Bottomline: Fullerton-backed Lendingkart’s FY24 profit nearly halves; revenue, AUM up
Lendingkart Finance Ltd, the non-banking financial company (NBFC) owned and operated by the Lendingkart Group, saw its net profit decline in the financial year through March 2024 despite an uptick in in the company’s revenue from operations and assets under management (AUM). Lendingkart’s net profit fell to Rs 60 crore ($7.2 million) ......
Alteria Capital ropes in offshore LP for $100-mn debt fund
Venture debt firm Alteria Capital is bringing on board an offshore limited partner for a fund that aims to raise as much as $100 million (about Rs 835 crore at current exchange rates) to offer short-term credit to startups. The Mumbai-based firm, established in 2017 by former Innoven Capital executives Vinod ......
Deals Digest: Slight uptick in total funding this week but volumes slump
The amount of capital raised by companies from venture capital and private equity firms edged up this week, propelled by a large-ticket transaction even as volumes declined significantly. Privately held Indian companies raised about $342 million this week, a tad higher than last week’s $322 million. However, this week’s deal volumes ......
Auxano Capital raises target corpus of angel fund, plans new outing
Growth stage venture capital (VC) firm Auxano Capital, which has backed companies like online pet care platform PetSutra and fintech platform Stockal, has doubled the target of its category-II early-stage fund and aims to roll out a Gujarat International Finance Tec-City (GIFT City) fund, a top executive told VCCircle. The Gurugram-based ......
Cureskin, Fasal backer ITI Group makes first close of second VC fund
The Investment Trust of India (ITI), a financial services group backed by Sun Pharmaceutical Industries Ltd director Sudhir Valia, has made the first close of its second venture capital fund, the ITI Growth Opportunities Fund II. The investor, which has backed companies like charging infrastructure platform Bolt.Earth and skincare firm Cureskin, ......
Path to profitability key in Egyptian VC Beltone's deployment strategy
Egypt-based Beltone Venture Capital (BVC), which is a subsidiary of Beltone Holding and is currently deploying capital from two investment vehicles, is eyeing startups with a clear ‘path to profitability’ in the Middle East and North Africa region (MENA) region, according to a top company executive. The Cairo-headquartered venture capital firm ......
ADV Partners’ Suresh Prabhala on deploying second fund, a possible third outing and more
Asian private equity firm ADV Partners, which has backed companies such as Arjas Steel, Micro Plastics, Dr Agarwal's Health Care, U Gro Capital among others, is almost done deploying capital from its second fund with a corpus of $637 million that it raised in 2019. The firm, which invests across ......
Florintree-backed Satin Creditcare raising $40 mn from offshore investor
Gurugram-based microfinance lender Satin Creditcare Network Ltd is raising up to Rs 332 crore ($40 million) in fresh capital from a marquee global development bank. The money will help the non-banking finance company (NBFC) grow its lending portfolio in areas like water sanitation and hygiene, induction cookers and solar panels, according ......
Shorooq Partners eyes Saudi expansion with ‘oversubscribed’ Bedaya Fund II
Shorooq Partners, an Abu Dhabi-based venture capital firm, is set to double down on its commitments in Saudi Arabia from its oversubscribed third venture capital vehicle, as it plans to allocate about 30% of the current fund to startups in the Kingdom amid growing opportunities, according to a top company executive. In fact, ......
C4D Partners changes timeline for India-focused fund
Impact investment firm Capital 4 Development (C4D) Partners has revised the timeline for making the first close of its maiden India-focused fund. The social impact firm, which was earlier looking to make the first close of the fund by November 2023, got its registration renewed this year according to new rules ......
