Ravi Gururaj, co-founder of Harvard Business Angels (India chapter) and a top executive at software firm Citrix Systems, has launched a startup incubator called Frictionless Ventures. But unlike other incubators, this one is an idea experimentation lab. Based in Bangalore, this incubator picks up and incubates concepts relevant to cloud computing, mobility and Big Data space, and accepts new ‘ideas' from both domestic and overseas entrepreneurs.
Aditi Technologies, a Bangalore-headquartered cloud company which provides Platform-as-a-Service (PaaS) solutions, has acquired Hyderabad-based cloud consulting startup Get Cloud Ready for an undisclosed amount.
Investors will keenly watch the response to the Just Dial IPO, the largest IPO by an Indian Internet company which hits the Indian bourses this Monday. The proposed IPO promising multi-bagger exits to its investors will certainly have ramifications for early stage investments in the Internet space in particular.
Singapore-based private equity firm Nalanda Capital has picked up nearly 8 per cent stake in auto ancillary firm NRB Bearings through a deal on Thursday. Nalanda India Equity Fund acquired 7.96 per cent stake in the company for Rs 27.02 crore.
Private sector lender ING Vysya Bank Ltd is planning to raise up to Rs 2,000 crore by way of preferential allotment to the promoters and institutional buyers. However, the bank did not specify any timeframe for its fundraising plans.
India Value Fund-backed Manipal Health Enterprises Ltd, which runs a country-wide hospital chain under the brand Manipal Hospitals, has invested an undisclosed amount in Ankur Healthcare Pvt Ltd, which specialises in infertility treatment.
In what will be the largest private equity investment in India's cement sector, Baring Private Equity Asia is picking up 14 per cent stake in the India unit of the French cement maker Lafarge SA.
International Finance Corporation (IFC) is investing up to $17 million (Rs 92.7 crore) in Pune-based Parag Milk Foods Pvt Ltd (Parag) for expanding the latter's milk processing projects at Manchar in Maharashtra and Palamaner in Andhra Pradesh.
Shapoorji Pallonji Group's arm Eureka Forbes Ltd is acquiring majority stake in Switzerland-based Lux International for an undisclosed amount.
Skift, a New York-based travel intelligence media company that offers news, insight, data, tools and services to the travel industry and also caters to travellers, has raised an additional $1.1 million in seed funding, led by Lerer Ventures. The current round also saw participation from four other seed funds including Ironfire Angel, MESA+, Advancit Capital and Growlab+LX Ventures (they have invested together). A group of eight angel investors also took part in the round. With this round of fund
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- Hedge Funds: Toscafund bullish on UK economy and stock market
- Regulatory: U.N. investigator seeks world moratorium on "killer robots"
Government to pay state-run fuel retailers $8.1 billion in Q4 oil subsidy. Full Article
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