Nalanda hits over $100-mn exit; MO Alts backs SK Finance; Byju's loss widens

Trouble viewing this email? [View in web browser](=/0/aHR0cHM6Ly9hc3NldHMudmNjaXJjbGUuY29tL25ld3NsZXR0ZXIvMjAyNC8wMS9kYWlseS92Y2MtZGFpbHktbmV3c2xldHRlci0yMDI0LTAxLTIzLmh0bWw=/65afc44493c453ed247d3fb6-20240123) [VCCircle](=/1/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/65afc44493c453ed247d3fb6-20240123) Tuesday, 23 Jan 2024 =/2/aHR0cHM6Ly96ZnJtei5jb20vQ2U2eEFYRDd3a0ZZWFRkd3Q5b1Y=/65afc44493c453ed247d3fb6-20240123 =/3/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL25hbGFuZGFjYXBpdGFsLWhpdHMtb3Zlci0xMDAtbW4tZXhpdC1mcm9tLWRlZXAtY29udmljdGlvbi1pbmRpYS1iZXRz/65afc44493c453ed247d3fb6-20240123 Private Equity [Nalanda Capital hits over $100 mn exit from deep-conviction India bets](=/4/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL25hbGFuZGFjYXBpdGFsLWhpdHMtb3Zlci0xMDAtbW4tZXhpdC1mcm9tLWRlZXAtY29udmljdGlvbi1pbmRpYS1iZXRz/65afc44493c453ed247d3fb6-20240123) Nalanda Capital, a private equity-style investment firm started by former Warburg Pincus executive Pulak Prasad that focuses on the public markets, ...... [Read more](=/5/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL25hbGFuZGFjYXBpdGFsLWhpdHMtb3Zlci0xMDAtbW4tZXhpdC1mcm9tLWRlZXAtY29udmljdGlvbi1pbmRpYS1iZXRz/65afc44493c453ed247d3fb6-20240123) --------------------------------------------------------------- Private Equity [Motilal Oswal Alternates, TPG, others bet $160 mn on SK Finance](=/6/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL21vdGlsYWxvc3dhbC1hbHRlcm5hdGVzLXRwZy1vdGhlcnMtYmV0LTE2MC1tbi1vbi1zay1maW5hbmNl/65afc44493c453ed247d3fb6-20240123) Non-banking lender SK Finance said Tuesday it has concluded a new funding round worth Rs 1,328 crore ($160 million) from a bunch of new investors such...... [Read more](=/7/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL21vdGlsYWxvc3dhbC1hbHRlcm5hdGVzLXRwZy1vdGhlcnMtYmV0LTE2MC1tbi1vbi1zay1maW5hbmNl/65afc44493c453ed247d3fb6-20240123) --------------------------------------------------------------- Analysis [Bottomline: PE-backed IBS Software accelerates growth amid travel boom](=/8/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JvdHRvbWxpbmVwZS1iYWNrZWQtaWJzLXNvZnR3YXJlLWFjY2VsZXJhdGVzLWdyb3d0aC1hbWlkLXRyYXZlbC1ib29t/65afc44493c453ed247d3fb6-20240123) IBS Software Pvt. Ltd, a provider of software products and services to aviation and hospitality companies, has managed to accelerate growth in its ...... [Read more](=/9/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JvdHRvbWxpbmVwZS1iYWNrZWQtaWJzLXNvZnR3YXJlLWFjY2VsZXJhdGVzLWdyb3d0aC1hbWlkLXRyYXZlbC1ib29t/65afc44493c453ed247d3fb6-20240123) --------------------------------------------------------------- =/10/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3BlYWt4di1iYWNrZWQtaGVhbHRodGVjaC1zdGFydHVwLXF1cmUtYWktaW4tdGFsa3MtZm9yLWZyZXNoLWZ1bmRpbmc=/65afc44493c453ed247d3fb6-20240123 Venture Capital [Peak XV-backed healthtech startup Qure.ai in talks for fresh funding](=/11/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3BlYWt4di1iYWNrZWQtaGVhbHRodGVjaC1zdGFydHVwLXF1cmUtYWktaW4tdGFsa3MtZm9yLWZyZXNoLWZ1bmRpbmc=/65afc44493c453ed247d3fb6-20240123) Qure.ai Technologies Pvt. Ltd, a health-tech startup that uses artificial intelligence for medical imaging diagnostics, has hit the market to raise ...... [Read more](=/12/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3BlYWt4di1iYWNrZWQtaGVhbHRodGVjaC1zdGFydHVwLXF1cmUtYWktaW4tdGFsa3MtZm9yLWZyZXNoLWZ1bmRpbmc=/65afc44493c453ed247d3fb6-20240123) --------------------------------------------------------------- Startups [Byju’s FY22 loss widens to over $1 bn even as revenue more than