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News on Medial
Premji Invest, Macquarie, KKR, Shiprocket, Corona Remedies, Ola in news
VCCircle
·
8m ago
Medial
A consortium led by Premji Invest and Claypond Capital is poised to acquire a notable minority stake in an airline. In other news, KKR is reportedly interested in investing in Rebel Foods, while a senior executive at Ola has tendered their resignation. Additionally, Shiprocket and Shivalaya Ventures have entered into a partnership, and Corona Remedies has received regulatory approval for a new drug.
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Related News
Grapevine: Three firms make cut for Avendus; suitors line up for HUL ice-cream unit
VCCircle
·
11m ago
Medial
Carlyle, Premji Invest, and Mizuho Financial Group are in the running to acquire Avendus Capital from KKR. TPG Capital and TA Associates also showed interest but did not make the cut. The three remaining contenders are proceeding with due diligence, and final offers are expected soon. In other news, Hindustan Unilever's ice-cream business is attracting suitors, with potential buyers showing interest in acquiring the unit.
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Azim Premji’s family office crosses $10 bn in managed assets
The Arc Web
·
1y ago
Medial
Premji Invest, the family office of Wipro founder chairman Azim Premji, has rapidly grown its assets under management to over $10 billion, with a potential value exceeding $14 billion. With investments in both public and private companies in India and the US, the firm's overseas assets under management are estimated at around $4 billion. The philanthropic entity Azim Premji Foundation serves as the sole limited partner of Premji Invest, contributing approximately $2-3 billion to its investments. Premji Invest, accounting for roughly one-third of Wipro's market cap, supports the foundation through its profits and proceeds.
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Premji Invest In Talks To Invest $10-$15 Mn In AI Startup Galileo
Inc42
·
11m ago
Medial
Premji Invest, the investment arm of Indian conglomerate Wipro, is set to invest $100 million in US-based data intelligence firm Galileo. The funding will be part of Galileo's Series B round and marks Premji Invest's fifth AI investment this year. Galileo develops data intelligence tools that help improve the accuracy of machine-learning models. Earlier this year, Premji Invest invested in Hippocratic AI, Hugging Face, Canva, and Poolside.
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Azim Premji's office bets on AI ventures for $10 bn Premji Invest fund: Report
Livemint
·
1y ago
Medial
Premji Invest, the family office of Azim Premji, plans to increase its investments in artificial intelligence (AI) companies. The focus will be on refining its proprietary AI investment tools and developing an AI quant model for public market bets. Premji Invest has been using AI tools in private equity and is among the first large Indian asset managers to do so. The firm aims to gain a bird's eye view of emerging technologies and trends through its AI investments. Premji Invest has backed AI sector firms such as Cohesity Inc., Holistic AI, Ikigai, and Pixis.
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Premji Invest, Ranjan Pai look to invest $125 million in Akasa Air
Economic Times
·
1y ago
Medial
Premji Invest and Claypond Capital, the family offices of Azim Premji and Ranjan Pai, are in talks to invest $125 million for a minority stake in Indian airline Akasa Air. The funding would give Akasa a valuation of over $350 million, more than four times its initial investment. The investment will be used for expansion and making pre-delivery payments for aircraft. The Jhunjhunwala family and CEO Vinay Dube's stake in the company will be diluted. Premji Invest and Claypond are interested in well-run, consumer-facing startups with a large market.
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Premji Invest in advanced talks for big stake in Bank of Baroda’s Nainital Bank
Economic Times
·
1y ago
Medial
Premji Invest, the family office of Wipro founder Azim Premji, is reportedly in advanced discussions to acquire a majority stake in Nainital Bank, a subsidiary of Bank of Baroda. The proposed investment is estimated to value the Uttarakhand-based lender at around Rs 800 crore. While Premji Invest has signed a term sheet and completed due diligence, a final decision is pending. Bank of Baroda, which currently owns about 98% of Nainital Bank, is expected to divest its entire shareholding. This marks Premji Invest's first investment in a bank, as they mainly focus on the technology and startup sectors.
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Shiprocket has big plans for offline ecommerce space
Economic Times
·
1y ago
Medial
Zomato-backed ecommerce platform Shiprocket is expanding its services to enable ecommerce transactions for offline general trade. The company has launched a WhatsApp storefront bot and introduced a quick shipping service called Shiprocket Quick. Shiprocket has partnered with hyperlocal logistics platforms, including Ola and Porter, to offer their delivery fleets to customers. The new services aim to cater to the growing demand for quick deliveries and help offline merchants stay competitive in the digital age. Shiprocket is also targeting revenue from additional services such as marketing, sourcing, payments, and lending for online sellers.
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Bain, KKR, CPPIB eye new deals; Advent moves ahead with twin exits
VCCircle
·
1y ago
Medial
Bain Capital is reportedly in talks with Macquarie Capital to acquire a majority stake in a green power provider for commercial and industrial units. This comes after Bain Capital recently sold a 1.1% stake in Axis Bank. Additionally, KKR and Canada Pension Plan Investment Board are also said to be eyeing new deals, while Advent is progressing with two exits.
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Grapevine: Imperial Blue, KKR, OTPP, Akzo Nobel, InCred, and Enel Group in news
VCCircle
·
8m ago
Medial
The sale process of Pernod Ricard's Imperial Blue whiskey, Akzo Nobel India Ltd, and Enel Group's renewable energy assets in India is progressing, as reported by various media outlets. Additionally, KKR and OTPP are planning to invest in Highways Infrastructure Trust, while InCred Financial Services Ltd has announced its plans.
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Brookfield, KKR, Kotak Alts, Weikfield Foods in news
VCCircle
·
4m ago
Medial
Brookfield Asset Management Inc is negotiating to acquire a majority stake in Indian waste management company Re Sustainability from private equity firm KKR. Previously, KKR invested $530 million in Re Sustainability, formerly known as Ramky Enviro Engineers Ltd, in August.
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