Paramita Chatterjee’s Post

Zephyr Peacock India, the investment arm of New York-based private equity (PE) firm Zephyr Management, may undergo a top management reshuffle, according to sources familiar with the matter. The potential restructuring could impact the timeline for closing its fourth India-focused fund, originally slated for July, with the first close now expected by winter 2024. My colleague Vibhuti Sharma's report. https://lnkd.in/gDn6dySA DealStreetAsia

India emerged as the fourth highest-funded country in the global tech startup ecosystem during the first half of this year, with startups raking in a whopping $4.1 billion from PE and VC investors, showed data available with Tracxn. While this was only a marginal 3.5% increase from H2 2023, it indicates investors’ continued faith in the country’s technology sector despite macro market headwinds. Many thanks Pratip Mazumdar (Inflexor Ventures); Nruthya Madappa (3one4 Capital) for sharing your thoughts on the ongoing trend. China recently overtook India in terms of tech funding to grab the third spot during the Jan-June period. During the same period last year, India was in the third position, while China was fourth. DealStreetAsia

More and more limited partners (LPs), betting big on India, are now coming forward to pick up stakes directly in companies, trying to replicate the windfall that some of the fund managers have been able to produce in the country over the past few years. First, there are direct deals. They are clocked by LPs who invest directly from their balance sheets. They are cash-rich and can dole out large cheques. Then, there are funds-of-funds and other smaller LPs – they typically go in for co-investments alongside fund managers they back and they rely on their general partners (GPs) for investment leads and diligence. The trend is gathering steam as it helps LPs optimise returns, experts believe.  Ontario Teachers' Pension Plan KOGTA FINANCIAL (INDIA) LIMITED National Investment and Infrastructure Fund (NIIF) Waterfield Advisors CPP Investments | Investissements RPC TPG Temasek KKR Bain Capital British International Investment Many thanks Chirantan Patnaik Siddharth Jhunjhunwala and Ramesh Kannan for sharing your perspective on the ongoing trend. Thank you Venture Intelligence (Arun Natarajan) for the data.

India’s climate-focused venture capital firm Avaana Capital aims to close its Climate and Sustainability Fund at $120 million within the next three to six months, a partner at the firm told DealStreetAsia's Vibhuti Sharma Avaana invests in thematic areas such as energy and resource management, mobility and supply chains, and sustainable agriculture and food systems. The firm has backed companies like FarMart, Ninety One Cycles, Kazam, Eeki Foods, Aerem, Sentra, Eggoz Nutrition, among others. https://lnkd.in/gF6qynDG

The latest fund—Jungle Ventures V—is understood to have the same target size as the fourth fund, according to two LPs aware of the venture capital firm’s plans.  My colleague Pimfha C.'s story for DealStreetAsia https://lnkd.in/g99BYaFu

Chinese venture capital VC firm 顺为资本 Shunwei Capital is understood to be in talks to increase its stake in Mohalla Tech Pvt. Ltd., the parent entity of the vernacular social media platform ShareChat and short-video entertainment app Moj. “Shunwei first invested in the company in 2018 and subsequently pumped in more capital in tranches… so, in that sense, this is more like re-upping its investment,” said one of the persons mentioned above. Interestingly, the talks surface at a time when the Indian industry has been urging the government to revisit the restrictions imposed on investment flows from China. EDBI Pte Ltd is also looking to pump in capital. The company is looking at a corpus of over $60 million in the current round. Many thanks Venture Intelligence (Arun Natarajan) for sharing the data on Chinese investments in India since 2021. Kavitha N. DealStreetAsia Temasek Lightspeed HarbourVest Partners Tencent https://lnkd.in/gMb74T6Q