb20vc3RvcmUvYXBwcy9kZXRhaWxzP2lkPWNvbS52Y2NpcmNsZSZobD1lbl9VUw==/66bb69d0b62e5881b958c65a-20240813) [alt_text](=/41/aHR0cHM6Ly9pdHVuZXMuYXBwbGUuY29tL2luL2FwcC92Y2NpcmNsZS9pZDc0MDM2MjcwOD9tdD04/66bb69d0b62e5881b958c65a-20240813) --------------------------------------------------------------- Newsletters sent by newsletter@vccircle.co & Powered by Copyright © HT Digital Streams. All Rights Reserved If you want to unsubscribe then click [Unsubscribe](=/66bb69d0b62e5881b958c65a-20240813)