doubles](=/13/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2J5anVzLWZ5MjItbG9zcy13aWRlbnMtdG8tb3Zlci0xLWJuLWV2ZW4tYXMtcmV2ZW51ZS1tb3JlLXRoYW4tZG91Ymxlcw==/65afc44493c453ed247d3fb6-20240123) Think & Learn Pvt. Ltd, the company that operates edtech platform Byju’s, posted a wider loss for the financial year through March 2022 despite ...... [Read more](=/14/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2J5anVzLWZ5MjItbG9zcy13aWRlbnMtdG8tb3Zlci0xLWJuLWV2ZW4tYXMtcmV2ZW51ZS1tb3JlLXRoYW4tZG91Ymxlcw==/65afc44493c453ed247d3fb6-20240123) --------------------------------------------------------------- =/15/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2xpZ2h0c3BlZWRuYW1lcy1mb3JtZXItZ29kcmVqLWdvamVrLWV4ZWNzLWFzLXZlbnR1cmUtcGFydG5lcnM=/65afc44493c453ed247d3fb6-20240123 People [Lightspeed names former Godrej, Gojek execs as venture partners](=/16/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2xpZ2h0c3BlZWRuYW1lcy1mb3JtZXItZ29kcmVqLWdvamVrLWV4ZWNzLWFzLXZlbnR1cmUtcGFydG5lcnM=/65afc44493c453ed247d3fb6-20240123) Lightspeed Venture Partners, an investor in unicorns such as Oyo, Udaan, ShareChat, Innovacer, Byju’s, and Razorpay has appointed two industry ...... [Read more](=/17/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2xpZ2h0c3BlZWRuYW1lcy1mb3JtZXItZ29kcmVqLWdvamVrLWV4ZWNzLWFzLXZlbnR1cmUtcGFydG5lcnM=/65afc44493c453ed247d3fb6-20240123) --------------------------------------------------------------- Venture Capital [RagaAI, three others raise early-stage funding](=/18/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NtYWxsZGVhbHMtcmFnYWFpLXRocmVlLW90aGVycy1yYWlzZS1lYXJseS1zdGFnZS1mdW5kaW5n/65afc44493c453ed247d3fb6-20240123) Artificial intelligence (AI) startup RagaAI, gaming-focused platform Stan, edtech startup Analytics Jobs and investment platform OpiGo secured early-...... [Read more](=/19/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3NtYWxsZGVhbHMtcmFnYWFpLXRocmVlLW90aGVycy1yYWlzZS1lYXJseS1zdGFnZS1mdW5kaW5n/65afc44493c453ed247d3fb6-20240123) --------------------------------------------------------------- General [Grapevine: Bharti may sell life insurance unit; Captain Fresh seeks funding](=/20/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZWJoYXJ0aS1tYXktc2VsbC1saWZlLWluc3VyYW5jZS11bml0LWNhcHRhaW4tZnJlc2gtc2Vla3MtZnVuZGluZw==/65afc44493c453ed247d3fb6-20240123) Billionaire Sunil Mittal-led Bharti Group is in advanced negotiations with SBI Life and other insurers to divest its wholly owned life insurance ...... [Read more](=/21/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZWJoYXJ0aS1tYXktc2VsbC1saWZlLWluc3VyYW5jZS11bml0LWNhcHRhaW4tZnJlc2gtc2Vla3MtZnVuZGluZw==/65afc44493c453ed247d3fb6-20240123) --------------------------------------------------------------- M&A [Zee plunges 30% as investors, analysts bail after failed Sony merger](=/22/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3plZXBsdW5nZXMtMzAtYXMtaW52ZXN0b3JzLWFuYWx5c3RzLWJhaWwtYWZ0ZXItZmFpbGVkLXNvbnktbWVyZ2Vy/65afc44493c453ed247d3fb6-20240123) Zee Entertainment's shares plunged as much as 30% on Tuesday, set for their worst day ever, as investors piled out of the Indian broadcaster ...... [Read more](=/23/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3plZXBsdW5nZXMtMzAtYXMtaW52ZXN0b3JzLWFuYWx5c3RzLWJhaWwtYWZ0ZXItZmFpbGVkLXNvbnktbWVyZ2Vy/65afc44493c453ed247d3fb6-20240123) --------------------------------------------------------------- Venture Capital [Byju's to raise funds at 90% valuation cut: Report](=/24/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2J5anVzLXRvLXJhaXNlLWZ1bmRzLWF0LTkwLXZhbHVhdGlvbi1jdXQtcmVwb3J0/65afc44493c453ed247d3fb6-20240123) Embattled Indian edtech startup Byju's is looking to raise more than $100 million from existing stakeholders but at a steep 90% discount to its $...... 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