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Returned $2 billion, including co-investments, in 5 years: Everstone’s Mehra

LivemintLivemint · 1y ago
Returned $2 billion, including co-investments, in 5 years: Everstone’s Mehra
Medial

Everstone Capital, a private equity firm based in India, has returned nearly $1.2 billion through exits in the last five years. The firm focuses on investing in mid-market companies with EBITDA between $10 million and $20 million. Everstone has seen success by backing founders of Indian origin who are building global businesses in the US across healthcare and IT services. The firm has deployed about $600 million and returned close to $1.2 billion to its investors in the last five years, with a total of $2 billion returned, including co-investments. Everstone is currently investing out of its $300 million fourth fund and expects to invest over $600 million to $700 million with co-investments. The firm is also planning to launch its fifth fund, which is anticipated to be larger than its third fund, with an aim to invest in controlled situations.

Optimo Loan raises $10 Mn seed in round

EntrackrEntrackr · 1y ago
Optimo Loan raises $10 Mn seed in round
Medial

MSME-focused lending-tech startup Optimo Loan has raised $10 million in its seed round led by Blume and Omnivore, with additional contribution from Optimo’s founder, Prashant Pitti. The proceeds will be used to expand its operations, enhance its technology, recruit new talent, and broaden its presence to 20 locations in rural India by the end of this year, the startup said in a press release. Founded by Pitti, Optimo facilitates access to quick, easy, and flexible financing options for MSMEs. It supports businesses in investing in new technologies, increasing liquidity, and ensuring business continuity. The startup actively contributes to local job creation, economic growth, and community development. The startup is also building a co-lending platform for MSMEs with a unique underwriting method. This approach allows Optimo to gain deeper insights into the financial health of MSMEs, enabling informed lending decisions and catalyzing entrepreneurship and economic growth in rural communities. That said, early-stage India-focused venture fund Blume Ventures invests in seed and pre-Series A rounds in tech-led startups. It is presently investing via its Fund IV, a $300 million vehicle supported by institutional LPs and family offices. Following the close of Fund IV, Blume now has an AUM (Assets Under Management) of over $600 million.

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