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Showing posts from July, 2011

Super Angels Pitch: Fetise.com

Deal Alert: StanChart PE invests $56-M in RJ Corp beverage unit

From the Press Release:

Varun Beverages (International) Limited (VBIL) has concluded a US$56 million private equity financing with Standard Chartered Private Equity Limited (SCPE). The funds would be used to accelerate VBIL’s growth in its beverages business in India and overseas. VBIL is promoted by the RJ Corp group which comprises diversified business interests ranging from beverages, fast food restaurants, ice creams & dairy products, breweries, education, health care and hospitality. VBIL is engaged in the business of bottling, distribution and marketing of soft drink beverages, sold under the trade marks owned by PepsiCo Inc., USA. VBIL, through itself and its subsidiaries, operates in India, Sri Lanka, Nepal and Morocco.

Commenting on the development, Mr Ravi K Jaipuria, Chairman, VBIL, said: "To convert the huge opportunity of growth, penetration and enhanced territories domestically and internationally into reality, we need to build, year after year, large capacities,…

New Wave of Life Sciences Firms

Economic Times has profiles of 3 new VC-backed Life sciences companies:

Cellworks Research

FOUNDED: 2005
INVESTOR: Artiman Ventures

ACTIVITY: Drug discovery using a proprietary computer simulation platform to find new uses for old drugs in inflammation and cancer

POTENTIAL REVENUE STREAMS: Licensing drugs for development and marketing,selling its proprietary green chemistry technology to various industries
Vyome Biosciences
FOUNDED: 2010

ACTIVITY: Researching drugs for wound healing,skin pigmentation,finding new uses for old drugs in dandruff and acne treatments

INVESTOR: Navam Capital

POTENTIAL REVENUE STREAMS: Licensing drugs for development and marketing to larger companies
Mitra Biotech.

FOUNDED: 2009

INVESTOR: Kitven,Accel Partners,India Innovation Fund

ACTIVITY: Diagnostics to personalise cancer medicine in partnership with hospitals and drug companies

POTENTIAL REVENUE STREAMS: Offering testing services to cancer hospitals to match drugs to patients,partnering drug companies during clinical …

Profile of P2P Microlending enabler Micrograam

Business Today has a profile of the latest Indian adaptation of the Kiva.org model that enables individuals lend to the poor.

Micrograam, set up in February 2010 by Rangan Varadan, a former head of banking and capital market verticals at Infosys, has devised an innovative means of extending credit to the poor by creating a portal that brings investors and borrowers together, allowing them to work out their own deals. Micrograam's initiative has been a hit: in just 16 months it has found 270 investors and helped disburse loans of around Rs 87 lakh to 563 borrowers. The timing has helped too, since the microcredit sector is currently in crisis, and loans for the poor have dried up.

...Restricting its activities to Tamil Nadu and Karnataka, the Bangalore-based Micrograam has so far roped in 33 NGOs which identify borrowers. It puts up a list of prospective borrowers on its portal, along with each one's profile, the amount he needs and the maximum interest he can afford.

..."We…

Fund Manager Interview: Nainesh Jaisingh of StanChart Private Equity

After focusing substantially on exits in 2010 (when it successfully exited its investments in Mahindra Finance and ABG Shipyard), StanChart PE has announced four new investments in the first half of 2011 (in GMR Airports, Bush Foods, Privi Organics and Innoventive Industries). Three of its other portfolio companies – Endurance Technologies, Powerica and Intergloble Technology - are on the IPO path.

Venture Intelligence spoke to Nainesh Jaisingh, Managing Director of Standard Chartered Private Equity, who heads the bank’s proprietary PE investments team in India on the firm’s recent moves and his views on the current PE investing landscape in India.

This interview first appeared in the latest issue of the Venture Intelligence India Private Equity Roundup Report.

Venture Intelligence: In 2010, StanChart PE announced only one investment - the syndicated $217-M round in Coffee Day Resorts – but, this year, you have already announced four new ones. What’s changed in your outlook?

Nainesh J…

Fund Manager Interview: Mohan Kumar of Norwest

Venture Intelligence spoke to Mohan Kumar, Executive Director, Norwest Venture Partners India, on the firm’s recent investments in the VC segment. Kumar, who had earlier worked for over 18 years at companies like Motorola and Texas Instruments, has led NVP's recent investments into medical devices firm Perfint Healthcare, tablet PC-based education services firm iProf and China-headquartered Smartphones maker Borqs.

This interview first appeared in the latest issue of the Venture Intelligence India Venture Capital Report.


Venture Intelligence: In recent months, we’ve noticed that Norwest is once again active in the VC segment with investments into companies like iProf, Komli, Quikr and Perfint. What is driving this?

