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Singapore’s Dragon Fund expects India to become its largest market
Livemint
·
11m ago
Medial
Dragon Fund, backed by Mitsubishi UFJ Financial Group, plans to increase its pace of investments in India and is expected to deploy over half of its $500 million global fund raised in 2023 by the end of this year, according to its chief investment officer. The equity financing arm of Mars Growth Capital focuses on tech-enabled mid-to-late-stage growth and pre-IPO companies, with a particular interest in sectors such as e-commerce, consumer tech, enterprise tech, and health-tech. The fund aims to target companies with strong unit economics and a clear path to profitability.
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Dubai’s MEVP scores maiden ‘dragon’ exit and first full harvest from second VC fund
VCCircle
·
1y ago
Medial
Dubai-based venture capital firm Middle East Venture Partners (MEVP) has achieved its first full exit from its second fund and a "dragon exit," marking a successful investment in a technology startup. MEVP, which manages assets exceeding $300 million, has fully monetized its investment and achieved significant returns. The firm focuses on early-stage and growth-stage tech startups and has become known for its successful investments in the Middle East and North Africa region.
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India seen as OpenAI's top user hub with GPT-5 boost: Sam Altman
Livemint
·
22d ago
Medial
OpenAI views India as a rapidly growing and significant market, poised to become its largest global user base soon. CEO Sam Altman noted that with the rollout of GPT-5, enhanced support for 12 Indian languages promotes daily and business AI integration among India’s “incredible” users. Currently, India ranks as the second-largest user market for OpenAI, behind the US, but is anticipated to soon surpass it due to its fast growth rate.
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Local institutions not playing meaningful role in India's private credit market: Investec's Gupta
VCCircle
·
1y ago
Medial
Investec's Piyush Gupta, head of credit markets in India, believes that local institutions are not playing a significant role in India's private credit market. He expects consolidation in the market as it continues to mature. Investec, having been in India for over 11 years, recently closed its second fund, focusing on providing private credit to Indian companies.
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India To Grow At 6.5-6.8% This Fiscal; Festive, govt Spending To Drive Growth: Deloitte
OutlookIndia
·
1y ago
Medial
Deloitte India expects the GDP growth for the current fiscal year to be in the range of 6.5-6.8%. This is mainly attributed to increased festive spending and higher government expenditure ahead of the national elections next year. The report emphasizes that India needs at least 6.5% growth annually to become the world's third-largest economy by 2027, and 8-9% growth to become a developed country by 2047. Deloitte also highlights the importance of domestic demand, particularly private consumption and investment spending, to fuel India's growth.
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Mars Growth to lead Meesho’s secondary round
The Arc Web
·
1y ago
Medial
Singapore's Mars Growth Capital is looking to acquire a stake in Meesho, an ecommerce platform. Through its Dragon Fund, Mars is expected to purchase the largest block of shares in the secondary deal. Existing investor, Peak XV Partners, is also planning to increase its stake through its growth fund. Other investors, including Meta, Venture Highway, and a group of angels, will sell their holdings in Meesho as part of the secondary round, which is estimated to be worth $200-250 million. Meesho reported profitability in Q3 2021, with a profit after tax of $7 million on revenues of $227 million.
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Gulf Capital aims first close of latest PE fund soon
VCCircle
·
1y ago
Medial
Gulf Capital, a UAE-based private equity firm, is set to achieve the first close of its fourth investment fund in the coming months. The fund is expected to be the largest active control growth buyout fund in the region. Gulf Capital has chosen to diversify its investor base and will undergo a marketing campaign to attract institutional investors from around the world. The firm is confident in the attractiveness of the fund and expects a successful first close.
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Zepto’s valuation rockets to $5 billion as investors double down on India’s e-commerce boom
Livemint
·
12m ago
Medial
Indian online grocery startup Zepto has seen its valuation surge to $5 billion after a recent funding round led by General Catalyst Partners. The $340 million funding round also saw participation from new investors Dragon Fund and Epiq Capital, while existing investors like Lightspeed Venture Partners increased their stakes. Zepto plans to double its warehouse count to over 700 by 2025 and is reportedly preparing for a public listing in the near future. The company faces competition from major players such as Amazon India, Swiggy, Zomato, and BigBasket in the fiercely competitive grocery delivery market.
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We Are At Doorsteps Of Intelligence Age: Mukesh Ambani At NVIDIA Summit
Inc42
·
10m ago
Medial
Mukesh Ambani, billionaire and chairman of Reliance Industries, believes that India has the world's best digital connectivity infrastructure, second only to the US and China. He expressed his confidence that India is poised to become a hub for innovation and a leading digital market due to its rapidly growing economy, talented workforce, and robust digital infrastructure. Ambani spoke at NVIDIA's AI Summit 2024 and predicted that India will soon become one of the largest markets for artificial intelligence and intelligence technology.
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GPT-5: India Becomes The Second Largest Market of AI
YourStory
·
11d ago
Medial
India has become OpenAI's second-largest market, driven by the release of GPT-5 which supports over 12 Indian languages. The rapid AI adoption in India is fueled by its massive digital ecosystem, expansive AI growth, and governmental support. OpenAI's strategy involves localizing GPT-5, forming partnerships, and ensuring affordability with different service tiers. This surge presents vast opportunities for innovation and market growth in India, potentially even exceeding the U.S. market.
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Motorola Aims To Double Export From India, Eyes 8-10% Market Share
Inc42
·
1y ago
Medial
Motorola, the Lenovo-owned smartphone brand, plans to double its manufacturing capacity and increase exports from India. The company aims to capture 8-10% market share in India's smartphone market within the next two years, intending to become the country's third-largest player by volume by the end of 2024. Motorola is also in discussions with suppliers to find local components for manufacturing chargers in India. The company has seen significant growth in recent years and aims to continue expanding its presence in the Indian market.
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