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• 3i CEO targets Indian infrastructure 15 Feb 2010. Source: AltAssets. UK private equity firm 3i is setting its sights on Indian infrastructure as the next source of flagship private equity returns, according to CEO Michael Queen. Speaking at the Super Return conference in Berlin, Queen reportedly claimed that the amount of investment necessary to address India’s infrastructure deficit could provide huge returns for the private equity industry.

• Accel Partners India gains principal 09 Feb 2010. Source: AltAssets. Anand Daniel, previously of Boston-based venture capital firm Flybridge Capital Partners, has left the US to return to India. He is now with Accel Partners as a principal, according to reports.

• India’s Ascent Capital collects $350m for first fund since spin out 05 Feb 2010. Source: AltAssets. Ascent Capital Advisors India has closed its Ascent India Fund III on $350m, which it will invest in growth capital opportunities, according to VCCircle.

• Quadrangle leads $300m India telecoms deal 03 Feb 2010. Source: AltAssets. New York private equity firm Quadrangle Capital Partners has led a $300m investment into Tower Vision India, a privately-held telecom tower manager, according to reports. Quadrangle led a consortium of eight international investors in the deal, which is said to be the firm’s first ever Asian investment.

• Guggenheim Partners puts $75m to work through its Indian FoF 02 Feb 2010. Source: AltAssets. Guggenheim Partners, the asset management firm which acquired the India-focused private equity fund of funds business of Thomas Weisel Partners in 2008, has completed several transactions in the Asian frontier market worth a total of $75m, according to VCCircle.

• India-focused PE firm BTS Investment Advisors to launch $150m green fund 29 Jan 2010. Source: AltAssets. BTS Investment Advisors, a Zurich-headquartered private equity firm that specialises in investments in India, is reportedly readying the launch of a new $150m fund.

• TPG in maiden Indian clean energy deal 28 Jan 2010. Source: AltAssets. US buy-out house TPG has made its first venture into India’s clean energy space by leading a £72m (€83.3m) fundraising for AIM-listed Greenko. The private equity firm, which counts energy corporation Energy Future Holdings in its portfolio, made a £21m (€24.3m) investment in the Hyderabad-based company.

• Everstone Capital targets $550m for second fund 22 Jan 2010. Source: AltAssets. Everstone Capital, the private equity arm of Mumbai-based Future Capital Holdings, has set its sights on a $550m fundraising for its second vehicle, according to reports. The firm is raising capital from offshore investors, and is expecting to close in three months.

• Indian mobile messaging service SMS GupShup calls in $12m 21 Jan 2010. Source: AltAssets. SMS GupShup, a social SMS service, has closed funding for a $12m round led by Globespan Capital Partners and additional financing from existing investors Charles River Ventures and Helion Venture Partners.

• India’s Aditya Birla closes with INR6.75bn, continues fundraise 19 Jan 2010. Source: AltAssets. Indian private equity firm Aditya Birla Capital Advisors has reached the first close of its debut fund with INR6.75bn ($147.7m) in commitments.

• TA Associates invests in India’s Micromax 12 Jan 2010. Source: AltAssets. Growth equity firm TA Associates has taken a minority stake in Indian mobile handset provider Micromax Informatics for $45m, in the firm's second deal of the week.

• Indian PE investment in 2009 down nearly two thirds from previous year 12 Jan 2010. Source: AltAssets. Private equity investment in India was down nearly two thirds year on year in 2009, with $3.824bn invested over 232 deals, compared to $10.468bn across 443 deals in 2008, according to Venture Intelligence.

• Indian remote tech support firm iYogi taps into $15m 07 Jan 2010. Source: AltAssets. iYogi, an on-demand consumer remote tech support services provider headquartered in India, has raised $15m to accelerate the company’s continued global growth. Draper Fisher Jurvetson joined continuing investors Canaan Partners, SAP Ventures, and SVB India Capital Partners in the new financing.

• India’s Yes Bank and GEF raise $200m PE fund for cleantech investments 07 Jan 2010. Source: AltAssets. India’s Yes Bank and US private equity investor Global Environment Fund (GEF) are set to raise a $200m cleantech private equity fund, according to reports.

• India Capital Growth Fund expands team with new hire 04 Jan 2010. Source: AltAssets. India Investment Partners, the manager of India Capital Growth Fund, has appointed David Cornell, who joins the fund management team in London.

• DAR Capital to launch Indian film financing fund 04 Jan 2010. Source: AltAssets. DAR Capital Group, a London-based private equity company, is preparing the launch of an INR1.5bn ($32.4m) to INR2bn ($43.2m) fund that will invest in Indian film projects, according to the Financial Express.

• Goldman Sachs Capital Partners invests $115m in Max India 04 Jan 2010. Source: AltAssets. The private equity arm of Goldman Sachs, Goldman Sachs Capital Partners, has invested INR5.4bn ($115m) in Max India, an Indian health and insurance-focused multi-business corporation.

• Bain Capital takes stake in India’s Himadri Chemicals for $124m 04 Jan 2010. Source: AltAssets. Indian chemicals company Himadri Chemicals and Industries has approved an issuance of 6.31 million shares to private equity firm Bain Capital India Investments, at INR400 ($8.63) per share, resulting in an equity raise of INR2.52bn ($54.4m).

• Indian airline Kingfisher in talks with PE firms over $400m funding 30 Dec 2009. Source: AltAssets. Indian private carrier Kingfisher Airlines is negotiating $400m in funding from private equity players Carlyle, TPG and Abu Dhabi’s Aabar Investments, according to a report by The Financial Express.

• UK government-backed FoF CDC commits €10m to India renewables fund 11 Dec 2009. Source: AltAssets. UK development finance institution CDC Group has committed €10m to an investment fund that will back renewable energy projects in India and other developing countries in Asia.

• Indian rural banking facilitator FINO gets growth capital funding 09 Dec 2009. Source: AltAssets. Financial Information Network and Operations (FINO), a provider of technologies to enable financial institutions to serve the unbanked population in India, has raised growth capital of INR700m ($15m) from HSBC Private Equity Asia and existing shareholders Intel Capital and International Finance Corporation (IFC).

• Edelweiss Capital raises $105m for first close of Indian special situations fund 09 Dec 2009. Source: AltAssets. Indian financial services firm Edelweiss Capital has held the first close of a fund focused on special situations, EW Special Opportunities Fund, on $105m.

• Carlyle, Apax, KKR mull ICICI stake in 3i Infotech 08 Dec 2009. Source: AltAssets. Private equity firms Carlyle, Apax and KKR are considering the purchase of ICICI’s 27 per cent stake in IT firm 3i Infotech, according to Indian newspaper the Economic Times.