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ADIA, HarbourVest, Blackstone REIT eye deals; Sabre Partners raises new fund
VCCircle
ยท
1y ago
Medial
ADIA and HarbourVest are reportedly in talks to acquire a minority stake in Cohance Lifesciences, with a potential investment of $350-400 million. Meanwhile, Blackstone REIT is also eyeing deals in India. In other news, Sabre Partners has raised a new fund.
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ChrysCapital raises $700 mn to keep NSE stake, return capital to sixth fundโs LPs
VCCircle
ยท
1y ago
Medial
Private equity firm ChrysCapital has raised $700 million for a "continuation fund" to acquire the stake it holds in the National Stock Exchange (NSE). The fund has been anchored by US-based HarbourVest Partners, and European firms LGT Capital Partners and Pantheon Ventures. ChrysCapital used the fresh capital to buy out its Fund VI from the NSE, allowing it to return money to investors while giving new investors exposure to the Indian stock exchange. ChrysCapital has raised over $5 billion across nine funds and has invested more than $4 billion in over 100 deals.
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PE Firm ChrysCapital Closes $700 Mn Continuation Fund
Inc42
ยท
1y ago
Medial
Private equity firm ChrysCapital has closed a $700 million Continuation Fund, anchored by US-based HarbourVest Partners and European funds LGT Capital Partners and Pantheon Ventures. The fund will allow ChrysCapital to maintain its stake in the National Stock Exchange (NSE) as it acquires ChrysCapital Fund VI's stake in the stock exchange. ChrysCapital claims to be the largest PE firm of its kind in India, having raised over $5 billion across nine funds and invested over $4 billion in more than 100 deals. The announcement comes amidst a series of new fund launches in the VC and PE space in India.
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Blackstone set to sell full stake in Embassy Office Parks REIT
VCCircle
ยท
1y ago
Medial
Blackstone is set to sell its entire stake of 23.59% in Embassy Office Parks, India's largest real estate investment trust, for $833 million. The sale will be conducted through block deals in the secondary market at a 7.7% discount to the unit price. This marks Blackstone's exit from India's first ever listed REIT, following its sale of Mindspace Business Parks REIT in 2022. Embassy Office Parks owns and operates more than 45.3 million square feet of office parks and buildings in major Indian cities.
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Marquee sovereign funds bet over $50 mn on Blackstone-backed Indian company
VCCircle
ยท
7m ago
Medial
Three prominent sovereign wealth funds, including Norway's Government Pension Fund Global, Singapore's GIC, and the UAE's Abu Dhabi Investment Authority (ADIA), have made significant investments in an Indian company backed by Blackstone. These funds have been actively investing in India for some time now and have chosen to invest in the company related to the world's largest private equity firm. The exact amount of their investment has not been disclosed.
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Abu Dhabi's ADIA explores investment in India's Pocket FM, sources say
TechCrunch
ยท
1y ago
Medial
Abu Dhabi's sovereign wealth fund, ADIA, is holding talks to back Indian audio-storytelling platform Pocket FM in a new funding round. Pocket FM recently secured around $100 million in funding from Lightspeed Venture Partners. The talks with ADIA have been ongoing for over a month and are currently confidential. Pocket FM has seen rapid revenue growth and aims to reach an annualized revenue run rate of $100 million by the end of 2023. Pocket FM offers a freemium model, allowing users to pay for the content they prefer rather than the entire library.
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Purplle Snags $100 Mn From ADIA, Others With Eye On More Offline Stores
Inc42
ยท
1y ago
Medial
Abu Dhabi's sovereign fund ADIA has led a funding round for beauty ecommerce marketplace Purplle, contributing $100 million. The investment from ADIA, alongside participation from new investor Creaegis, valued Purplle at $1.2-1.3 billion, a 15% increase from its previous funding round in 2020. Purplle, founded in 2012, sells beauty products and appliances, and this new funding will support its growth and expansion in the Indian market.
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PE firm Multiples closes $430 Mn continuation fund
Entrackr
ยท
1m ago
Medial
Private equity firm Multiples Alternate Asset Management has raised $430 million for a continuation fund to extend its investment in three portfolio companies โ 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 โ 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.
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Funds make a beeline for beauty platforms; Purplle raises $100 million
Economic Times
ยท
1y ago
Medial
Abu Dhabi's sovereign fund ADIA has led a $100 million financing in Mumbai-based beauty retailer Purplle, valuing the company at around $1.2-1.3 billion. This reflects the growing demand for omnichannel beauty retailers and brands post-Covid, attracting significant investment from venture capital and private equity funds. Creaegis, a PE fund, is expected to join the funding round as a new investor. Meanwhile, caffeine-based skincare and haircare brand MCaffeine is also in the process of raising funds and considering strategic investors. The beauty sector in India is witnessing the emergence of several new brands, attracting investor interest and driving growth.
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Nuveen-backed Aviom India in talks for fresh capital, may tap new global investor
VCCircle
ยท
11m ago
Medial
Nuveen-backed Aviom India Housing Finance is reportedly in discussions for a new round of funding from external investors as it plans to double its assets under management. The micro-mortgage lender, supported by Nuveen and Sabre Partners, recently completed its Series D funding round and is now seeking additional capital to fuel its growth.
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Blackstone seeks to raise at least $10 bn in new Asia PE fund, focusing on India
VCCircle
ยท
9m ago
Medial
- Blackstone, the largest alternative asset manager, is raising a new Asia-focused private equity fund targeting at least $10 billion. - The fund will primarily focus on India, with the largest portion of capital allocated there. - China will not be included as a market for the new fund. - Japan and Australia will be significant markets, and Blackstone is exploring opportunities in South Korea and Singapore. - The fund's capital allocations may be adjusted based on the macroeconomic environment.
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