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SaaS star Postman sees 30-40% cut in value in secondary deals
Economic Times
·
1y ago
Medial
Indian SaaS startup Postman has reportedly made secondary deals with a 30-40% discount, marking a significant decline in value for SaaS firms. The company's latest deals were made at a steeper discount than usual, reflecting the readjustment in valuations for SaaS firms based on revenue projections. Existing investors, including Nexus Venture Partners, Bond Capital, and Battery Ventures, have reportedly purchased shares in the secondary deals. SaaS investments have slowed down overall, with late-stage and mid-stage firms seeing a decline in funding in 2023 compared to the previous year.
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Vastu Housing Finance raises $30M from Faering Capital
IndianStartupNews
·
1y ago
Medial
Vastu Housing Finance has raised $30 million in a fundraise from private equity fund Faering Capital. This transaction, a secondary sale, was made by funds managed by Multiples Alternate Asset Management and other shareholders of the company. Faering Capital sees Vastu as a long-term investment opportunity in the affordable housing finance sector. Vastu, a digital housing finance company, has partnerships with 40 lending partners and institutional investors and operates across 15 states in India. Their proprietary technology platform, Pulse, offers a paperless digital experience for customers.
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Startups raise $10 billion in July-September quarter, down 15% QoQ, says 1Lattice
Economic Times
·
10m ago
Medial
- Startups raised $10 billion in Q3, a 15% decline from the previous quarter - The number of deals decreased by 30% from Q2 to Q3 - PhysicsWallah, Zepto, and Rapido were among the top funded startups during this period - Debt deals surged to $4.2 billion, accounting for 40% of the total capital raised - The BFSI sector led funding activity with $3.5 billion, followed by telecom with $2 billion, and SaaS/AI with $1.2 billion - Late-stage investments were driven by ecommerce and listing platforms, including Zepto, Oyo, and Bluestone
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Deals Digest: Funding momentum slows significantly amid lesser large deals
VCCircle
·
10m ago
Medial
- Funding by PE and VC firms drops to lowest in over two months - No deals surpass $50 million in value - MStack's $40 million funding deal accounts for over half of total value - This week marks the third worst in 2024 in terms of funding value - Funding momentum slows significantly with lesser large deals.
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Goldman Sachs to invest $50 mn in MoEngage through secondary deal
Inshorts
·
1y ago
Medial
Goldman Sachs is reportedly looking to double down on Bengaluru-based MoEngage and is also in advanced discussions with the software as a service (SaaS) provider to invest $30-50 million (INR 250 – 418 Cr) via secondary deal. "Goldman has decided to buy shares (of MoEngage) from some of the early investors. It’s a fully secondary funding round," ET reported.
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SaaS platform Pepsales raises $1.1 million in funding round led by Chiratae Ventures
Economic Times
·
10m ago
Medial
Pepsales, a SaaS platform for sales teams, has raised $1.1 million in funding led by Chiratae Ventures. The funds will be used to develop an enterprise-grade AI SaaS platform, expand the market, invest in sales and marketing, and hire talent. Founded in 2023, Pepsales utilizes AI and ML to help B2B SaaS companies create personalized product demos. The platform currently has 10 customers and aims to grow in the US and India. Chiratae Ventures sees the potential for Pepsales to transform how companies conduct product demos and close deals.
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Apis Growth, Madison Capital sell stake in Star Health via block deal
Livemint
·
1y ago
Medial
The stake of investors Apis Growth and Madison Capital in Star Health & Allied Insurance, backed by Rakesh Jhunjhunwala, has been sold in a block deal. The transaction's value is estimated to be between $250 million and $270 million. The sale was managed by ICICI Securities, and the shares of Star Health saw a rise of 6.3% on the National Stock Exchange. This divestment follows Apis Growth's previous sale of shares in March 2024. Star Health's strong financial performance, including a 40% increase in net profit for Q4, contributed to positive investor sentiment.
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TR Capital sees over $200 mn annual investment opportunity in India
Livemint
·
1y ago
Medial
Hong Kong-based TR Capital plans to invest over $200 million annually in India, as it sees immense opportunities in the country's market. With an average ticket size between $30 million and $100 million, TR Capital's portfolio is already 50% focused on India. The firm specializes in secondary investments and manages about $1.5 billion across four funds. TR Capital's managing partner Frédéric Azemard highlighted the potential in the secondary market as more new-age companies go public in India, expanding the opportunity for liquidity. Other global investors, including Pantheon Ventures and HarbourVest Partners, also see potential in the Indian economy.
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IPOs lead India's 2024 startup exit wave, but M&As likely to catch up - The Economic Times
Economic Times
·
29d ago
Medial
In 2024, Indian startup exits were dominated by IPOs, contributing 68% due to high public market valuations. However, an increase in mergers, acquisitions, and secondary deals is expected within the next 6-12 months amid public market corrections and liquidity pressures. Although IPOs currently lead exits, a balanced approach is anticipated as valuations correct. Recent strategic M&A deals have already seen significant value, reflecting a diversification in exit strategies for investors and companies.
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Disney Star ad revenues from Asia Cup may touch ₹400 cr
Livemint
·
1y ago
Medial
The upcoming Asia Cup's 16th edition, scheduled from August 30 to September 17, is set to feature sought-after India-Pakistan matches, driving demand for broadcasting rights. Disney Star, the broadcaster, is finalizing deals with sponsors such as Coca-Cola's Charged by Thums Up, Amazon Pay, and others. Advertisers can choose packages including India-Pakistan clashes and other matches. Spot rates range from ₹2-3 lakh for non-India matches to ₹25-30 lakh for India-Pakistan encounters. Disney+Hotstar will offer free access on mobile but charge for connected TVs. The ICC World Cup in India between October 5 and November 19 poses another significant test for Disney Star.
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Lenskart sets sights on round at $6 billion valuation
Economic Times
·
8m ago
Medial
Eyewear retailer Lenskart is in discussions for a fresh secondary share sale that could value the company at $6 billion, a 20% increase from its valuation in June. Existing investors including Fidelity, Kedaara Capital, and a significant early investor are seeking to increase their holdings in the company. The final structure and size of the round will depend on finding the right number of sellers. Lenskart has seen significant demand in recent years and has recorded multiple secondary deals. The company's CEO has also hinted at a potential IPO in the next two years.
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