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Kotak fund to part-finance Matrix Pharma's purchase of Viatris API business

VCCircle

VCCircle · 1y ago

Kotak fund to part-finance Matrix Pharma's purchase of Viatris API business

Kotak Alternate Asset Managers Ltd will finance Matrix Pharma Pvt Ltd's acquisition of Viatris Inc's Indian active pharmaceutical ingredients (API) business with an investment of about $174 million. Matrix will gain access to Viatris' R&D capabilities, and after the acquisition, it will become the second-largest Indian API player. Kotak Alt's investment will enable Matrix to strengthen its third-party sales and explore opportunities in the pharmaceutical contract development and manufacturing organization (CDMO) segment. This deal showcases Kotak's deal sourcing and structuring capabilities in the pharma industry.

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Finmin appoints SBI Chairman C S Setty, Uday Kotak as governing council members of infrastructure fund

YourStory

YourStory · 7m ago

Finmin appoints SBI Chairman C S Setty, Uday Kotak as governing council members of infrastructure fund

The Finance Ministry has appointed SBI Chairman C S Setty and Kotak Mahindra Bank director Uday Kotak to the governing council of the National Investment and Infrastructure Fund Trustee Ltd, replacing Dinesh Khara and T V Mohandas Pai. Approved by Finance Minister Nirmala Sitharaman, the council guides investment strategy for the NIIF, a quasi-sovereign wealth fund established to boost infrastructure financing. Other council members include Ajay Seth, M Nagaraju, and Hemendra Kothari.

Kotak Alternate Asset hits first close of third life sciences-focused PE fund

VCCircle

VCCircle · 6m ago

Kotak Alternate Asset hits first close of third life sciences-focused PE fund

Kotak Alternate Asset Managers Ltd, part of Kotak Mahindra Group, announced the first close of its third life sciences-focused private equity fund, raising Rs 250 crore from family offices, UHNWIs, veterans, and institutions. The fund targets Rs 1,600 crore for investments in early- to growth-stage companies in life sciences, including pharma, biotech, and medical devices. Established in 2005, Kotak Alternate Asset manages over $22 billion across various asset classes.

Rural-focussed NBFC Moneyboxx Finance raises $21 mn

VCCircle

VCCircle · 10m ago

Rural-focussed NBFC Moneyboxx Finance raises $21 mn

Non-bank lender Moneyboxx Finance has raised $21 million in capital to support its growth plans. The company focuses on impact investing by providing business loans to micro entrepreneurs in rural areas. The fund raise puts Moneyboxx Finance in a position to achieve a target of over $335 million by 2025-26. The company plans to keep raising capital going forward and aims to enhance its outreach and impact in rural India. Moneyboxx Finance is supported by 33 lenders, including State Bank of India, HDFC Bank, and Kotak Mahindra Bank.

Grapevine: Mubadala may join hands with Warburg for Shriram Housing; Brookfield eyes Leela Palaces Listing

VCCircle

VCCircle · 1y ago

Grapevine: Mubadala may join hands with Warburg for Shriram Housing; Brookfield eyes Leela Palaces Listing

UAE sovereign fund Mubadala is reportedly in talks to partner with Warburg Pincus for the purchase of a majority stake in Shriram Housing Finance, a subsidiary of Shriram Finance. Meanwhile, Brookfield Asset Management is considering listing Leela Palaces as it seeks to expand its hospitality business in India. Mubadala is said to be exploring multiple investment opportunities in the Indian market, while Warburg Pincus and Bain Capital are also contenders for the Shriram Housing Finance deal.

Women’s day: How a simple newspaper reading habit led Shibani Kurian down the fund management path

Money Control

Money Control · 1y ago

Women’s day: How a simple newspaper reading habit led Shibani Kurian down the fund management path

To celebrate International Women's Day 2024, Moneycontrol Personal Finance features five women fund managers who have made their mark in the male-dominated Indian Mutual Fund industry. Shibani Sircar Kurian, Head of Equity Research at Kotak Mutual Fund, manages five equity funds and oversees assets under management of INR 7,500 crore. Kurian's career in finance began as an equity researcher at UTI Mutual Fund and she later joined Kotak Mutual Fund in 2007. She now manages equity schemes and heads a research team of 16 analysts. Kurian believes in analyzing a company's cash flows and balance sheets rather than solely focusing on top-line growth. In terms of sector preference, Kurian is positive on select private and public sector banks and asset financing NBFCs, as well as companies focused on specialty pharmaceuticals in the healthcare sector.

Zydus Life acquires Sterling Biotech’s API formulation business

VCCircle

VCCircle · 10m ago

Zydus Life acquires Sterling Biotech’s API formulation business

Zydus Lifesciences, a listed pharma company, has acquired the active pharmaceutical ingredients (API) business of Sterling Biotech for Rs 84 crore ($10 million). The acquisition is set to be completed by the end of 2024. Zydus is looking to expand in the fermentation-based API space, which offers high entry barriers and attractive margins. This move aligns with their strategic and commercial goals. The sale of Sterling Biotech's API business is part of their broader strategy to focus on animal-free protein products.

Kotak Alternate Asset raising third life sciences-focused PE fund

VCCircle

VCCircle · 11m ago

Kotak Alternate Asset raising third life sciences-focused PE fund

Kotak Alternate Asset Managers Ltd is raising capital for its third healthcare and life sciences-focused private equity fund. This comes after nearly seven years since the launch of its previous fund. Kotak Alternate is the alternative asset management arm of Kotak Mahindra Group. The fund aims to invest in healthcare and life sciences companies in India.

Z47 to raise $300-400 million maiden fund, its first since Matrix split

Livemint

Livemint · 1m ago

Z47 to raise $300-400 million maiden fund, its first since Matrix split

Z47, formerly Matrix Partners India, is planning to raise its first independent fund since separating from its US parent. The Indian venture capital firm aims to secure $300–400 million by leveraging its portfolio of tech startups. This initiative is part of a broader fundraising resurgence in Indian venture capital, similar to Peak XV Partners' efforts, which plans to raise a $1.4 billion fund for India and Southeast Asia.

Kotak Alts’ real estate fund backs Gurugram developer

VCCircle

VCCircle · 9m ago

Kotak Alts’ real estate fund backs Gurugram developer

Kotak Real Estate Fund, the real estate private equity arm of Kotak Alternate Asset Managers, has invested about Rs 1,200 crore in Gurugram-based developer Elan Group. This investment will be used to fund the developer's growth capital requirements. Kotak Alternate Asset Managers has backed around 90 companies since launching its real estate practice. The exact amount of capital invested by Kotak Real Estate Fund is unclear, but the firm has deployed about $3.5 billion across its 13 alternative investment funds. This investment follows a capital infusion of $110 million from PAG in December 2022.

Matrix Partners India promotes three principals to managing directors

Economic Times

Economic Times · 1y ago

Matrix Partners India promotes three principals to managing directors

Matrix Partners India has promoted three of its principals, Aakash Kumar, Pranay Desai, and Sudipto Sannigrahi, to managing directors. Each of the new managing directors has a background in both operations and venture capital. Kumar focuses on investments in frontier technologies like artificial intelligence and blockchain. Desai leads business-to-business software-as-a-service investments, and Sannigrahi's focus areas include B2B and B2C marketplaces, agritech, supply chains, semiconductors, electric vehicles, and deeptech. Matrix Partners India recently closed its India fund at $550 million, the largest corpus it has raised for the country since starting operations there in 2006.

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