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LACERA decreases venture capital allocation range, cites market conditions

TechCrunchTechCrunch ยท 1y ago
LACERA decreases venture capital allocation range, cites market conditions
Medial

The Los Angeles County Employees Retirement Association (LACERA) has voted to decrease its allocation range to venture capital and growth equity. Currently, LACERA's venture portfolio is 10.8% of its private equity portfolio. While some experts view this as a puzzling move, others believe it is more of a one-off and not indicative of a broader trend. LPs like pensions are less likely to decrease their allocation to venture, as they view the current market conditions as an opportunity to improve their access. However, LPs may write smaller checks and thus may not need as much money allocated to the strategy. LPs will also continue to focus on existing managers, preferring large, established funds during uncertain times. Overall, analysts do not expect significant changes in LP allocation to venture this year.

UPI crosses 20 Bn monthly transactions for first time in August

EntrackrEntrackr ยท 17d ago
UPI crosses 20 Bn monthly transactions for first time in August
Medial

News: UPI crosses 20 Bn monthly transactions for first time in August The Unified Payments Interface (UPI) crossed a major milestone in August 2025 by processing 20.01 billion transactions, the first time it has ever breached the 20 billion monthly mark. In terms of value, UPI recorded transactions worth Rs 24.85 lakh crore during the month. This milestone comes on the back of steady growth over the past few months. In June 2025, UPI clocked 18.40 billion transactions worth Rs 24.04 lakh crore. The following month, July, saw a sharp rise to 19.47 billion transactions, a 5.8% increase from June, with the transaction value climbing to Rs 25.08 lakh crore. In August, UPI transactions crossed the 20 billion mark, posting a 2.8% increase over July. While the total value slipped by 0.9% from the previous month, it still stayed comfortably higher than Juneโ€™s level. On a year-on-year basis, UPI volumes surged 34%, while the value of transactions jumped 21% in August. The average daily transaction count climbed to 645 million, and the daily value stood at Rs 80,177 crore. UPI also achieved a record of crossing 700 million transactions in a single day on August 2. This surge comes despite the ban on real money gaming platforms, which used to make up a significant share of UPI transactions. Most of these platforms started shutting down after Parliament passed the Promotion and Regulation of Online Gaming Bill, 2025 on August 21. The consistent rise from 18.40 billion transactions in June to 20.01 billion in August underscores the growing reliance on UPI for everyday payments, from peer-to-peer transfers to merchant transactions, cementing its position as the backbone of Indiaโ€™s digital payments ecosystem. As of July, PhonePe (8.93 billion) accounted for a commanding 45.88% share in terms of volume, followed by Google Pay (6.92 billion) with 35.56%. Of the total transaction value of Rs 25,08,498.09 crore, PhonePe held 48.64%, while Google Pay contributed 35.53%. In terms of merchant categories, groceries and supermarkets led UPI transactions with 3.03 billion (3,032 million) in volume and Rs 64,882 crore in value, followed by fast food at 1.22 billion and restaurants at 1.15 billion. Digital goods and games, which also include real money gaming, registered 351.24 million transactions worth Rs 10,076 crore. The breakup data for August is yet to be published by NPCI.

Deepinder Goyal enters billionaire club as his holding in Zomato crosses $1 Bn worth

EntrackrEntrackr ยท 1y ago
Deepinder Goyal enters billionaire club as his holding in Zomato crosses $1 Bn worth
Medial

Deepinder Goyal, founder and CEO of Zomato, has entered the billionaire dollar club as the value of his holdings in the foodtech firm surpassed Rs 8,400 crore. With this, Goyal joins the ranks of Sachin and Binny Bansal, Nikhil and Nitin Kamath, Vijay Shekhar Sharma, Byjuโ€™s Reveendran, and Ritesh Agarwal who hit a similar high at some point with their startupsโ€™ growth and valuation. As of March 31, 2024, Goyal owned a 4.19% stake in Zomato and had 36,94,71,500 shares. Since the Info Edge-backed firm recently hit its all time high share price ~Rs 232, the value of his personal holding crossed $1 billion. Zomato currently has a market capitalization of Rs 2,01,343 crore or $24.25 billion (as of 11.27 AM IST on July 15). With 36,94,71,500 equity shares, Deepinder Goyalโ€™s holdings are valued at Rs 8,423 crore ($1.01 billion), as per Entrackrโ€™s estimate. Food tech major also received shareholder approval to implement a new ESOP plan 2024 valued at $458 million. With the implementation of its new ESOP plan, the companyโ€™s total ESOP value surpassed $800 million. After Flipkart, Zomato seems to have the largest ESOP pool at the moment in the startup arena. In 2021, Oyoโ€™s ESOP pool was worth close to $1 billion followed by Paytm, Nykaa and Policybazaar. However, value of Oyo and Paytmโ€™s ESOP pool has nosedived since then in the wake of colossal loss in their valuations. While the holdings of bootstrapped startupโ€™s founders such as Kamath brothers and Sridhar Vembu fortune are estimated to exceed $1 billion, Goyal has turned out to be the new entrant in the billionaire club from the VC-backed ecosystem. The good times for Zomato have continued on the stock exchange despite the company increasing its platform fees to Rs 6 in Delhi and Bengaluru. The company introduced a platform fee of Rs 2 in August last year, which was increased to Rs 5 in April, and now stands at Rs 6 per order as the firm looks to improve margin. Swiggy also spiked its platform fee to Rs 6 in the two cities. Zomato showed a robust growth in the last fiscal year (FY24) as its revenue from operations surged 71% year-on-year to Rs 12,114 crore in FY24 from Rs 7,079 crore in FY22. Moreover, the profits of the company stood at Rs 351 crore in FY24 as compared to a loss of Rs 971 crore in FY23.

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