Peek at infra, consumer and private credit dealmaking in 2023; Spotting the red flags in startups

Trouble viewing this email? [View in web browser](=/0/aHR0cHM6Ly9hc3NldHMudmNjaXJjbGUuY29tL25ld3NsZXR0ZXIvMjAyMy8xMi9kYWlseS92Y2MtZGFpbHktbmV3c2xldHRlci0yMDIzLTEyLTI2Lmh0bWw=/658ae03b93c453ed2487609c-20231226) [VCCircle](=/1/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/658ae03b93c453ed2487609c-20231226) Tuesday, 26 Dec 2023 =/2/aHR0cHM6Ly96ZnJtei5jb20vTE1HeHdRVDdFNDNEb1pmTXBnNXk=/658ae03b93c453ed2487609c-20231226 =/3/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd3RvLXJlYWQtdGhlLXdhcm5pbmctc2lnbnMtb2YtZ292ZXJuYW5jZS1yaXNrcy1pbi1hLXN0YXJ0dXA=/658ae03b93c453ed2487609c-20231226 Startups [How to read the warning signs of governance risks in a startup](=/4/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd3RvLXJlYWQtdGhlLXdhcm5pbmctc2lnbnMtb2YtZ292ZXJuYW5jZS1yaXNrcy1pbi1hLXN0YXJ0dXA=/658ae03b93c453ed2487609c-20231226) Three years ago, Inflection Point Ventures (IPV), an angel investing platform that now runs a VC fund, intended to back a direct-to-consumer (D2C) ...... [Read more](=/5/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd3RvLXJlYWQtdGhlLXdhcm5pbmctc2lnbnMtb2YtZ292ZXJuYW5jZS1yaXNrcy1pbi1hLXN0YXJ0dXA=/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- Credit [Flashback 2023: Private credit booms but RBI curbs cloud outlook](=/6/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZsYXNoYmFjazIwMjMtcHJpdmF0ZS1jcmVkaXQtYm9vbXMtYnV0LXJiaS1jdXJicy1jbG91ZC1vdXRsb29r/658ae03b93c453ed2487609c-20231226) The private credit market gained significant momentum in India during 2023 with both local and global debt investors joining the bandwagon even as...... [Read more](=/7/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZsYXNoYmFjazIwMjMtcHJpdmF0ZS1jcmVkaXQtYm9vbXMtYnV0LXJiaS1jdXJicy1jbG91ZC1vdXRsb29r/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- M&A [Flashback 2023: Infrastructure on strong footing as green energy deals dominate](=/8/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZsYXNoYmFjazIwMjMtaW5mcmFzdHJ1Y3R1cmUtb24tc3Ryb25nLWZvb3RpbmctYXMtZ3JlZW4tZW5lcmd5LWRlYWxzLWRvbWluYXRl/658ae03b93c453ed2487609c-20231226) Almost three years back, the Indian economy plunged into a recession for the first time in over four decades when Covid-19 lockdowns through 2020 ...... [Read more](=/9/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZsYXNoYmFjazIwMjMtaW5mcmFzdHJ1Y3R1cmUtb24tc3Ryb25nLWZvb3RpbmctYXMtZ3JlZW4tZW5lcmd5LWRlYWxzLWRvbWluYXRl/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- M&A [Flashback 2023: Big-ticket deals lift activity in consumer sector through sluggish year](=/10/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZsYXNoYmFjazIwMjMtYmlnLXRpY2tldC1kZWFscy1saWZ0LWFjdGl2aXR5LWluLWNvbnN1bWVyLXNlY3Rvci10aHJvdWdoLXNsdWdnaXNoLXllYXI=/658ae03b93c453ed2487609c-20231226) The global economic slowdown may have affected deal activity in India this year, but the consumer landscape still saw some significant transactions. ...... [Read more](=/11/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZsYXNoYmFjazIwMjMtYmlnLXRpY2tldC1kZWFscy1saWZ0LWFjdGl2aXR5LWluLWNvbnN1bWVyLXNlY3Rvci10aHJvdWdoLXNsdWdnaXNoLXllYXI=/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- =/12/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3JvaGF0eW5tYWtlcy1hbm90aGVyLWV4aXQtbW92ZS1mcm9tLWxlZ2FjeS1wb3J0Zm9saW8tZmlybQ==/658ae03b93c453ed2487609c-20231226 Private Equity [Rohatyn makes another exit move from legacy portfolio firm](=/13/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3JvaGF0eW5tYWtlcy1hbm90aGVyLWV4aXQtbW92ZS1mcm9tLWxlZ2FjeS1wb3J0Zm9saW8tZmlybQ==/658ae03b93c453ed2487609c-20231226) The Rohatyn Group, an emerging markets-focused private equity firm, has pressed the exit button again on an Indian portfolio company as it joined a ...... [Read more](=/14/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3JvaGF0eW5tYWtlcy1hbm90aGVyLWV4aXQtbW92ZS1mcm9tLWxlZ2FjeS1wb3J0Zm9saW8tZmlybQ==/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- Venture Capital [Cloud kitchen startup Kitchens@ raises $65 million in Series C](=/15/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Nsb3Vka2l0Y2hlbi1zdGFydHVwLWtpdGNoZW5zLXJhaXNlcy02NS1taWxsaW9uLWluLXNlcmllcy1j/658ae03b93c453ed2487609c-20231226) Cloud kitchen company Kitchens@ has raised $65 million in its Series C round of funding from London-based Finnest, a growth investment