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Photo: Mint

Deals Buzz: Japan’s Orix may acquire majority stake in IL&FS

Orix Corporation of Japan, which owns 23.54 per cent in crisis-hit Infrastructure Leasing & Financial Services (IL&FS), is keen to acquire a majority stake in the infrastructure development and finance company.

Japan’s Orix may acquire majority stake in IL&FS

Orix Corporation of Japan, which owns 23.54 per cent in crisis-hit Infrastructure Leasing & Financial Services (IL&FS), is keen to acquire a majority stake in the infrastructure development and finance company, Business Standard reported. Mint reported earlier this month that the company failed to repay loans and did not manage to get approval from shareholders to get new funds. It wants to infuse fresh capital into the company from overseas so that it can meet its financial obligations. Read more here.

Ola in funding talks with Naspers at valuation of $7-8 billion

South African internet conglomerate Naspers LLC is in talks to invest in ANI Technologies Pvt. Ltd, which owns ride hailing company Ola, at a valuation of $7-8 billion, Mint reported. Besides Naspers, Ola is also in talks with Singapore’s Temasek Holdings Pvt. Ltd and two other funds to raise $1 billion in fresh capital. Read more here.

IndoSpace, GLP form JV to co-invest in infra sector

Private equity firm Everstone Group-backed industrial real estate company IndoSpace and modern logistics and technology-led solutions provider GLP have entered into a long-term strategic partnership, Mint reported. As part of the joint venture (JV), GLP will co-invest in IndoSpace’s managed investment vehicles, the companies said in a joint statement on Sunday. GLP’s real estate platform is one of the largest in the world, spanning about 700 million square feet. Through this partnership, GLP will also become an investor in IndoSpace Core, a joint venture established in 2017 by IndoSpace and Canada Pension Plan Investment Board (CPPIB), which is focused on acquiring and developing modern logistics facilities in India. Read more here.

Federal Bank will be anchor investor for Unicorn’s maiden venture debt fund

Early-stage venture capital fund Unicorn India Ventures has brought on board Federal Bank as the anchor investor (limited partner) for its maiden venture debt fund, The Economic Times reported. The fund, which is targeting a corpus of 600 crore, has been in talks with family offices and institutions having received soft commitments for up to 200 crore so far. While UnicornNSE 0.00 % India Ventures did not disclose the quantum of investment by Federal Bank, sources aware of the fund’s construct peg Federal Bank’s investment at about 10% or approximately 60 crore, in line with anchor investors’ typical investment quantum in venture debt funds. Unicorn India’s venture debt fund is expected to mark the first close of its fund by early November, a year after it was launched in November last year. Read more here.

pi Ventures raises 225 crore for final tranche of first fund

Early-stage venture fund pi Ventures, which invests in artificial intelligence- and internet of things-based (IoT) startups, has raised the final tranche of its 225 crore first fund, which will invest in deep-tech startups over the next four years. Bengaluru-based pi Ventures raised 40 crore from UK governments’ CDC Group Plc last month. The fund plans to invest in 18-20 deep-tech startups, and keep aside a significant portion for follow-on investments. It will invest across health-tech, logistics, retail, fintech and enterprise sectors. Read more here.

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