Credit Saison launches VC fund in IndiaThe launch of Credit Saison’s VC fund is the latest by a Japanese risk capital investor in India, for whom Asia’s third-largest economy has been a happy hunting ground.
Oravel board okays $1.5b for Oyo from SoftBank, RA HospitalityThe investment comes a little over a month after the company stated that its founder and group chief executive Agarwal would invest $700 million into the company he founded in 2013, with the rest coming in from SoftBank and other unnamed investors.
Moglix, Razorpay staff make hay while Esop buyback’s onSeparately, Moglix, which counts Accel Partners, Sequoia Capital and Tiger Global Management, among others, has undertaken a Rs 5-10 crore stock buyback from eligible employees — numbering about 25 — led by the Noida-based company, along with certain investors.
VC investors make a beeline to SingaporeIndia continues to be the core focus area for most of these fund managers, but they do not want to lose out on opportunities in SE Asia, particularly in markets such as Indonesia and the broader Asean region.
Droom acquires Xeraphin to bolster fintech credit business The Sandeep Aggarwal-led auto services company has paid an estimated $3-$3.5 million to acquire the Delhi-based NBFC, which is expected to drive loan disbursals for purchasing pre-owned vehicles, and provide dealer financing under the Droom Credit business unit.
Tencent leads $110 million funding round in MX PlayerThe funding by Tencent will further intensify the competition in the domestic over the top, or OTT market which has been growing exponentially on the back of cheap mobile data, thanks to the price wars unleashed by Reliance Jio.
SHL buys Aspiring Minds in all-cash dealThe terms of the buyout, which is expected to close in November, were not disclosed. Sources, however, indicated that the deal size was $80-$100 million (about Rs 567-709 crore).
Harmeet Singh is new CEO of RateGainRateGain, which counts PE major TA Associates as its sole institutional backer, will see current CEO Bhanu Chopra transition to the chairman’s role and undertake more client-facing and product development duties.
RedDoorz gets $70m in fresh round of fundingThe investment is part of a larger Series-C round and while company executives declined to specify the exact size of the ongoing capital raising round, it is expected to cross $100 million.