Cactus Venture Partners raises Rs 630 for Startup Fund
Cactus Venture Partners closes maiden fund at Rs 630 crore Cactus Venture Partners, an India-focused early growth stage venture capital firm, has announced the final close of its maiden fund at Rs 630 crore ($75.8 million). The fund will invest in startups in health tech, climate tech and B2B SaaS sectors, with a cheque size […]
SHRESHTA: A Scheme for Progress
SHRESHTA is a new scheme launched by the government to provide quality residential education to meritorious SC students in the best private schools in the country. The scheme aims to empower SC students and facilitate their socio-economic progress. What is SHRESHTA? SHRESHTA stands for Scheme for Residential Education for Students in High Schools in Targeted […]
Shadowfax Stake Bought by NewQuest Gets CCI Nod
NewQuest Asia Fund IV (Singapore) Pte, a private equity fund of TPG Group, has received approval from the Competition Commission of India (CCI) to acquire a stake in Shadowfax Technologies, a tech-enabled logistics platform. What is Shadowfax Technologies? Shadowfax Technologies is a crowd-sourced and tech-enabled logistics platform that provides delivery services to various sectors such […]
Kotak Mahindra GI 70% Stake Bought by Zurich Insurance
Zurich Insurance Company Ltd., a leading global insurer, has received approval from the Competition Commission of India (CCI) to acquire up to 70% stake in Kotak Mahindra General Insurance Company Ltd. (Kotak Mahindra GI), a subsidiary of Kotak Mahindra Bank Ltd. The deal is expected to be completed by June 30, 2024. Background of Kotak […]
CPIH, AIL – II, Ontario Inc. Acquires Interise: CCI Approval
The Competition Commission of India (CCI) has approved the proposed combination involving acquisition of 100% shareholding of Interise Investment Managers Limited by the CPIH, AIL – II. and Ontario Inc. Who are the acquirers? CPIH, AIL – II and Ontario Inc. are the acquirers in this deal. CPPIB India Private Holdings Inc. (CIPH) is a […]
NHAI and Maharashtra Sign MoU for Ropeway Projects
The Maharashtra government has joined hands with the National Highways Logistic Management Limited (NHLML), a 100 per cent owned special purpose vehicle of the National Highway Authority of India (NHAI) for infrastructure development, to implement ropeway as part of the National Ropeway Programme ‘Parvatmala’. The state government has proposed a total of 40 ropeway projects […]
Flywire and SBI Simplify Payments for Foreign Students
Indian students who want to pursue their education abroad can now enjoy a hassle-free and convenient payment process, thanks to the partnership between Flywire Corporation and State Bank of India (SBI), the largest lender in India. The partnership aims to offer Indian students an advanced digital checkout experience for their international educational payments, ranging from […]
Digital Commerce Platform OTO Bags $10M from K L Rahul
OTO, a digital commerce and lending platform for two-wheelers, has raised $10 million in a funding round led by GMO Venture Partners. The round also saw participation from Turbostart, Indian cricketer K L Rahul, and a few other family offices. Existing investors Prime Venture Partners, Matrix Partners, and 9 Unicorns funds also joined the round. […]
HSBC Mutual Fund Introduces Multi Asset Allocation Offering
HSBC Mutual Fund has announced the launch of a new fund offering (NFO) for an open-ended scheme focused on multi asset allocation. The fund aims to invest the corpus in equity and equity-related instruments, debt and money market securities and gold/silver ETFs. The NFO will be open for subscription from February 8 to February 22, […]
Vanguard Reduces Ola Cabs’ Valuation by 30%
Ola Cabs, one of India’s leading ride-hailing companies, has faced a significant valuation cut by US asset manager Vanguard, one of its investors. According to a regulatory filing, Vanguard has reduced Ola’s valuation by 30% to under $2 billion, marking its third consecutive markdown in the past year. What does this mean for Ola? Ola […]