Bessemer, WestBridge, Multiples PE make exit moves; How did Swiggy, PwC India, Milk Mantra fare in FY24?

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[View in web browser](=/0/aHR0cHM6Ly9hc3NldHMudmNjaXJjbGUuY29tL25ld3NsZXR0ZXIvMjAyNC8wOS9kYWlseS92Y2MtZGFpbHktbmV3c2xldHRlci0yMDI0LTA5LTA0Lmh0bWw=/66d86e36b62e5881b917453d-20240904) [VCCircle](=/1/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/66d86e36b62e5881b917453d-20240904) Wednesday, 4 Sep 2024 =/2/aHR0cHM6Ly9scHN1bW1pdC52Y2NldmVudHMuY29tL2R1YmFpLw==/66d86e36b62e5881b917453d-20240904 =/3/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RoaXN2Yy1maXJtLWp1c3QtaGl0LW5lYXJseS0yLTAwMHgtcmV0dXJucy1vbi1zZXZlbi15ZWFyLW9sZC1pbmRpYS1pbnZlc3RtZW50/66d86e36b62e5881b917453d-20240904 Venture Capital [This VC firm just hit nearly 2,000x returns on seven-year-old India investment](=/4/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RoaXN2Yy1maXJtLWp1c3QtaGl0LW5lYXJseS0yLTAwMHgtcmV0dXJucy1vbi1zZXZlbi15ZWFyLW9sZC1pbmRpYS1pbnZlc3RtZW50/66d86e36b62e5881b917453d-20240904) Silicon Valley venture capital firm Bessemer Venture Partners, which joined the ranks of global peers Sequoia Capital, Accel and Lightspeed Venture ...... [Read more](=/5/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RoaXN2Yy1maXJtLWp1c3QtaGl0LW5lYXJseS0yLTAwMHgtcmV0dXJucy1vbi1zZXZlbi15ZWFyLW9sZC1pbmRpYS1pbnZlc3RtZW50/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- Private Equity [WestBridge signs off with around $300 mn in portfolio exit](=/6/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3dlc3RicmlkZ2VzaWducy1vZmYtd2l0aC1hcm91bmQtMzAwLW1uLWluLXBvcnRmb2xpby1leGl0/66d86e36b62e5881b917453d-20240904) Private equity firm WestBridge Capital, which bets on unlisted companies and also makes private investments in public equities (PIPE), has likely ...... [Read more](=/7/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3dlc3RicmlkZ2VzaWducy1vZmYtd2l0aC1hcm91bmQtMzAwLW1uLWluLXBvcnRmb2xpby1leGl0/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- Private Equity [Multiples PE, Narotam Sekhsaria FO set for a multi-bagger as DAM Capital eyes IPO](=/8/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL211bHRpcGxlc3BlLWJhY2tlZC1pLWJhbmstc2V0LXRvLWhpdC1ib3Vyc2VzLWJ1dC13aGF0LXZhbHVhdGlvbi1pcy1pdC1zZWVraW5n/66d86e36b62e5881b917453d-20240904) DAM Capital Advisors, which was created when Axis Capital veteran Dharmesh Anil Mehta acquired IDFC Securities with the backing of private equity firm...... [Read more](=/9/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL211bHRpcGxlc3BlLWJhY2tlZC1pLWJhbmstc2V0LXRvLWhpdC1ib3Vyc2VzLWJ1dC13aGF0LXZhbHVhdGlvbi1pcy1pdC1zZWVraW5n/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- =/10/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3N3aWdneWJlYXRzLXpvbWF0by1pbi1mb29kLWRlbGl2ZXJ5LXJhY2UtYnV0LWxhZ3MtaW4tcXVpY2stY29tbWVyY2U=/66d86e36b62e5881b917453d-20240904 TMT [Swiggy beats Zomato in food delivery race but lags in quick commerce](=/11/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3N3aWdneWJlYXRzLXpvbWF0by1pbi1mb29kLWRlbGl2ZXJ5LXJhY2UtYnV0LWxhZ3MtaW4tcXVpY2stY29tbWVyY2U=/66d86e36b62e5881b917453d-20240904) IPO-bound Swiggy’s consolidated revenue from operations increased nearly 36% to Rs 11,247 crore in the financial year ending March 2024, up from Rs ...... [Read more](=/12/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3N3aWdneWJlYXRzLXpvbWF0by1pbi1mb29kLWRlbGl2ZXJ5LXJhY2UtYnV0LWxhZ3MtaW4tcXVpY2stY29tbWVyY2U=/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- Finance [PwC India revenue tops $1 bn on consultancy push but audit biz mints more profit](=/13/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3B3Y2luZGlhLXJldmVudWUtdG9wcy0xLWJuLW9uLWNvbnN1bHRhbmN5LXB1c2gtYnV0LWF1ZGl0LWJpei1taW50cy1tb3JlLXByb2ZpdA==/66d86e36b62e5881b917453d-20240904) PricewaterhouseCoopers (PwC), one of the Big Four global accounting firms, recorded a brisk rise in its India revenue during the year through March ...... [Read more](=/14/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3B3Y2luZGlhLXJldmVudWUtdG9wcy0xLWJuLW9uLWNvbnN1bHRhbmN5LXB1c2gtYnV0LWF1ZGl0LWJpei1taW50cy1tb3JlLXByb2ZpdA==/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- Venture Capital [C4D Partners India promotes exec to partner role](=/15/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2M0ZHBhcnRuZXJzLWluZGlhLXByb21vdGVzLWV4ZWMtdG8tcGFydG5lci1yb2xl/66d86e36b62e5881b917453d-20240904) Capital 4 Development (C4D) Partners India, which is currently raising its maiden India-focused fund, has promoted its principal director to the role ...... [Read