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International Finance Corporation's investments hit a record at $56 bn
VCCircle
·
10m ago
Medial
The International Finance Corporation (IFC), the World Bank's private investment arm, has reached a new record of $56 billion in investments for its financial year ending in June. This 28% increase is attributed to internal reforms and decentralised decision-making processes. The IFC aims to continue this growth and target $62 billion for the financial year ending in 2025. The focus will be on investing in infrastructure, particularly in roads and transportation, and collaborating with sub-sovereign entities like municipalities. The IFC also plans to increase equity investments and potentially take companies public on domestic stock markets.
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IFC lifts India exposure for second year in a row as local portfolio nears $9 bn
VCCircle
·
8m ago
Medial
The International Finance Corporation (IFC) has increased its investments in India for the second year in a row, nearing a total portfolio of $9 billion. The IFC is focusing on private equity and venture capital funds, as well as making direct investments in local companies. Wendy Werner, the India Country Head for IFC, is leading this effort to expand the organization's exposure in the Indian market.
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Solcon Capital's CEO on IFC partnership, India-Africa deal split and more
VCCircle
·
1y ago
Medial
International Finance Corporation (IFC) and Solcon Capital, a South African private investment firm, recently announced the formation of a co-investment platform to support tech-focused companies in Africa. Solcon Capital, formerly known as Convergence Partners, has a track record of making successful investments in Africa. The partnership between IFC and Solcon Capital aims to provide financial support and expertise to companies in various sectors, promoting economic growth in the region.
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Somerset Indus Capital onboards another offshore LP for third India fund
VCCircle
·
5m ago
Medial
Somerset Indus Capital Partners, a private equity firm specializing in healthcare investments, has secured a new offshore limited partner for its third investment fund. This development follows the firm's previous success in attracting the US International Development Finance Corporation as an investor. Somerset has a track record of supporting companies like Genworks, Apex Hospitals, and Sterling Hospitals. The new partnership aims to enhance its investment capabilities in the healthcare sector.
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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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WestBridge showcase investment headed towards $1 bn exit
VCCircle
·
8m ago
Medial
WestBridge Capital, a private equity firm, is set to exit its showcase portfolio investment for nearly $1 billion. The firm specializes in backing unlisted companies and making private investments in public equities. With a track record of successful exits, including full and partial ones, WestBridge Capital is well-positioned in the market.
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Asia Partners raises $474 mn for second PE fund
VCCircle
·
1y ago
Medial
Singapore-based private equity firm, Asia Partners, has raised $474 million for its second fund, with new investor, International Finance Corp (IFC) from the World Bank joining the round. The fund focuses on investments in the Southeast Asian tech sector. Returning investors include the International Development Finance Corp, Financial Investments Corp, Deutsche Investitions- und Entwicklungsgesellschaft, and Generation Capital. This second fund brings Asia Partners' total assets under management to $1 billion.
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Focus on asset arbitrage: Foreign promoters cashing out at lofty valuations
Money Control
·
1y ago
Medial
Several foreign parent companies have been divesting from their Indian subsidiaries at higher valuations recently. Japanese parent company Sumitomo Wiring Systems sold a 4.4 percent stake in Samvardhana Motherson International for Rs 3,633 crore. Whirlpool Corporation's subsidiary sold a 24 percent stake in Whirlpool India for Rs 4,030 crore. Similarly, Fairbridge Capital, the parent company of Thomas Cook, sold an 8.5 percent stake for Rs 550 crore. These divestments suggest that Indian subsidiaries of multinational companies are trading at higher valuations compared to their foreign parents.
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Advent-owned Suven Pharma to buy majority stake in NJ Bio for $64 mn
VCCircle
·
8m ago
Medial
Indian contract development and manufacturing organization (CDMO) Suven Pharma, owned by private equity firm Advent International, is set to acquire a majority stake in US-based NJ Bio for $64.4 million. Suven Pharma will purchase a 56% stake in NJ Bio, a technology-driven CDMO specializing in complex drug modalities, at a pre-money valuation of $100 million. The deal will involve a combination of primary and secondary investments, with Suven paying $49.4 million to buy out existing minority shareholders and infusing $15 million in primary equity. The transaction is expected to close this month.
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UPI transactions in January surpass 16.99B; highest recorded in any month
YourStory
·
5m ago
Medial
In January, UPI transactions hit a record 16.99 billion, with a value over Rs 23.48 lakh crore, marking the highest monthly figures, according to the Ministry of Finance. UPI, the cornerstone of India's digital payment ecosystem, accounted for 80% of retail payments. By January 2025, over 80 UPI apps and 641 banks were active. Of transactions, 62.35% were People to Merchant (P2M), highlighting UPI's popularity for low-value payments.
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Rupee slips to record low as equity sentiment sours after tax hike
VCCircle
·
1y ago
Medial
The Indian rupee reached a new all-time low against the US dollar as concerns about outflows from local equities weighed on the currency. However, the Reserve Bank of India's intervention helped ease the pressure. The rupee hit a record low of 83.72 against the dollar before closing at 83.7175. Sentiment surrounding local equities has been dampened by the government's decision to raise taxes on profits from equity investments and derivatives trades. The RBI's routine interventions have helped to limit volatility expectations for the rupee.
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