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News on Medial
Shriram Finance raising $500 mn via offshore vehicle, gets anchor investor
VCCircle
·
1y ago
Medial
Shriram Finance is raising $500 million through an offshore vehicle to support lending to micro, small, and medium enterprises in rural areas and low-income states. Singapore sovereign wealth fund GIC is among the shareholders, and International Finance Corporation is set to contribute as an anchor investor.
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Shriram Finance taps offshore investor to raise fresh capital
VCCircle
·
7m ago
Medial
Shriram Finance Ltd, a major non-banking finance company in India, is raising up to $850 million (approximately Rs 7,285 crore) to increase lending capacities. The firm has engaged an offshore investor for this capital boost. The funds will be utilized to expand lending to micro, small, and medium enterprises (MSMEs), supporting their growth and operations. This strategic financial move aims to enhance Shriram Finance's lending portfolio and reach within the sector.
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NBFCs turn top overseas borrowers in April with over $1.5 billion loans
Economic Times
·
1m ago
Medial
In April, non-banking finance companies (NBFCs) in India dominated overseas loan fundraising, raising over $1.53 billion out of a total $2.92 billion via external commercial borrowing. This trend follows the previous fiscal year. Notably, Shriram Finance led the borrowing with $955 million. NBFCs find overseas borrowing as a cost-effective alternative, especially as domestic bank lending to them slows. External borrowing allows them to diversify their funding and lower costs.
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JK Tyre raising $100 mn from offshore investor
VCCircle
·
8m ago
Medial
JK Tyre Group, a prominent Indian tyre manufacturer, is raising $100 million from an offshore investor. The funds will be used for their brownfield expansion projects and to refinance existing debt. This move will support the company's growth plans and enhance its financial position.
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Electric mobility company JBM gets $100 mn commitment from offshore investors
VCCircle
·
10m ago
Medial
JBM Ecolife Mobility, an electric mobility company, has received a commitment of $100 million from offshore investors. The company, a subsidiary of JBM Auto Ltd, won a tender for electric buses earlier this year and is now raising funds from the Asian Infrastructure Investment Bank (AIIB) as part of its expansion plans.
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AFC’s maiden climate resilient fund for Africa taps offshore LP for $750 mn vehicle
VCCircle
·
1y ago
Medial
AFC Capital Partners, the asset management unit of Africa Finance Corporation (AFC), is raising funds for its Infrastructure Climate Resilient Fund (ICRF) in Africa. With an anchor commitment of $253 million from the Green Climate Fund, AFC Capital is aiming to raise a total of $750 million for ICRF. The fund aims to finance climate resilience infrastructure projects across the continent. AFC Capital is currently seeking additional limited partners to contribute to the fund.
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EV financing no longer risky, says Shriram Finance's Umesh Revankar
Livemint
·
7m ago
Medial
Shriram Finance's executive vice-chairman, Umesh Revankar, states that electric vehicle (EV) financing is now less risky due to established manufacturers entering the space, enhancing technology reliability, and infrastructure. Shriram Finance launched a green vertical to support EVs and green projects, targeting ₹5,000 crore assets under management. Revankar emphasizes government action in public transport electrification as crucial for boosting EV adoption. The absence of a long-term strategy remains a challenge for the industry's growth.
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Darwinbox-backer Endiya Partners taps offshore LP for latest fund
VCCircle
·
9m ago
Medial
Early-stage investor Endiya Partners is set to receive a limited partner contribution from an offshore investor for its third venture capital fund. This comes as the company, known for backing startups like Darwinbox and Kissht, raised its third investment vehicle earlier this year with a target to secure funding. Further details about the offshore LP and the exact amount of contributions remain undisclosed.
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Investcorp unveils $750-mn climate fund, gets Bahrain SWF Mumtalakat as anchor
VCCircle
·
1y ago
Medial
Investcorp has announced the launch of a $750 million climate fund, named Climate Solutions Partners. The fund will focus on investing in commercially proven climate solutions across various sectors such as carbon management, building, transportation, and food and agriculture. Sovereign wealth fund Mumtalakat is serving as the anchor investor for the fund, although the specific investment amount remains undisclosed. This announcement comes during the United Nations climate summit COP28 and highlights Investcorp's ongoing diversification into different sectors.
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Investcorp unveils $750-mn climate fund, gets Bahrain SWF Mumtalakat as anchor
VCCircle
·
1y ago
Medial
Bahrain-based Investcorp has launched a $750m climate fund called Climate Solutions Partners, with sovereign wealth fund Mumtalakat as its anchor investor. The fund will invest in commercially proven climate solutions in areas such as carbon management, building, transportation, and food and agriculture. Mumtalakat did not disclose the amount it is investing. Investcorp, with $50bn in assets under management, has expanded beyond its luxury goods roots in recent years, diversifying into sectors including infrastructure, acquiring stakes in other general partners and insurance.
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Avaana nears target for $120 mn climate-tech fund with offshore LP on board
VCCircle
·
1y ago
Medial
Climate-tech venture capital firm Avaana Capital is close to reaching its target of $120 million for its maiden climate-tech fund. The firm recently secured a significant offshore investor as it moves towards its final close. Avaana Capital had already achieved a first close on the Avaana Sustainability Fund in June 2020, raising $70 million. The fund focuses on supporting startups that are developing innovative solutions to address climate change and promote sustainability.
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