Affirma charts $300 mn exit; Peek at Fairfax's worst India bet; Q&A with Celesta Capital's Arun Kumar

Trouble viewing this email? [View in web browser](=/0/aHR0cHM6Ly9hc3NldHMudmNjaXJjbGUuY29tL25ld3NsZXR0ZXIvMjAyMy8xMS9kYWlseS92Y2MtZGFpbHktbmV3c2xldHRlci0yMDIzLTExLTEwLmh0bWw=/654e359bf7199e7f2d518503-20231110) [VCCircle](=/1/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/654e359bf7199e7f2d518503-20231110) Friday, 10 Nov 2023 =/2/aHR0cHM6Ly90aGVwaXRjaC52Y2NpcmNsZS5jb20v/654e359bf7199e7f2d518503-20231110 =/3/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FmZmlybWFjYXBpdGFsLWNoYXJ0cy1vdmVyLTMwMC1tbi1leGl0LWZyb20taW5kaWEtdGVjaC1pbnZlc3RtZW50/654e359bf7199e7f2d518503-20231110 Private Equity [Affirma Capital charts over $300 mn exit from India tech investment](=/4/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FmZmlybWFjYXBpdGFsLWNoYXJ0cy1vdmVyLTMwMC1tbi1leGl0LWZyb20taW5kaWEtdGVjaC1pbnZlc3RtZW50/654e359bf7199e7f2d518503-20231110) Emerging markets-focused private equity firm Affirma Capital has set the ball rolling to make a partial exit with high returns from an India ...... [Read more](=/5/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FmZmlybWFjYXBpdGFsLWNoYXJ0cy1vdmVyLTMwMC1tbi1leGl0LWZyb20taW5kaWEtdGVjaC1pbnZlc3RtZW50/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- Private Equity [CPPIB slows investment pace in India, clocks an exit](=/6/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NwcGlic2xvd3MtaW52ZXN0bWVudC1wYWNlLWluLWluZGlhLWNsb2Nrcy1hbi1leGl0/654e359bf7199e7f2d518503-20231110) Canada Pension Plan Investment Board (CPPIB), which ended the previous fiscal year with its net assets in India breaching the C$20-billion mark, has ...... [Read more](=/7/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NwcGlic2xvd3MtaW52ZXN0bWVudC1wYWNlLWluLWluZGlhLWNsb2Nrcy1hbi1leGl0/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- Private Equity [Faering Capital picks up a piece of bakery chain with $16-mn cheque](=/8/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZhZXJpbmdjYXBpdGFsLXBpY2tzLXVwLWEtcGllY2Utb2YtYmFrZXJ5LWNoYWluLXdpdGgtMTYtbW4tY2hlcXVl/654e359bf7199e7f2d518503-20231110) Online-first bakery brand Bakingo said Friday it has raised $16 million (around Rs 130 crore) from homegrown private equity firm Faering Capital in ...... [Read more](=/9/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZhZXJpbmdjYXBpdGFsLXBpY2tzLXVwLWEtcGllY2Utb2YtYmFrZXJ5LWNoYWluLXdpdGgtMTYtbW4tY2hlcXVl/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- =/10/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3Nwb3RsaWdodGhvdy1mYXJtLWxvZ2lzdGljcy1maXJtLW5jbWwtdHVybmVkLWludG8tZmFpcmZheC1zLWJpZ2dlc3QtaW5kaWEtZmxvcA==/654e359bf7199e7f2d518503-20231110 Analysis [Spotlight: How farm logistics firm NCML turned into Fairfax’s biggest India flop](=/11/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3Nwb3RsaWdodGhvdy1mYXJtLWxvZ2lzdGljcy1maXJtLW5jbWwtdHVybmVkLWludG8tZmFpcmZheC1zLWJpZ2dlc3QtaW5kaWEtZmxvcA==/654e359bf7199e7f2d518503-20231110) A little more than eight years ago, Indian-born Canadian billionaire Prem Watsa’s Fairfax India Holdings Corp took control of a company that was at ...... [Read