--- Connecting LPs & GPs worldwide
--- Connecting LPs & GPs worldwide
Indian private equity firm TVS Capital is planning to raise up to INR5bn ($110.3m) for an add-on fund.
According to news reports, the fund, the TVS Shriram Growth Fund IB, is a bolt-on to the Shriram Growth Fund (TSGF), and is expected to make its first close by December 2011.
The vehicle has a target of INR4bn ($88.3m), with a green shoe option to raise a further INR1bn ($22m) should the fund be oversubscribed.
The firm, which is headquartered in Chennai, has previously invested in privately held consumer companies, but is looking to invest in sectors such as manufacturing, as well as in listed companies, in the near future.
The aim of the TSGF fund is to develop and nurture India’s mid-cap businesses into global companies. The firm tends to invest in consumer growth companies that are at the intersection of high growth sectors, driven by the country’s macroeconomic trends. These include social infrastructure, physical infrastructure, specialty retail, processed foods, agriculture, media and entertainment sectors.
Copyright © 2011 AltAssets
The private equity arm of Indian infrastructure giant IDFC has announced a further INR800m ($17.9m) investment in renewable energy developer Green Infra, according to news reports.
Over the next two to three years, the New Delhi-based company has plans to develop a 1GW renewable energy capacity in India, spanning wind, solar, small hydro, biomass and energy efficiency sectors.
IDFC Private Equity has previously invested INR3.6bn ($80.5m) in Green Infra, which has helped the company create a 164MW portfolio.
Financing will be completed within the next two months, with plans to raise an additional $150m to $200m within the next two years.
Established in 2002, IDFC Private Equity is one of India’s largest firms specialising in infrastructure. It currently manages INR57bn ($1.27bn) in assets across three funds. It has so far made 32 investments in 28 companies.
Last year, the firm steered an investor group including Argonaut Ventures and Ascent Capital to invest INR4.65bn ($98.6m) in GMR Energy, a Bangalore-headquartered power generation corporation.
Copyright © 2011 AltAssets
The managing director of Indian private equity firm Milestone Capital Advisors has said it will invest $450m this year, Reuters reports.
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Indian listed private equity firm IL&FS Investment Managers is planning to start raising a $350m mid-market fund by the end of the year that will target both domestic and foreign investors.
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Multiples Alternate Asset Management, an Indian firm managed by the former managing director and CEO of ICICI Venture, has held a first close of its Domestic and International Fund on $250m.
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Ascent Capital Advisors India has closed its Ascent India Fund III on $350m, which it will invest in growth capital opportunities, according to VCCircle.
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Indian private equity firm Aditya Birla Capital Advisors has reached the first close of its debut fund with INR6.75bn ($147.7m) in commitments.
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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.
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ICICI Venture, the private equity arm of India’s ICICI bank, has completed the first close of its India Advantage Fund Series 3 on $250m, according to VCCircle.
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IDFC Private Equity, an Indian firm focused on infrastructure investments, is investing INR2.5bn ($51.3m) in Quippo Telecom Infrastructure, following its initial investment in its holding company Quippo Infrastructure Equipment in 2007, according to Indian newspaper Mint.
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Reliance Equity Advisors, a subsidiary of the Anil Ambani Group, has started fundraising for its debut private equity fund, according to reports.
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New Delhi-based private equity firm Jacob Ballas Capital India has joined India’s Kitara Capital in raising INR1.27bn ($27.6m) for Vivimed Labs, which produces and exports specialty pharmaceuticals and chemicals.
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