firm which ...... [Read more](=/16/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Nsb3Vka2l0Y2hlbi1zdGFydHVwLWtpdGNoZW5zLXJhaXNlcy02NS1taWxsaW9uLWluLXNlcmllcy1j/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- Venture Capital [Scope raises $45 mn for VC fund to invest in fintech, gaming sectors](=/17/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3Njb3BlcmFpc2VzLTQ1LW1uLWZvci12Yy1mdW5kLXRvLWludmVzdC1pbi1maW50ZWNoLWdhbWluZy1zZWN0b3Jz/658ae03b93c453ed2487609c-20231226) Startup-focussed networking platform Scope has raised $45 million (around Rs 375 crore) for its maiden venture capital fund that will primarily ...... [Read more](=/18/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3Njb3BlcmFpc2VzLTQ1LW1uLWZvci12Yy1mdW5kLXRvLWludmVzdC1pbi1maW50ZWNoLWdhbWluZy1zZWN0b3Jz/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- Venture Capital [E-mobility lender RevFin snags $14 mn in Series B round](=/19/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Vtb2JpbGl0eS1sZW5kZXItcmV2ZmluLXNuYWdzLTE0LW1uLWluLXNlcmllcy1iLXJvdW5k/658ae03b93c453ed2487609c-20231226) RevFin Services Pvt. Ltd, a fintech startup focussed on e-mobility, has raised $14 million (Rs 115 crore) in a Series B funding round led by Omidyar ...... [Read more](=/20/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Vtb2JpbGl0eS1sZW5kZXItcmV2ZmluLXNuYWdzLTE0LW1uLWluLXNlcmllcy1iLXJvdW5k/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- General [Adani Green to raise $1.12 bn to expand renewable energy capacity](=/21/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FkYW5pZ3JlZW4tdG8tcmFpc2UtMS0xMi1ibi10by1leHBhbmQtcmVuZXdhYmxlLWVuZXJneS1jYXBhY2l0eQ==/658ae03b93c453ed2487609c-20231226) India's Adani Green Energy on Tuesday said its key shareholders will invest 93.50 billion rupees ($1.12 billion) in the company to expand its ...... [Read more](=/22/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FkYW5pZ3JlZW4tdG8tcmFpc2UtMS0xMi1ibi10by1leHBhbmQtcmVuZXdhYmxlLWVuZXJneS1jYXBhY2l0eQ==/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- Venture Capital [We Founder Circle-operated EvolveX leads pre-seed round in SaaS platform TestnTrack](=/23/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3dlZm91bmRlci1jaXJjbGUtb3BlcmF0ZWQtZXZvbHZleC1sZWFkcy1wcmUtc2VlZC1yb3VuZC1pbi1zYWFzLXBsYXRmb3JtLXRlc3RudHJhY2s=/658ae03b93c453ed2487609c-20231226) Software-as-a-service (SaaS) startup TestnTrack, said on Tuesday that it has raised an undisclosed amount in a pre-seed funding round from startup ...... [Read more](=/24/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3dlZm91bmRlci1jaXJjbGUtb3BlcmF0ZWQtZXZvbHZleC1sZWFkcy1wcmUtc2VlZC1yb3VuZC1pbi1zYWFzLXBsYXRmb3JtLXRlc3RudHJhY2s=/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- General [Grapevine: Reliance, Disney ink term sheet for media merger; SoftBank cuts FirstCry stake](=/25/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZXJlbGlhbmNlLWRpc25leS1pbmstdGVybS1zaGVldC1mb3ItbWVkaWEtbWVyZ2VyLWlsLWZzLXRvLXNlbGwtcm9hZC1hc3NldHM=/658ae03b93c453ed2487609c-20231226) Reliance Industries Ltd and Walt Disney Co have signed a non-binding term sheet to merge their India media and entertainment operations, a media ...... [Read more](=/26/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZXJlbGlhbmNlLWRpc25leS1pbmstdGVybS1zaGVldC1mb3ItbWVkaWEtbWVyZ2VyLWlsLWZzLXRvLXNlbGwtcm9hZC1hc3NldHM=/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- =/27/aHR0cHM6Ly9zdXN0YWluYWJpbGl0eS52Y2NpcmNsZS5jb20v/658ae03b93c453ed2487609c-20231226 [VCCircle](=/28/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/658ae03b93c453ed2487609c-20231226) [Privacy Policy](=/29/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3Rlcm1zLW9mLXVzZSNwcml2YWN5LXBvbGljeQ==/658ae03b93c453ed2487609c-20231226) | [Contact us](=/30/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NvbnRhY3QtdXM=/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- Download the VCCircle app and read premium stories [alt_text](=/31/aHR0cHM6Ly9wbGF5Lmdvb2dsZS5jb20vc3RvcmUvYXBwcy9kZXRhaWxzP2lkPWNvbS52Y2NpcmNsZSZobD1lbl9VUw==/658ae03b93c453ed2487609c-20231226) [alt_text](=/32/aHR0cHM6Ly9pdHVuZXMuYXBwbGUuY29tL2luL2FwcC92Y2NpcmNsZS9pZDc0MDM2MjcwOD9tdD04/658ae03b93c453ed2487609c-20231226) --------------------------------------------------------------- Newsletters sent by newsletter@vccircle.co & Powered by Copyright © HT Digital Streams. 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