more](=/16/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2M0ZHBhcnRuZXJzLWluZGlhLXByb21vdGVzLWV4ZWMtdG8tcGFydG5lci1yb2xl/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- =/17/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JvdHRvbWxpbmVuZWV2LWZ1bmQtYmFja2VkLW1pbGstbWFudHJhLWJhY2staW4tYmxhY2stb24tY29zdC1jb250cm9sLXJldmVudWUtZmxhdA==/66d86e36b62e5881b917453d-20240904 Consumer [Bottomline: Neev Fund-backed Milk Mantra back in black on cost control; revenue flat](=/18/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JvdHRvbWxpbmVuZWV2LWZ1bmQtYmFja2VkLW1pbGstbWFudHJhLWJhY2staW4tYmxhY2stb24tY29zdC1jb250cm9sLXJldmVudWUtZmxhdA==/66d86e36b62e5881b917453d-20240904) Odisha-based Milk Mantra Dairy Pvt Ltd, which has investments from State Bank of India-backed Neev Fund, Aavishkaar Capital, and Eight Road Ventures, ...... [Read more](=/19/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JvdHRvbWxpbmVuZWV2LWZ1bmQtYmFja2VkLW1pbGstbWFudHJhLWJhY2staW4tYmxhY2stb24tY29zdC1jb250cm9sLXJldmVudWUtZmxhdA==/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- M&A [ChrysCap-backed Centre For Sight strikes another acquisition in bid to expand](=/20/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NocnlzY2FwYmFja2VkLWNlbnRyZS1mb3Itc2lnaHQtc3RyaWtlcy1hbm90aGVyLWFjcXVpc2l0aW9uLWluLWJpZC10by1leHBhbmQt/66d86e36b62e5881b917453d-20240904) Centre For Sight, an ophthalmology chain-backed by domestic private equity firm Chrys Capital, has acquired a majority stake in an over-four-decade-...... [Read more](=/21/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NocnlzY2FwYmFja2VkLWNlbnRyZS1mb3Itc2lnaHQtc3RyaWtlcy1hbm90aGVyLWFjcXVpc2l0aW9uLWluLWJpZC10by1leHBhbmQt/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- M&A [Caspian Debt to merge with BlackSoil Capital via share swap](=/22/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Nhc3BpYW5kZWJ0LXRvLW1lcmdlLXdpdGgtYmxhY2tzb2lsLWNhcGl0YWwtdmlhLXNoYXJlLXN3YXA=/66d86e36b62e5881b917453d-20240904) Alternative credit providers BlackSoil Capital and Caspian Impact Investments (Debt) have received an approval from their boards of directors to merge...... [Read more](=/23/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Nhc3BpYW5kZWJ0LXRvLW1lcmdlLXdpdGgtYmxhY2tzb2lsLWNhcGl0YWwtdmlhLXNoYXJlLXN3YXA=/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- Private Equity [CapitaLand aims to more than double India funds under management by 2028](=/24/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NhcGl0YWxhbmRhaW1zLXRvLW1vcmUtdGhhbi1kb3VibGUtaW5kaWEtZnVuZHMtdW5kZXItbWFuYWdlbWVudC1ieS0yMDI4/66d86e36b62e5881b917453d-20240904) Singapore's CapitaLand Investment said on Wednesday it aims to more than double its funds under management in India by 2028 from S$7.4 billion ($5...... [Read more](=/25/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NhcGl0YWxhbmRhaW1zLXRvLW1vcmUtdGhhbi1kb3VibGUtaW5kaWEtZnVuZHMtdW5kZXItbWFuYWdlbWVudC1ieS0yMDI4/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- Venture Capital [Invest4Edu, others secure early-stage funding](=/26/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ludmVzdDRlZHV0aHJlZS1vdGhlcnMtc2VjdXJlLWVhcmx5LXN0YWdlLWZ1bmRpbmc=/66d86e36b62e5881b917453d-20240904) Education planning startup Invest4Edu, 60-minute clothes delivery startup Slikk, sports-tech startup Spolto, crypto-native social networking platform ...... [Read more](=/27/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ludmVzdDRlZHV0aHJlZS1vdGhlcnMtc2VjdXJlLWVhcmx5LXN0YWdlLWZ1bmRpbmc=/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- Private Equity [US lenders not on insolvency panel of Byju's](=/28/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3VzbGVuZGVycy1ub3Qtb24taW5zb2x2ZW5jeS1wYW5lbC1vZi1ieWp1LXM=/66d86e36b62e5881b917453d-20240904) U.S.-based Glas Trust is not part of a key panel overseeing the insolvency proceedings of Indian education-technology giant Byju's, and will need ...... [Read more](=/29/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3VzbGVuZGVycy1ub3Qtb24taW5zb2x2ZW5jeS1wYW5lbC1vZi1ieWp1LXM=/66d86e36b62e5881b917453d-20240904) --------------------------------------------------------------- General [Grapevine: Blackstone JV plans IPO; Pernod Ricard may sell whisky brand](=/30/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZWJsYWNrc3RvbmUtanYtcGxhbnMtaXBvLXBlcm5vZC1yaWNhcmQtbWF5LXNlbGwtd2hpc2t5LWJyYW5k/66d86e36b62e5881b917453d-20240904) Ventive Hospitality, a joint venture between Blackstone Group and Panchshil Realty, plans to file a draft prospectus for an initial public offering ...... 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