Mohan Kumar: NVP’s DNA has always been venture type deals. About 2 years back we had added two segments - financial services and infrastructure - where we started doing late stage deal with large size cheques. In Technology, E-Commerce, Med tech, Healthcare and Education,…

Fund Manager Interview: Vishakha Mulye of ICICI Venture

Venture Intelligence recently spoke to Vishakha Mulye, Managing Director & CEO of ICICI Venture Funds, on the firm’s recent investments and strategy going ahead.

This interview first appeared in the latest issue of the Venture Intelligence India Private Equity Roundup Report.

Venture Intelligence: In 2011, you have announced two significant-sized investments – in restaurants chain Devyani International and vocational education firm TeamLease Services. Can you tell us about them?

Vishakha Mulye: Both were proprietary deals. Devyani (which runs KFC, Pizza Hut and Costa Coffee chains in various parts of India) was the outcome of existing relationships and our liking for the Quick Service Restaurant (QSR) space. As India’s GDP continues to grow, our belief is that the QSR kind of businesses - which I term as a New Generation businesses - will also witness a tremendous growth. In other countries, these kinds of businesses have shown 30-40% growth over a long period of time and our belie…

LP Interview: Sunil Gottipati of Princeton University

Sunil Gottipati is a Principal with Princeton University Investment Company (Princo), the agency responsible for the management of Princeton University’s over $14 billion endowment. Venture Intelligence recently spoke to Gottipati who is active in managing the endowment’s allocations to Private Equity, including in emerging markets like India and China.

This interview first appeared in the latest issue of the Venture Intelligence India Private Equity Roundup Quarterly Report.

Venture Intelligence: Can you give us an overview of Princo’s investments in Indian Private Equity/Venture Capital funds?

Sunil Gottipati: It is important to highlight that the investment approach at Princo is predominantly bottom-up. While we have articulated a goal of increasing the percentage of the endowment that is invested in markets outside the US, implementation of this goal is dependent on us finding high-quality “foreign local” managers based outside the US, a task that is often challenging. We maintain c…

PE firms continue to be bullish on Education investments

As the only industry in which investments continued to growth through the 2008-09 downturn, Private Equity & Venture Capital investors continue to be bullish about investing in Education companies, reveals a new report – the second edition of “Private Equity Pulse on Education” - from research firm Venture Intelligence, the leading provider of data and analysis on PE/VC and M&A activity in India,.

Nitish Poddar and Aneesh Vijayakar of KPMG set the tone for the report in an article highlighting the opportunities and challenges facing Private Equity investors in Education. They point out how the demand-supply gap, higher spending by consumers, superior quality perception of private sector offerings and government reforms, are set to drive growth of the industry. They highlight regulatory hurdles, need for complex structuring, lack of exit routes and shortage of management & faculty talent as key constraints for making investments. According to data from Venture Intelligence, …

Deal Alert: Nexus Ventures-backed Cloud.com acquired by Citrix

Citrix Systems has acquired Nexus Ventures-backed Cloud.com, an US-based provider of software infrastructure platforms for cloud providers. The company’s CloudStack product line helps providers deploy and manage simple, cost-effective cloud services that are scalable, secure and open.

From the Venture Intelligence PE Deal database: Nexus first invested in Cloud.com (then called VMOps) in Aug 2009 and reinvested as part of the $11-M second round funding in May 2010. The other investors in the company included Index Ventures and Redpoint Ventures.

The deal represents the third exit by Nexus in the last 12 months Previously, online classifieds website OLX was acquired by Napsters late last year, while Open source Web-conferencing company Dimdim was acquired by Salesforce.com earlier this year.

For the detailed press release on the deal, please visit http://citrix.com/English/NE/news/news.asp?newsID=2313930

Deal Alert: NSL Sugar acquires Jay Mahesh Sugar for Rs.231-Cr

Edited excerpts from the Advisor's Press Release:

NSL Sugars Limited, a part of the Nuziveedu Seeds group, has acquired 100% stake in Jay Mahesh Sugar Industries Limited (JMSIL), at an enterprise value of approximately Rs.231.2 crores. Prior to the transaction, JMSIL was a wholly owned subsidiary of Spray Engineering Devices Limited (SEDL), a specialist maker of sugar plant equipment. Anand Rathi Advisors was the exclusive advisor to SEDL Group for the transaction.

JMSIL's plant, located at Majalgaon in the Beed District of Maharashtra, has a crushing capacjavascript:void(0)ity of 5,000 TCD and a Co-Gen project of 30 MW along with Distillery plant of 100 KLPD is expected to be commissioned shortly. The Co-Gen project of JMSIL will be eligible for Carbon emission reduction. JMSIL was acquired by SEDL in September 2006 with an intention to showcase the latest equipments & energy efficient technologies developed by SEDL

Role of Anand Rathi:

* Preparing the business plan and mark…

Super Angels Pitch: Vimagino