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NIIF invests Rs 207 crore in Amicus Capital; Know the details
IndianStartupNews
·
1y ago
Medial
The National Investment and Infrastructure Fund (NIIF) has invested Rs 207 crore (approx. $25 million) in Amicus Capital Fund II, which aims to support tech-driven companies in sectors like manufacturing, healthcare, and financial services. The investment comes from NIIF's Fund of Funds - I, as part of its Private Markets Business (PMF)-I initiative. This investment marks the allocation of capital commitments across eight complementary funds by PMF-I, benefiting sectors like climate, healthcare, and technology. Amicus Capital, having already invested in companies like RenewBuy and Capital Small Finance Bank, now gets closer to reaching its $200 million target.
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NIIF invests ₹207 crore in Amicus Capital
Livemint
·
1y ago
Medial
India's National Investment and Infrastructure Fund Ltd (NIIF) has invested ₹207 crore ($25 million) in the second fund of growth capital fund Amicus Capital Partners. The investment comes from NIIF's Fund of Funds – I and highlights its support for fund managers with a strong investment strategy and team. NIIF's backing is expected to boost Amicus' fundraising efforts, with the second fund currently having raised $171 million. Amicus Capital invests in various sectors, including manufacturing, technology, healthcare, and financial services. NIIF manages over $4.9 billion of equity capital commitments across its funds.
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NIIF Backs Amicus Capital’s Second Fund With $25 Mn
Inc42
·
1y ago
Medial
National Investment and Infrastructure Fund (NIIF) has invested INR 207 crore ($25 million) in Amicus Capital Partners, an Indian growth capital fund. Amicus, which supports startups in various sectors, aims to raise a $200 million corpus for its second fund. The fund currently manages assets worth $259 million across two funds and counts mCaffeine, Wonderchef, and MoEngage among its portfolio companies. Amicus plans to partner with NIIF to support promising businesses during their early growth phase. NIIF manages over $4.9 billion in equity capital commitments across four funds.
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Amicus invests Rs 125 Cr in Equirus; Federal Bank part-exits
YourStory
·
10m ago
Medial
- Private equity firm Amicus Capital has invested Rs 125 crore in Equirus Group for an undisclosed stake. - The investment includes a combination of primary and secondary purchases, with Federal Bank taking a partial exit. - The new investors in Equirus Group include Kishor Patil, Ajai Kumar, N Sivaraman, Yagnesh Dosshi, Krishna Jha, Anand Archak, Abhishek Goyal, Badri Mohapatra, Shankar Valiya, and Deepak Singhal. - Equirus Group offers investment banking, insurance broking, and asset management services. - The raised funds will be used for capital expansion, technology investments, talent acquisition, operational improvements, and risk management. - Amicus Capital Partners believes that Equirus Group is well positioned to take advantage of India's growth story.
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NIIF strikes its last LP-style bet from first fund of funds
VCCircle
·
1y ago
Medial
The National Investment and Infrastructure Fund (NIIF), India's quasi-sovereign wealth fund, will make its final investment from its fund of funds (FoF) by investing in Amicus Capital's latest vehicle. NIIF acts as a limited partner to private equity and venture capital funds through its FoF. This investment marks its last bet from the FoF.
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How did Amicus Capital’s bet value investment bank Equirus?
VCCircle
·
10m ago
Medial
- Amicus Capital, a private equity firm, made a significant investment in investment banking firm Equirus Capital. - The investment consisted of a mix of primary and secondary transactions. - The total investment made by Amicus Capital and other individual investors amounted to Rs 125 crore ($14.9 million). - Equirus Capital is based in Bengaluru and specializes in investment banking services. - This investment strengthens the financial position and growth prospects of Equirus Capital.