more](=/12/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3Nwb3RsaWdodGhvdy1mYXJtLWxvZ2lzdGljcy1maXJtLW5jbWwtdHVybmVkLWludG8tZmFpcmZheC1zLWJpZ2dlc3QtaW5kaWEtZmxvcA==/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- PE/VC [Deals Digest: Investment activity slows down in the week leading up to Diwali](=/13/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2RlYWxzZGlnZXN0LWludmVzdG1lbnQtYWN0aXZpdHktc2xvd3MtZG93bi1pbi10aGUtd2Vlay1sZWFkaW5nLXVwLXRvLWRpd2FsaQ==/654e359bf7199e7f2d518503-20231110) Funding activity by private equity and venture capital firms slowed down this week amid a dearth of big-ticket transactions as festival fervour picked...... [Read more](=/14/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2RlYWxzZGlnZXN0LWludmVzdG1lbnQtYWN0aXZpdHktc2xvd3MtZG93bi1pbi10aGUtd2Vlay1sZWFkaW5nLXVwLXRvLWRpd2FsaQ==/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- =/15/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NlbGVzdGFjYXBpdGFsLXMtYXJ1bi1rdW1hci1vbi1kZWVwLXRlY2gtYmV0cy1hdm9pZGluZy1oeXBlZC1kZWFscy1hbmQtbW9yZQ==/654e359bf7199e7f2d518503-20231110 Interview [Celesta Capital’s Arun Kumar on deep-tech bets, avoiding hyped deals and more](=/16/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NlbGVzdGFjYXBpdGFsLXMtYXJ1bi1rdW1hci1vbi1kZWVwLXRlY2gtYmV0cy1hdm9pZGluZy1oeXBlZC1kZWFscy1hbmQtbW9yZQ==/654e359bf7199e7f2d518503-20231110) Celesta Capital, a venture capital firm that focuses on deep-tech startups, aims to ramp up its investments in India after building a portfolio that ...... [Read more](=/17/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NlbGVzdGFjYXBpdGFsLXMtYXJ1bi1rdW1hci1vbi1kZWVwLXRlY2gtYmV0cy1hdm9pZGluZy1oeXBlZC1kZWFscy1hbmQtbW9yZQ==/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- Private Equity [Sugar Cosmetics in talks with sovereign funds, PE firms for fresh funding](=/18/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3N1Z2FyY29zbWV0aWNzLWluLXRhbGtzLXdpdGgtc292ZXJlaWduLWZ1bmRzLXBlLWZpcm1zLWZvci1mcmVzaC1mdW5kaW5n/654e359bf7199e7f2d518503-20231110) Direct-to-consumer (D2C) brand Sugar Cosmetics is looking to raise $100 million in a new funding round that will value the company at around $700-800 ...... [Read more](=/19/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3N1Z2FyY29zbWV0aWNzLWluLXRhbGtzLXdpdGgtc292ZXJlaWduLWZ1bmRzLXBlLWZpcm1zLWZvci1mcmVzaC1mdW5kaW5n/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- Credit [CapitaLand India Trust secures $155 mn loan for data centre in India](=/20/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NhcGl0YWxhbmRpbmRpYS10cnVzdC1zZWN1cmVzLTE1NS1tbi1sb2FuLWZvci1kYXRhLWNlbnRyZS1pbi1pbmRpYQ==/654e359bf7199e7f2d518503-20231110) Singapore's CapitaLand India Trust (CLINT) on Friday said it has secured a five-year construction loan of 13 billion rupees ($155.9 million) to ...... [Read more](=/21/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NhcGl0YWxhbmRpbmRpYS10cnVzdC1zZWN1cmVzLTE1NS1tbi1sb2FuLWZvci1kYXRhLWNlbnRyZS1pbi1pbmRpYQ==/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- Finance [SoftBank books $5.2 bn quarterly loss as WeWork comes back to bite](=/22/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NvZnRiYW5rYm9va3MtNS0yLWJuLXF1YXJ0ZXJseS1sb3NzLWFzLXdld29yay1jb21lcy1iYWNrLXRvLWJpdGU=/654e359bf7199e7f2d518503-20231110) SoftBank