Advent International is all set to acquire Encora, an Indian origin IT services firm, from Warburg Pincus for $1.5 billion, The Economic Times reported. PE firm Warburg Pincus owns 80% of the company, while the rest is held by founder Venu Raghavan and the management.
Two senior executives at investment banking firm SBI Capital Markets, Prateek Indwar (Group Head for project advisory and structured finance group) and Supratim Sarkar, have put in their papers. Indwar, Group Head (Investment Banking), is headed to IndusInd Bank, Moneycontrol reported. Gaurav Sood, Co-Head, Syndication at ICICI Securities is likely to take his role at SBI Caps, it added.
Drugmaker Ind-Swift Laboratories is in talks with a clutch of private equity firms including CX Partners, Advent International and Carlyle Group to sell a large minority stake for as much as Rs 1000 crore, after it failed to complete the sale process with PI Industries, The Economic Times reported.
Kunal Shah-led fintech platform CRED is in talks to acquire Dineout and Wint Wealth, Moneycontrol reported. If the deal transpires, it would add to monetisation by Times Internet that is set for a multi-bagger from share sale in Delhivery IPO. Times Internet owns Dineout, which helps users book tables at restaurants. Wint Wealth is an investment platform that is backed by Zerodha’s Rainmatter Capital fund, CRED’s Shah himself, Better Capital and Raise Financial’s Pravin Jadhav.
Mumbai-based Merisis Advisors is raising a dedicated startup fund and may garner as much as Rs 200 crore, The Economic Times reported. Merisis Opportunities Fund has been set up as a category I alternative investment fund and has already raised about Rs 50 crore from investors, including Bahram Vakil, cofounder of AZB Partners, Dev Bhattacharya, business head at Aditya Birla Group, and others.
Venture capital firm Accel is in talks to invest in on-demand diagnostics lab platform Orange Health, floated by former Practo executives, as part of its $5-7 million Series A funding round, VCCircle reported.
Venture Capital firm Disruptors Capital is looking to launch a Rs 100-120 crore (~$15 million) fund to invest in tech startups with ticket size ranging from Rs 50 lakh to Rs 3 crore, VCCircle reported.
B2B marketplace Bizongo is in talks to raise $100 million or more in its Series D round of funding and is in talks with the likes of Singapore state investment firm Temasek and South Africa origin tech investment house Prosus, VCCircle reported.
Avail Finance, a firm floated by Ola founder Bhavish Aggarwal’s brother Ankush that offers loans to blue collared workers, is acquiring neobank YeLo, Mint reported. Both the firms count Matrix Partners as an investor.
Sixth Sense Ventures
Consumer focused venture investment firm Sixth Sense Ventures has invested $5 million in Bengaluru-based fashion jewellery label GIVA as part of a Series A round, VCCircle reported. It added that the firm is looking to adding more investors in the same investment round.
CoinSwitch Kuber is close to acquiring a mutual fund platform Symbl in a deal worth Rs 35-40 crore, reported Entrackr.