Abu Dhabi Investment Authority (ADIA), which invests money globally on behalf of UAE’s emirate, which invest money globally on behalf of UAE’s emirate is investing Rs 5,683.5 Cr ($752 million) in Jio Platforms. ADIA’s investment will translate into a 1.16% stake in Jio Platforms. Together, ADIA and Mubadala will own 3.01% stake in Jio.
Here is some latest financial news of private equity, venture capital and mergers & acquisitions:
Private Equity
Brookfield inks deal to acquire Emami Group’s solar energy arm:
Brookfield Asset Management Inc., a Canada-based alternative investment giant, has signed a deal to acquire Emami Power Ltd., a solar power focused company owned by the promoters of the Emami Group. (Source: VC Circle 08June, 2020)
After Jio, KKR looks to invest in pharmacy chain:
Private equity giant KKR & Co. Inc, which recently struck its biggest Asia deal by investing in Reliance Industries Ltd digital unit, is in talks to invest as much as Rs 700 Cr in MedPlus Health Services Pvt Ltd, the second-largest pharmacy chain in India.
(Source: VC Circle 10June, 2020)
ICICI Venture, Apollo Global to end joint venture AION Capital:
Homegrown private equity firm ICICI Venture – a unit of ICICI Bank, and US based Apollo Global Management Inc. are ending their nine-year-old joint venture and plan to make investment separately.
(Source: VC Circle 10June, 2020)
Saudi Arabian wealth fund to invest $1.5 Bn in Reliance’s Jio Platforms:
Saudi Arabia’s Public Investment Fund (PIF) will invest Rs 11,367 Cr ($ 1.5 billion) in Jio platforms Ltd. The Saudi Arabian sovereign wealth fund will get a 2.32% stake in Jio Platforms.
(Source: VC Circle 18June, 2020)
Tuition platform Vedantu invests in Noida based edtech startup:
Online tutoring platform Vedantu Innovations Pvt Ltd has made a strategic investment in an NCR based edtech startup in its latest transactions.
(Source: VC Circle 22June, 2020)
Carlyle bets on Piramal Pharma in its biggest India healthcare deal:
Private equity firm Carlyle has agreed to acquire a 20% stake in the pharmaceuticals business of Piramal Enterprises Ltd for about $490 million (around Rs 3700 Cr) in its fourth and the biggest healthcare deal in India.
(Source: VC Circle 27June, 2020)
Venture Capital
Matrix backed dairy startup country Delight raises fresh capital:
Milk producer and distributor Country Delight has raised fresh capital in a mix of equity and venture debt. The Gurugram based company has raised around Rs 58 crore (around $7.73 million) in total as a part of fresh funding round.
(Source: VC Circle 04June, 2020)
Japan’s Gojo & Company invests in Aviom India Housing Finance:
Gojo & Company Inc., a japan based firm that holds stakes in microlenders, has made a $3.7 million investment in its portfolio firm Avion India Housing Finance Pvt Ltd.
(Source: VC Circle 05June, 2020)
Nexus Venture Partners leads Series A funding for Yolobus
YoloTravelTech Pvt Ltd which operates inter-city transportation and mobility platform Yolo, has raised $3.3 Mn in its Series A round of funding led by Nexus Venture Partners.
(Source: VC Circle 08June, 2020)
Anand Mahindra bets on Gurugram based – startup Hapramp Studio
Mahindra Group chairperson Anand Mahindra has invested $1 million (approximately Rs 7.55 Cr) in a seed funding round in Hapramp Studio, which is seeking to build out an Indian owned and regulated social media creative platforms.
(Source: VC Circle 10June, 2020)
Beenext raises $110 Mn fund to invest in India, Southeast Asia
Singapore based venture capital firm Beenext has raised $110 Mn for a fund aimed at startups in India and Southeast Asia. The firm also raised $50 million for another vehicle focused on SaaS business in Japan.
(Source: VC Circle 16June, 2020)
CapitalG leads Series E funding round in Aye Finance:
Aye Finance Pvt Ltd, a non-banking financial technology company focussed on micro, small and medium enterprises, has raised Rs 210 Cr in its Series E funding round.
(Source: VC Circle 24June, 2020)
Amazon pledges $2 Bn venture capital fund to invest in clean energy:
Amazon.com Inc. will launch a $2 billion venture capital fund that will focus on technology investments to reduce the impact of climate change & support sustainable development.
(Source: VC Circle 24June, 2020)
Mergers & Acquisition
ReNew Power to acquire AI startup Climate Connect:
ReNew Power Pvt Ltd has agreed to acquire Regent Climate Connect Knowledge Solution Pvt Ltd, an artificial intelligence (AI) and machine learning company that specialises in the power markets domain.
(Source: VC Circle 04June, 2020)
Adar Poonawalla-backed clean tech startup h2e power acquires Swiss firm Hexis:
Clean Technology startup h2e Power Inc., which is backed by Serum Institute of India chief executive officer Adar Poonawalla, has fully acquired Swiss fuel cell company Hexis AG.
(Source: VC Circle 08June, 2020)
Cipla buys stake in health tech startup GoApptiv:
Cipla Ltd, has agreed to pick a stake in GoApptiv Pvt Ltd, in Indian drugmaker’s second such bet on a digital healthcare startup since last year. Cipla will acquire a 21.85% stake in GoApptiv for a cash consideration of Rs 9 Crore.
(Source: VC Circle 10June, 2020)
Tata Power subsidiary to sell three ships to German firm:
Singapore based Trust Energy Resources Pte Ltd (TERPL), a subsidiary of Tata Power Company Ltd, has announced that it will sell its three ships to a German firm for $212.76 million (approx. Rs 1614.43 Cr).
(Source: VC Circle 12June, 2020)
PE-backed Shilpa Medicare to acquire pharma company firm, pick up 40% stake in another:
Shilpa Medicare Ltd, a Hyderabad based active pharmaceuticals ingredients (APIs) and formulations developers, will acquire one pharmaceuticals company and pick up a 40% stake in another.
(Source: VC Circle 17June, 2020)
Piramal Pharma acquires G&W Laboratories drug manufacturing facility in US:
Piramal Pharma Solution (PPS), the contract development and manufacturing organisation (CDMO) arm of the diversified Piramal Enterprise Ltd (PEL), has acquired a solid oral dosage drug manufacturing facility from the US-based G&W Laboratories Inc.
(Source: VC Circle 22June, 2020)
Adani to acquire stake in Odisha Power as AES exists after two decades:
New York listed AES Corp has agreed to sell its 49% stake in Odisha Power Generation Corp to Adani Power Limited. The US based energy company will sell the stake in Odisha Power for $135 million (Rs 1,020 Cr) in cash.
(Source: VC Circle 23June, 2020)