Group booked a $5.2 billion quarterly loss on Thursday, its fourth straight quarter in the red, as the Japanese giant took a hit from the ...... [Read more](=/23/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NvZnRiYW5rYm9va3MtNS0yLWJuLXF1YXJ0ZXJseS1sb3NzLWFzLXdld29yay1jb21lcy1iYWNrLXRvLWJpdGU=/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- Markets [Sensex, Nifty log second weekly gain on energy stocks boost](=/24/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NlbnNleG5pZnR5LWxvZy1zZWNvbmQtd2Vla2x5LWdhaW4tb24tZW5lcmd5LXN0b2Nrcy1ib29zdA==/654e359bf7199e7f2d518503-20231110) Indian shares rose for a second consecutive week on Friday, led by energy stocks as oil prices fell, even as hawkish US Federal Reserve remarks ...... [Read more](=/25/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NlbnNleG5pZnR5LWxvZy1zZWNvbmQtd2Vla2x5LWdhaW4tb24tZW5lcmd5LXN0b2Nrcy1ib29zdA==/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- Markets [India rupee falls to lifetime low, notches weekly decline](=/26/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGlhcnVwZWUtZmFsbHMtdG8tbGlmZXRpbWUtbG93LW5vdGNoZXMtd2Vla2x5LWRlY2xpbmU=/654e359bf7199e7f2d518503-20231110) The Indian rupee fell to a record low on Friday as a rebound in US Treasury yields pressured Asian currencies.The rupee INR=IN closed at 83.34 against...... [Read more](=/27/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGlhcnVwZWUtZmFsbHMtdG8tbGlmZXRpbWUtbG93LW5vdGNoZXMtd2Vla2x5LWRlY2xpbmU=/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- Venture Capital [Moneyboxx pockets $9 mn from HNIs, family offices](=/28/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL21vbmV5Ym94eHBvY2tldHMtOS1tbi1mcm9tLWhuaXMtZmFtaWx5LW9mZmljZXM=/654e359bf7199e7f2d518503-20231110) Small and medium enterprise-focussed non-banking financial company (NBFC) Moneyboxx Finance Ltd., on Friday said it has raised Rs 75 crore ($9 ...... [Read more](=/29/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL21vbmV5Ym94eHBvY2tldHMtOS1tbi1mcm9tLWhuaXMtZmFtaWx5LW9mZmljZXM=/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- =/30/aHR0cHM6Ly92YWx1YXRpb25mdW5kcmFpc2luZy52Y2NpcmNsZS5jb20v/654e359bf7199e7f2d518503-20231110 [VCCircle](=/31/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/654e359bf7199e7f2d518503-20231110) [Privacy Policy](=/32/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3Rlcm1zLW9mLXVzZSNwcml2YWN5LXBvbGljeQ==/654e359bf7199e7f2d518503-20231110) | [Contact us](=/33/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NvbnRhY3QtdXM=/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- Download the VCCircle app and read premium stories [alt_text](=/34/aHR0cHM6Ly9wbGF5Lmdvb2dsZS5jb20vc3RvcmUvYXBwcy9kZXRhaWxzP2lkPWNvbS52Y2NpcmNsZSZobD1lbl9VUw==/654e359bf7199e7f2d518503-20231110) [alt_text](=/35/aHR0cHM6Ly9pdHVuZXMuYXBwbGUuY29tL2luL2FwcC92Y2NpcmNsZS9pZDc0MDM2MjcwOD9tdD04/654e359bf7199e7f2d518503-20231110) --------------------------------------------------------------- Newsletters sent by newsletter@vccircle.co & Powered by Copyright © HT Digital Streams. All Rights Reserved If you want to unsubscribe then click [Unsubscribe](=/654e359bf7199e7f2d518503-20231110)