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Fintech venture Mintoak may get $300 mn tag as two investors set for exit

VCCircle

VCCircle · 8m ago

Fintech venture Mintoak may get $300 mn tag as two investors set for exit

Fintech company Mintoak Innovations Pvt Ltd, which previously raised $20 million in Series A funding, may be valued at around $300 million in its latest funding round. This new valuation has sparked the interest of two investors who are considering an exit from the company. Mintoak focuses on providing fintech solutions and has been steadily growing in the industry.

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IIFL Fintech Fund collects $23 mn in second outing

VCCircle

VCCircle · 7m ago

IIFL Fintech Fund collects $23 mn in second outing

IIFL Fintech Fund, part of India's IIFL Group, has closed its second fintech fund at Rs 200 crore ($23 million), matching its first fund. Unlike the first fund, which had backing from IIFL companies, the new fund attracted wealthy individual investors and family offices. The fund targets investments in burgeoning fintech sectors, including AI. Over three years, IIFL Fintech has invested in 14 fintech firms, achieving notable revenue growth and a profitable exit from TrustCheckr.

PE investors of Fortis-controlled Agilus may finally get an exit

VCCircle

VCCircle · 1y ago

PE investors of Fortis-controlled Agilus may finally get an exit

International Finance Corporation and two other private equity investors, Jacob Ballas and Resurgence PE Investments, are said to be looking to exit Agilus Diagnostics, a company controlled by Fortis Healthcare. The investors have been attempting to sell their stake in Agilus, formerly known as SRL Diagnostics, for some time. This potential exit may allow them to finally exit the Gurugram-based company.

Warburg Pincus wraps up $270 mn India exit but falls short of benchmark

VCCircle

VCCircle · 11m ago

Warburg Pincus wraps up $270 mn India exit but falls short of benchmark

Private equity firm Warburg Pincus has completed its exit from India, which falls short of the benchmark set in the market. The firm has been taking advantage of high market valuations and has recently signed off from a pharmacy retail chain it backed a decade ago. Warburg Pincus has been on an exit spree in India for the past two years.

Exfinity clocks an exit as semiconductor firm NXP buys portfolio company

VCCircle

VCCircle · 6m ago

Exfinity clocks an exit as semiconductor firm NXP buys portfolio company

Exfinity Venture Partners, led by former Infosys finance chief V Balakrishnan, has successfully exited from a venture as semiconductor company NXP acquires its portfolio company. This significant move allows Exfinity to return the entire corpus of its second fund, amounting to Rs 300 crore, to its investors. The transaction marks another successful exit for Exfinity, reinforcing its reputation for generating profitable returns from its investments in early-stage technology firms.

60% of Indian unicorn founders achieved $1-billion valuation in maiden attempt: report

Economic Times

Economic Times · 10m ago

60% of Indian unicorn founders achieved $1-billion valuation in maiden attempt: report

- 60% of India's unicorn founders built their startups valued at over $1 billion in their first attempt. - India's startup ecosystem has produced over 100 unicorns, but the pace of unicorn creation has slowed down in the last two years. - Fintech sector in India is projected to have 150 unicorns worth $500 billion by 2030 in areas like payments, lending, insurtech, wealthtech, and neobanking. - Venture capital firms and investors value founders who have previously faced failure and bounced back, seeing them as individuals with grit and adaptability. - Late-stage funding and the presence of investors like SoftBank and Tiger Global greatly influence the creation of unicorns. - Founders sometimes get carried away with valuations, which may not always be the best thing for the company's growth and sustainability.

Over 20 Startups Set To Secure $110 Mn At 9Unicorns’ Fifth DDay

Inc42 · 1y ago

Over 20 Startups Set To Secure $110 Mn At 9Unicorns’ Fifth DDay

9Unicorns, a multi-stage accelerator fund, will be hosting its fifth edition of Global Demo Day (DDay) on April 24, 2024. More than 20 startups are set to present their disruptive ideas to global investors from sectors like ecommerce, energy, SaaS, fintech, etc. The portfolio startups of 9Unicorns and Venture Catalysts are projected to secure $110 million in funding during this event. With previous DDay editions raising over $472 million collectively, this event provides an opportunity for startups to gain international exposure and connect with investors worldwide.

How Peak XV turned $25 mn bet on a non-tech company to over $300 mn exit

VCCircle

VCCircle · 11m ago

How Peak XV turned $25 mn bet on a non-tech company to over $300 mn exit

Peak XV Partners, a venture capital firm formerly known as Sequoia Capital India and Southeast Asia, has enjoyed success with its investment strategy. After seeing the valuation of portfolio company Awfis double within three months of listing, the firm has now sold another company it invested in a decade ago for a significant profit. Despite not being a tech company, Peak XV's $25 million bet turned into a successful exit worth over $300 million. This highlights the firm's expertise in identifying and nurturing successful non-tech businesses.

Dubai’s MEVP scores maiden ‘dragon’ exit and first full harvest from second VC fund

VCCircle

VCCircle · 1y ago

Dubai’s MEVP scores maiden ‘dragon’ exit and first full harvest from second VC fund

Dubai-based venture capital firm, Middle East Venture Partners (MEVP), has achieved its first full exit and "dragon" exit from its second fund. MEVP, which manages assets worth over $300 million, has successfully monetized its investment in an undisclosed tech startup. This milestone marks the firm's continued success in investing in early- and growth-stage tech startups in the Middle East region.

Z3Partners bets on Mintoak as early investors trim stake

VCCircle

VCCircle · 7m ago

Z3Partners bets on Mintoak as early investors trim stake

Z3Partners, a venture capital firm, is acquiring a minority stake in Mintoak Innovations, a software-as-a-service platform. The investment, amounting to Rs 71 crore ($8.3 million), involves purchasing shares from some of Mintoak's initial investors. Previously, Mintoak raised $20 million in Series A funding in February 2023. The platform supports banks and merchant acquirers, processing over $50 billion in annual transactions, with notable clients including HDFC Bank and State Bank of India.

VC firm Lightbox considers $100-mn continuation fund to back mature startups

Livemint

Livemint · 1y ago

VC firm Lightbox considers $100-mn continuation fund to back mature startups

Venture capital firm Lightbox is considering launching a continuation fund worth at least $100 million, aimed at supporting its mature portfolio companies like Rebel Foods, Zeno Health, Furlenco, and PayMate. The fund will provide an exit for limited partners while allowing Lightbox to remain invested in high-performing companies. It may also invest in startups such as Amaha, Rooter, and Cityflo. Continuation funds are gaining popularity in India, with several investors looking for liquidity options. The size of Lightbox's fund will depend on deal structures and it will focus on companies demonstrating a clear path to liquidity.

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