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News on Medial
How govt-backed development finance institution NaBFID has hit the ground running
VCCircle
·
4m ago
Medial
NaBFID, a government-backed development finance institution, has made significant strides since its inception. In March, it facilitated a structured financing deal worth Rs 1,787 crore for BluPine Energy, marking a significant development in debt financing for renewable energy projects. Despite such deals being commonplace for infrastructure projects, NaBFID’s involvement highlights its impactful entry into the finance sector, supporting major projects and fostering the growth of renewable energy through strategic financial backing.
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Mauritian investor Adenia gets returning LP for latest Africa-focussed vehicle
VCCircle
·
1y ago
Medial
Mauritian private equity firm, Adenia Partners, has received a commitment from German development finance institution, Deutsche Investitions, for its latest Africa-focused investment vehicle. Adenia has previously backed companies such as Orange and operates primarily in the mid-market sector.
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Bottomline: Piramal-backed Annapurna posts steller FY24 figures, buries ghost of Covid-19
VCCircle
·
1y ago
Medial
Piramal-backed Annapurna Finance Pvt Ltd, a microfinance institution in eastern India, has reported impressive financial performance for the fiscal year ending in March 2024. The majority of their growth comes from their lending operations. Annapurna Finance is backed by Piramal, a prominent Indian business conglomerate. Their strong financial performance suggests that the company has overcome the challenges posed by the Covid-19 pandemic.
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BII’s India bets slumped last year even as global investments remained flat
VCCircle
·
9m ago
Medial
British International Investment (BII), a development finance institution backed by the UK government, reduced its investments in India in 2023 while maintaining its global investments at a similar level. BII made new commitments of about £1.3 billion in various asset classes in India. The reduction in India investments by BII may reflect a shift in investment strategy or market conditions.
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Norfund, AIIB eye IndiGrid’s new platform; suitors line up for Yes Bank
VCCircle
·
1y ago
Medial
Norfund and German development finance institution DEG are among the firms looking to invest in India Grid Trust's new power transmission platform, which is backed by KKR and valued at around $250 million. Other potential investors include British International Investment Plc. and the Asian Infrastructure Investment Bank (AIIB). Meanwhile, several suitors are lining up to acquire a stake in Yes Bank.
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Ecofy Finance secures $12.5 mn from offshore investor
VCCircle
·
4m ago
Medial
Ecofy Finance, a non-banking financial company focused on green transition, has raised $12.5 million in debt capital from a development finance institution owned by the Danish government. The company, promoted by Eversource Capital, was co-founded by Rajashree Nambiar and Govind Sankaranarayanan, veterans in financial services. This investment marks a significant milestone for Ecofy Finance, highlighting its commitment to sustainable finance.
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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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AIIM gets fatter cheque from returning LP for new pan-Africa fund
VCCircle
·
1y ago
Medial
AIIM, the infrastructure asset manager in Africa, has received a significant investment from a European institutional investor for its fourth pan-African fund. The private equity firm has gained support from a returning limited partner, German development finance institution Deutsche Investitions- und Entwicklungsgesellschaft (DEG). The investment will contribute to the growth of AIIM's fund, aimed at infrastructure development across Africa.
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NaBFID's loan sanctions to rise to Rs 3.2 lakh crore by end of FY25, says MD Rajkiran Rai
Money Control
·
10m ago
Medial
The National Bank for Financing Infrastructure and Development (NaBFID) is expected to increase loan sanctions to Rs 3.2 lakh crore by the end of the financial year. Rajkiran Rai, NaBFID's managing director, anticipates a surge in project flows in the second half of the year. Currently, the bank has Rs 1.2 lakh crore in sanctions and over Rs 50,000 crore in disbursements. Rai expects disbursements to reach Rs 93,000 crore by the end of the year. NaBFID is primarily funding projects in sectors such as infrastructure, energy, roads, and railways. The bank also plans to raise Rs 53,000 crore through bonds from the domestic market.
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ADB Ventures-backed Smart Joules snags fresh funding from offshore investor
VCCircle
·
1y ago
Medial
Smart Joules, an energy efficiency company supported by investors such as ADB Ventures, Raintree Family Office, and Sangam Ventures, has secured a new round of funding from a European development finance institution. The company previously raised Rs 36 crore in a Series A round and aims to use the new capital to expand its operations.
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Exits in India lot easier than in most other developing countries: IFU’s CEO
VCCircle
·
4m ago
Medial
IFU CEO Lars Bo Bertram states that exiting investments in India is easier compared to most other developing countries. Danish development finance institution IFU has been investing in India since 1984, supporting over 100 companies across various sectors, including manufacturing, wind energy, textiles, food, IT, advisory services, finance, and cement. Their recent investments include companies like Blue Star, reflecting IFU’s continued commitment to impact investing in India's emerging market.
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