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News on Medial
British International Investment signs off from an India bet with a bummer
VCCircle
·
3m ago
Medial
British International Investment (BII), the UK government's development finance unit, ended its decade-long investment in India with a significant loss. Over six years, BII made multiple rounds of investments in a single portfolio company. After heavily investing, BII has now exited this venture, marking a setback in its private equity efforts in India.
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How Partners Group, BII booked a big loss on logistics bet but Warburg eked out a profit
VCCircle
·
4m ago
Medial
Partners Group and British International Investment, a UK-backed finance institution, incurred significant losses by selling their stakes in an Indian logistics firm, while Warburg Pincus, a US-based private equity firm, managed to secure a profit.
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Elevation signs off from decade-old bet with over $100 mn
VCCircle
·
1y ago
Medial
Venture capital firm Elevation Capital has sold off its stake in a decade-old investment, making a significant profit. Elevation Capital, known for its active investment in Indian technology startups, raised $670 million under a new fund two years ago. The recent stake sale indicates a successful exit from their earlier investment. Further details about the sale and the specific investment were not provided in the summary.
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Bummer redefines innerwear with sustainable styles for millennials
Inshorts
·
2m ago
Medial
Sulay Lavsi's Bummer redefined innerwear with ultra-soft, sustainable fabrics targeting millennials. They secured ₹75 lakh for 7.5% equity from Namita Thapar and Aman Gupta. Post-investment, Bummer expanded its product range and strengthened its online presence, resonating with eco-conscious consumers.
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TPG Growth virtually writes off a legacy India bet with deep haircut
VCCircle
·
1y ago
Medial
TPG Growth, the growth capital investment arm of TPG, has decided to write off a legacy investment in India. The private equity firm had made a $30 million investment in a company over a decade ago but has now signed off from the deal. This move indicates a substantial loss for TPG Growth in relation to its initial investment.
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Rivendell signs off from a legacy India PE bet with a haircut
VCCircle
·
10m ago
Medial
Private equity firm Rivendell PE, co-founded by Parag Saxena and Rajat Gupta, has sold off its legacy investments in India at a reduced value. Rivendell had stopped making new investments over a decade ago and had been managing its existing portfolio since then. This marks the end of Rivendell's presence in the Indian private equity market, as it moves on from its previous investments.
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Oman India PE fund hires former BII exec as CEO, raising third fund
VCCircle
·
4m ago
Medial
The Oman India Joint Investment Fund (OIJIF), a private equity fund manager backed by the Oman Investment Authority (OIA) and State Bank of India (SBI), has appointed Satish Chavva as CEO, effective April 1. Previously with British International Investment, Chavva is set to lead OIJIF as it prepares to raise its third fund. The regulatory approval for this new fund has already been secured, marking an important milestone for the organization.
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Bain Capital stares at modest returns from another legacy India bet
VCCircle
·
1y ago
Medial
Bain Capital, a global private equity firm, is set to see modest returns from its investment in India. The firm has been actively investing in India and has recently exited two portfolio companies. This year, Bain Capital has signed off on three new deals in the country. However, the returns from this latest investment are expected to be less impressive compared to previous ventures.
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'Yeh sab doglapan hai' was brutally used on him: Namita on pic with Bummer Founder
Inshorts
·
2y ago
Medial
Namita Thapar, in an Instagram post, shared a photo with Sulay Lavsi, the founder of Bummer, and highlighted his resilience. Thapar mentioned that Lavsi faced harsh criticism with the phrase "'Yeh sab doglapan hai'" but remained composed and self-assured. Thapar also revealed that Bummer had annual sales of ₹60 lakh when Lavsi appeared on Shark Tank India season one, and by the end of FY23, the company's sales had increased to ₹11 crore.
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D2C apparel startup Bummer raises Rs 9.25 crore led by Nikhil Kamath's Gruhas Collective
IndianStartupNews
·
1y ago
Medial
Indian D2C innerwear startup Bummer has raised INR 9.25 crore ($1.1 million) in a pre-Series A1 funding round led by Gruhas Collective Consumer Fund, co-founded by Zerodha's Nikhil Kamath. The funds will be used to expand the brand's omnichannel presence, with a focus on targeting Tier-II, III, and IV cities in India. Bummer, known for its sustainable and innovative approach to innerwear, plans to launch its products in other Asian markets within the next two years. The investment reflects the growing D2C market in India, which is expected to reach $100 billion by 2025.
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Grow Indigo raises $10 Mn from British International Investment
Entrackr
·
4m ago
Medial
Grow Indigo raises $10 Mn from British International Investment Agritech startup Grow Indigo has raised $10 million from British International Investment (BII), the UK's development finance institution and impact investor. The proceeds will be used to accelerate the expansion of Grow Indigo's sustainability programs across India. Grow Indigo promotes sustainable techniques such as direct seeded rice and no-tillage farming that deliver enhanced soil health, reduced erosion, preserved biodiversity, improved water efficiency, and reduced manual labor, particularly benefiting women farmers. The company claims to have covered over 2.5 million acres of smallholder farmland already enrolled across 7 states. Grow Indigo also partners with food and fashion companies to facilitate sustainable sourcing and reduce their supply chain emissions. It has a presence across 16 states with over 2000 distribution partners and a 600-foot-on-ground team offering products from seed treatment to harvest.
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