India Buzz: CPPIB, GIC, Investcorp, ShareChat, NoBroker in news
Tata Power is in talks with large pension funds and sovereign asset managers to raise at least $500 million ahead of a planned initial public offering by its renewable energy unit, a media report said.
The company is in talks with Canada Pension Plan Investment Board (CPPIB) and Singapore wealth fund GIC, among others, to raise the funds, The Economic Times reported.
The development comes soon after the Tata Group roped in TPG as an investor in Tata Motors’ electric vehicle unit.
Bahrain-based multi-asset investment firm Investcorp, which had acquired IDFC Alternatives’ sector-agnostic private equity unit three years ago, is looking to float a new India fund next year with a target corpus of $400 million, VCCircle reported. It added that the firm is also evaluating a plan to add a private credit wing to its Indian business.
The publication also said emerging markets investor Capria is wrapping up investments from its first fund and is likely to hit the road for raising a successor fund. It didn’t put a target corpus for the new vehicle.
Capria makes both direct investments as also invests in third-party venture capital and impact funds. It had made a final close for its first fund last year.
ShareChat, which runs short-form video platform Moj and entered the unicorn club with a large cheque earlier this year, is in talks to buy MX TakaTak from Times Group, Mint reported, citing sources familiar with the development. China’s Tencent is a common investor in both the ventures.
Agritech startup Waycool has initiated a process to raise $50 million in its Series D round and has already garnered $13 million, Entrackr reported. It added that the deal values the Chennai-based company over $400 million.
Bengaluru-based NoBroker is in the market to raise $80-100 million at a valuation topping $750 million, Entrackr reported. It added that General Atlantic, Tiger Global and two new investors will contribute more than 80% of the round. Other existing investors will participate on a pro-rata basis.
Sixth Sense Ventures is in talks to invest $5-7 million in pet food company Dogsee Chew, VCCircle reported. The startup had previously raised Rs 2 crore in an angel round five years ago.