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Decoding Atlum Credo’s $40 Mn primary and secondary round
Entrackr
·
1y ago
Medial
Digital payments company Altum Credo recently announced $40 million in its Series C round led by Z3Partners and Oikocredit. Apart from primary capital, the company also offered partial exit to its backers. While the company didn’t disclose any details besides round size and investors, Entrackr has reviewed its regulatory filings to decode details such as round break up, shareholding, valuation, and secondary component in the deal. The board at Altum Credo has passed a special resolution to issue 300 equity and 1,99,99,700 Series C CCPS at an issue price of Rs 114 each to raise Rs 228 crore or $27 million as a primary capital, its regulatory filing accessed through the Registrar of Companies shows. Oikocredit and Z3 Partners (BII) invested Rs 80 crore and Rs 85 crore while British International Investment, Amicus Capital, and Avishkaar India pumped in Rs 26 crore, 12 crore, and 25 crore, respectively, in primary fundraising. According to the shareholder agreement between investors, there is also a secondary transaction where 1,03,96,040 shares have been sold worth Rs 118.5 or $14 million. Out of Rs 118.5 crore of secondary transactions, ABF (Avishkar Bharat Fund) sold Rs 79 crore worth of shares while promoters sold Rs 13.54 crore worth of shares. PS Pai and family purchased Rs 79 crore worth of shares in the secondary transactions from Avishakkar Bharat Fund and promoters. According to TheKredible’s estimates, the company has been valued at around Rs 1165 crore or $149 million post-allotment. Altum Credo provides financial accessibility for first-home buyers across semi-urban and rural areas of India. It provides home loans in the range of Rs 4 lakh to Rs 40 lakh for a tenure of 5-20 years. Following the fresh proceeds, Avishkaar remains the largest external stakeholder with 15.92% followed by Amicus Capital. Oikocredit and Z3 Partners command 7.62% and 8.09% stake of the company. Head to TheKredible for the complete shareholding pattern. While the company is yet to file its financial statements for FY24, Altum Credo’s revenue from operations scaled 102.4% to Rs 67.2 crore in FY23. As per TheKredible, its profit shot up 99% to Rs 8.95 crore during FY23.
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Zomato invests Rs 500 Cr in Blinkit
Entrackr
·
6m ago
Medial
Food tech giant Zomato has invested Rs 500 crore (nearly $60 million) in its quick commerce subsidiary, Blinkit, bringing its total investment in the quick commerce segment to Rs 2,800 crore since the acquisition. The board has Blinkit has passed a resolution to issue 2,537 equity shares at an issue price of Rs 19,70,181 each to raise Rs 500 crore, its regulatory filing accessed from the Registrar of Companies shows. The capital injection into Blinkit comes just two months after Zomato raised Rs 8,500 crore through a Qualified Institutions Placement (QIP). The primary objective of that fundraising was to strengthen Zomato's financial position, enabling business expansion and strategic initiatives, particularly in the quick commerce segment through Blinkit. This marks Zomato's second capital infusion in Blinkit within seven months. In June 2024, it invested Rs 300 crore ($36 million) into the Albinder Dhindsa-led company. Blinkit, formerly known as Grofers, was acquired by the food delivery giant in an all-stock deal valued at Rs 4,477 crore ($568 million).
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Mynavi acquires majority stake in HRtech startup Awign
Entrackr
·
1y ago
Medial
Awign, a work-as-a-service platform, has announced a strategic majority stake acquisition in an all cash deal from Mynavi Corporation. This partnership will also signify the departure of few of Awign’s early backers, including Capria, Lumis, MSDF, Amicus Capital and Pankaj Bansal. Earlier in 2022, the Bengaluru-based company had announced its first employee stock option (ESOP) buyback programme worth Rs 4 crore on the heels of its $15 million Series B round co-led by Bertelsmann India Investments and Amicus Capital Partners. This partnership and the capital will further enable Awign to focus on long term strategic growth and deeper value creation without getting affected by the fundraising market environment, the firm said in a press release. Founded by Annanya Sarthak, Gurpreet Singh, and Praveen Kumar Sah in 2016, Awign helps enterprises run their businesses at scale by solving end-to-end outcome-based execution along with discovery, deployment, and payroll management. This partnership will further fuel Awign’s ambitions in onboarding and serving more global enterprise customers. As per the startup intelligence platform TheKredible, the funding in the HR tech space has shrunk over 70% to $90 million in 2023 from $315 million in 2021. In 2022, the space received a funding infusion of $341 million. Visit here for more details.
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Navyug Global Ventures invests in Chennai NBFC Shrinithi Capital
VCCircle
·
3m ago
Medial
Navyug Global Ventures Pvt Ltd, led by Nikhil Chandan, invested Rs 16 crore ($1.8 million) in Shrinithi Capital, a Chennai-based NBFC. An additional Rs 10 crore is planned by June 30. Shrinithi Capital, with 58 branches in Tamil Nadu, serves underserved segments offering loans for vehicles, construction equipment, and working capital. The funds will boost commercial vehicle financing and rural micro-lending, while expanding into loans against property. Navyug Global focuses on high-potential startups in various sectors.
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CloudExtel raises external debt of Rs 200 Cr
YourStory
·
1y ago
Medial
Mumbai-based Network-as-a-Service provider CloudExtel has received Rs 150 crore in external debt from NIIF Infrastructure Finance Limited, and an additional Rs 50 crore from Aditya Birla Finance Limited to grow its market presence in fiber and small cells deployment. The company has also received first-time credit rating of 'A-' from CARE Ratings Limited.
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