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Advent, Multiples PE invest $230 mn in microlender Svatantra

VCCircle

VCCircle · 1y ago

Advent, Multiples PE invest $230 mn in microlender Svatantra

Advent International and Multiples PE have announced a joint investment of $230m in Indian microfinance company Svatantra Microfin. The deal will help Svatantra expand its operations and comes seven months after the announcement of its acquisition of Chaitanya India Fin Credit. Svatantra offers small loans to rural entrepreneurs, with a focus on female borrowers. The company claims to serve over 4.2 million customers across 20 states and manages an asset under management of around $1.8bn. The investment is subject to regulatory approval. Ananya Birla will retain a majority stake in the company.

Related News

Private equity firms at Svatantra Microfin's doorstep

Livemint

Livemint · 1y ago

Private equity firms at Svatantra Microfin's doorstep

Svatantra Microfin, India's second-largest microlender, is planning to raise ₹2,000 crore ($266 million) in a funding round led by Advent International and Multiples Private Equity. The Mumbai-based microfinance institution will utilize the funds to fuel its expansion and growth. This follows Svatantra's acquisition of Chaitanya Microfin last year, which boosted its assets under management to over ₹12,874 crore ($1.71 billion). Svatantra focuses on providing loans for agriculture and allied activities across 19 states in India and has become a key focus area for Ananya Birla, daughter of Aditya Birla Group chairman Kumar Mangalam Birla.

Sector scan: Why microfinance firms are bracing for growth slowdown

VCCircle

VCCircle · 10m ago

Sector scan: Why microfinance firms are bracing for growth slowdown

- India's microfinance sector experiences significant private equity transactions - Advent International and Multiples PE invest Rs 1,930 crore in Svatantra Microfin - Piramal Alternatives invests Rs 600 crore in Annapurna Finance - These investments reflect the growing interest in the microfinance sector - Microfinance firms are preparing for a potential growth slowdown - The sector is closely monitoring the impact of COVID-19 on borrower repayment capacity.

Ananya Birla's Svatantra Microfin receives $230M investment from Advent, Multiples

IndianStartupNews

IndianStartupNews · 1y ago

Ananya Birla's Svatantra Microfin receives $230M investment from Advent, Multiples

India-based microfinance company Svatantra Microfin has secured a $230m investment from private equity firms Advent International and Multiples Private Equity. The funding marks the largest private equity investment in India's microfinance sector to date. Ananya Birla, Chairperson of Svatantra, said the deal would help the company "become the foremost and most impactful microfinance institution." The investment is subject to regulatory approval from the Reserve Bank of India and Competition Commission of India.

Multiples PE nears deal for Smallcase stake

The Arc Web

The Arc Web · 1y ago

Multiples PE nears deal for Smallcase stake

Private equity firm Multiples Alternate Asset Management is considering leading a $30-40 million funding round for Smallcase, a digital investment platform backed by Zerodha and Amazon. This could value Smallcase at over $300 million. Multiples, which traditionally invests in profitable companies and fintechs, raised a $640-million fund in 2023. Smallcase, which bundles securities for retail investors, has 100 million users and facilitated $9.3 billion in investments. It seeks funds to bolster cash reserves and invest in Zerodha Fund House.

PE firm Multiples closes $430 Mn continuation fund

Entrackr

Entrackr · 2m ago

PE firm Multiples closes $430 Mn continuation fund

Private equity firm Multiples Alternate Asset Management has raised $430 million for a continuation fund to extend its investment in three portfolio companies — Vastu Housing Finance, Quantiphi, and APAC Financial Services. The transaction allows investors in Multiples Fund II to monetize their investments while enabling the firm to continue holding on to high-performing assets, according to a press release. The continuation fund, which was oversubscribed, is backed by four global investors — HarbourVest Partners, Hamilton Lane, LGT Capital Partners, and TPG NewQuest. Some existing Fund II investors have also rolled over their commitments into the new vehicle. Vastu Housing Finance is focused on affordable housing credit, Quantiphi provides AI and digital engineering solutions, and APAC Financial Services is an emerging financial platform with a growing nationwide presence. The fund also includes additional capital for follow-on investments in these companies. Renuka Ramnath-led Multiples has backed more than 35 companies and seen exits across IPOs, strategic sales, and secondary transactions.

Multiples PE leads $118-mn investment in Shubham Housing

VCCircle

VCCircle · 8m ago

Multiples PE leads $118-mn investment in Shubham Housing

Private equity firm Multiples PE has invested $118 million in Shubham Housing Development Finance Company Ltd in a Series F funding round. The round also saw participation from existing investors Asian Development Bank and British International Investment. The funding will be used to drive growth and expand Shubham Housing's presence. The company currently operates across 12 states in India and aims to increase its assets under management to $865 million by the end of the fiscal year. Multiples PE will hold a significant minority stake in Shubham Housing following the investment.

Multiples PE picks up majority stake in QBurst, plans more control deals

VCCircle

VCCircle · 6m ago

Multiples PE picks up majority stake in QBurst, plans more control deals

Multiples Alternate Asset Management, a private equity firm led by Renuka Ramnath, has acquired a controlling stake in QBurst with a $200 million investment. This marks the firm’s largest control investment in technology services, focusing on enterprise tech as a key sector. Multiples plans to invest nearly $2 billion in the segment over five years. QBurst will use the partnership to enhance talent, emerging tech investments, and strategic acquisitions, while its founders retain a significant stake.

Advent International to invest $296 mn in Apollo Hospital unit

VCCircle

VCCircle · 1y ago

Advent International to invest $296 mn in Apollo Hospital unit

US private equity firm, Advent International, has agreed to invest INR 2,475 crore ($296m) to acquire a minority stake in Apollo HealthCo. The investment will allow for the merger of wholesale pharma distribution company Keimed and digital healthcare business Apollo 24/7. Advent will invest in two tranches to acquire a 12.1% stake in the merged entity, giving Apollo HealthCo an enterprise value of INR 22,481 crore. Following the merger, Apollo Hospitals will remain the largest controlling shareholder with a stake of at least 59.2%.

Multiples PE eyes Ebco; GIC, ADIA join PE consortium for Haldiram deal

VCCircle

VCCircle · 1y ago

Multiples PE eyes Ebco; GIC, ADIA join PE consortium for Haldiram deal

Indian private equity firm Multiples Asset Management is in advanced talks to acquire a controlling stake in furniture hardware company Ebco. If the negotiations are successful, Multiples will become the majority owner of Ebco. However, other investors are reportedly involved in the deal as well.

Multiples PE makes final close of fourth fund; stops short of hard cap

VCCircle

VCCircle · 10m ago

Multiples PE makes final close of fourth fund; stops short of hard cap

- Multiples PE has successfully closed its fourth fund, raising over $2.6 billion. - The private equity firm, founded by Renuka Ramnath in 2009, reached its fundraising goal but stopped short of its hard cap. - The fourth investment vehicle will add to Multiples PE's already substantial assets under management. - Multiples PE has established itself as a prominent player in the private equity industry. - Renuka Ramnath, the CEO and founder of Multiples PE, has been instrumental in the firm's growth and success.

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