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How Multiples-backed lender got a valuation bump with two new PE investors

VCCircle

VCCircle · 1y ago

How Multiples-backed lender got a valuation bump with two new PE investors

APAC Financial Services, a financial services provider backed by private equity firm Multiples, has raised additional capital from two alternative investment firms, resulting in a significant increase in its valuation. Led by CEO Renuka Ramnath, Multiples has invested in several companies in the banking, financial services, and insurance sector. The investment from the two new investors will likely boost APAC Financial Services' growth and expand its offerings in the market.

Related News

Multiples PE-backed Vastu Housing adding another investor to cap table

VCCircle

VCCircle · 1y ago

Multiples PE-backed Vastu Housing adding another investor to cap table

Vastu Housing Finance Corp has added another investor to its cap table. The mortgage lender, which already has private equity and venture capital firms as shareholders, has attracted several new investors over the past year. Multiples PE, led by Renuka Ramnath, is the majority shareholder in Vastu Housing. The identity of the new investor has not been disclosed.

How M1xchange’s valuation bump with latest funding affects early investors

VCCircle

VCCircle · 5m ago

How M1xchange’s valuation bump with latest funding affects early investors

M1xchange, a digital invoicing and discounting platform, has increased its valuation through a recent investment from Jindal Stainless Ltd and its subsidiary. This transaction not only boosts the company's valuation but also enhances the return multiples for early investors. Jindal Stainless Ltd, along with its subsidiary, acquired a 9.62% stake, reflecting confidence in M1xchange's growth and potential within the financial technology sector.

PE firm Multiples closes $430 Mn continuation fund

Entrackr

Entrackr · 3m ago

PE firm Multiples closes $430 Mn continuation fund

Private equity firm Multiples Alternate Asset Management has raised $430 million for a continuation fund to extend its investment in three portfolio companies — 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 — 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.

Multiples PE-backed Vastu Housing raises fresh capital from foreign investor

VCCircle

VCCircle · 1y ago

Multiples PE-backed Vastu Housing raises fresh capital from foreign investor

Multiples Private Equity-backed mortgage lender, Vastu Housing Finance Corporation, has secured funding from an international development finance body to cater to the housing credit needs of low-income groups and women. The Mumbai-based firm aims to address the demand for housing finance that specifically targets women. Vastu Housing Finance Corporation focuses on providing mortgages for affordable homes.

Multiples PE mulls an exit move from healthcare portfolio firm

VCCircle

VCCircle · 4m ago

Multiples PE mulls an exit move from healthcare portfolio firm

Multiples Alternate Asset Management, led by CEO Renuka Ramnath, is considering selling its stake in a healthcare portfolio company, four years after its investment. This move follows the firm's recent exits from a textile company and partial divestments from an investment banking firm and a mortgage lender. This strategy aligns with Multiples PE's ongoing efforts to realize returns from its investments and optimize its portfolio.

Multiples PE nears deal for Smallcase stake

The Arc Web

The Arc Web · 1y ago

Multiples PE nears deal for Smallcase stake

Private equity firm Multiples Alternate Asset Management is considering leading a $30-40 million funding round for Smallcase, a digital investment platform backed by Zerodha and Amazon. This could value Smallcase at over $300 million. Multiples, which traditionally invests in profitable companies and fintechs, raised a $640-million fund in 2023. Smallcase, which bundles securities for retail investors, has 100 million users and facilitated $9.3 billion in investments. It seeks funds to bolster cash reserves and invest in Zerodha Fund House.

Multiples PE-backed I-bank set to hit bourses; but what valuation is it seeking?

VCCircle

VCCircle · 11m ago

Multiples PE-backed I-bank set to hit bourses; but what valuation is it seeking?

A leading investment bank, backed by Multiples Private Equity and philanthropist Narotam Sekhsaria's family office, is preparing to go public. DAM Capital Advisors, known for managing IPOs and acquisitions of various companies, has filed for an Initial Public Offering (IPO). The valuation sought by the investment bank is currently unknown.

Multiples PE eyes Ebco; GIC, ADIA join PE consortium for Haldiram deal

VCCircle

VCCircle · 1y ago

Multiples PE eyes Ebco; GIC, ADIA join PE consortium for Haldiram deal

Indian private equity firm Multiples Asset Management is in advanced talks to acquire a controlling stake in furniture hardware company Ebco. If the negotiations are successful, Multiples will become the majority owner of Ebco. However, other investors are reportedly involved in the deal as well.

Flashback 2024: How PE-VC investors drove the $20-bn IPO boom

VCCircle

VCCircle · 8m ago

Flashback 2024: How PE-VC investors drove the $20-bn IPO boom

In 2024, India's primary market experienced a boom with 336 companies launching initial public offerings (IPOs), driven by private equity and venture capital investors seeking to monetize their investments. This surge was fueled by the growing valuation multiples, leading to a $20 billion IPO market. The increased activity provided ample opportunities for these investors to take their portfolio companies public, contributing significantly to the expansion and dynamism of the Indian stock market.

Multiples PE makes its second bet in logistics sector

VCCircle

VCCircle · 8m ago

Multiples PE makes its second bet in logistics sector

Multiples PE, a private equity firm, has invested $35 million in logistics company INSTANT-XP for a minority stake. This is the firm's second bet in the logistics sector, after investing in Delhivery back in 2014. INSTANT-XP plans to use the investment to enhance its technological capabilities and expand its network and service offerings. No information was disclosed about the size of the stake acquired by Multiples or the company's valuation. INSTANT-XP offers transport, logistics, and container renting services, with a fleet of 1,110 vehicles.

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