News

Ascent Capital exits education services firm People Combine
Published on hyderabad.techstartup..in on 29-Nov-2016.
Private equity firm Ascent Capital Advisors has exited its investment in Hyderabad-based education services company People Combine by selling its entire stake, said two people familiar with the development. “The PE firm had invested in the company 4.5 years ago and made an exit from the company by selling their entire stake around a week ago with 2x returns in rupee terms,” one of the two persons said, requesting for anonymity. “It was kind of a promoter buyback,” the person added.  Read More
Ascent Capital exits education services firm People Combine
Published on Livemint on 29-Nov-2016.
New Delhi: Private equity firm Ascent Capital Advisors has exited its investment in Hyderabad-based education services company People Combine by selling its entire stake, said two people familiar with the development. “The PE firm had invested in the company 4.5 years ago and made an exit from the company by selling their entire stake around a week ago with 2x returns in rupee terms,” one of the two persons said, requesting for anonymity. “It was kind of a promoter buyback,” the person added. Read More
PayU Global to buy rival Citrus Pay for $130 million
Published on Live Mint on 15-Sep-2016.
New Delhi: PayU Global, the digital payments provider owned by South Africa’s Naspers Group, will buy rival Citrus Pay for $130 million in an all-cash deal. PayU India will have more than 30 million customers post the acquisition of Citrus Pay. The company forecast it will process an estimated 150 million transactions, worth $4.2 billion, in 2016. The deal, once concluded, is expected to provide an attractive exit to Citrus Pay’s investors—Ascent Capital, Beenos and Sequoia Capital. PayU confirmed that the early investors will exit but declined to disclose details. Read More
Hundreds of millions of dollars of investment have been put into commerce startups in the fast-growing market of India, from marketplaces like Flipkart and Snapdeal through to payment startups like PayTM. Now one of the more interesting of these has been acquired. PayU, an online payments company with a focus on developing markets that is owned by South Africa’s Naspers, has acquired India’s Citrus Pay for $130 million in cash, in what the companies say is the largest cash exit for a payments company in India to date. The deal, which will close in Q3, will create a larger footprint for PayU in India with over 30 million customers and projected to process 150 million transactions in 2016 worth $4.2 billion. Today, both companies offer digital wallet services — essentially a way of topping up and spending money online and on mobile for people who may not have payment cards — and payment services for online and in-store merchants. The combined company will use this to compete better with others like PayTM, which is the largest payments and mobile wallet provider in the country. Read More
Maiyas Beverages and Foods Pvt. Ltd has now garnered funds infusion of Rs 200 crore from private equity players Peepul Capital and Ascent Capital. This is the second tranche for funding for the company as the existing investor Ascent Capital, provided Rs 100 crore in 2014. PricewaterhouseCoopers acted as the advisor to Maiyas for the latest transaction. “The company’s key objective is to build a diverse range of products across snacks, sweets, instant mixes, spices and ready-to-eat and ready-to-cook categories, and go aggressively in market,” said Dr Sadananda Maiya, chairman, Maiyas Beverages and Foods. The food processing major’s broad-based ready-to-eat and ready-to-cook processed products span from rava idli mix to Rasam Xpress in cubes which have transformed today’s Indian kitchens. In addition its range of ready-to-serve range comprises rasmalai, bhelbar, fruit and nut bar, badam milk, gulab jamun and so on.  Read More
MTR founder P Sadananda Maiya raises Rs 200 crore to build food venture
Published on THE ECONOMIC TIMES on 18-May-2016.
BENGALURU: The storied food entrepreneur P Sadananda Maiya, who sold his MTR Foods eight years ago, has raised Rs 200 crore, led by private equity investor Peepul Capital, to aid the expansion plans of Maiyas Beverages & Foods. Credited with pioneering the ready-to-eat food segment in the country, Maiya plans to develop his four-year-old startup into a $100-million revenue company by end of this decade.  Read More
Maiyas Beverages raises $30 mn from Peepul Capital
Published on VCCIRCLE on 18-May-2016.
Bengaluru-based packed foods company Maiyas Beverages and Foods Pvt Ltd has raised Rs 200 crore (about $30 million) from investors led by private equity firm Peepul Capital, a person involved in the transaction told VCCircle. Read More
BigBasket raises $150 million in fresh funds
Published on Livemint on 23-Mar-2016.
Bengaluru: Online grocery BigBasket said on Tuesday that it had raised $150 million in fresh funds, giving it additional firepower against smaller rivals Grofers and PepperTap, both of which have shrunk operations after an expansion spree led to losses without yielding sufficient sales. The latest round of funding, which has been in the works since July 2015, saw participation from new investors, such as private equity (PE) firm The Abraaj Group, venture capital firm Sands Capital Management Llc and International Finance Corp. (IFC), the private sector lending arm of the World Bank. Read More
There’s more money flowing into India’s e-commerce space after BigBasket, a Bangalore-based company that sells and delivers groceries online, landed a $150 million investment led by The Abraaj Group in the UAE. The Series D round also includes participation from new backers International Finance Corporation and Sands Capital, as well as existing investors Bessemer Venture Partners, Helion Advisors, Zodius Capital and Ascent Capital. BigBasket’s last funding activity came in August 2015 when it landed $50 million. Read More
BigBasket raises $150 million funding led by Dubai's Abraaj Group
Published on Forbes INDIA Magzine on 22-Mar-2016.
Bengaluru-based online grocery retailer BigBasket.com has raised $150 million in a latest round of funding led by Dubai-based private equity firm Abraaj Group. New investors such as International Finance Corporation and Sands Capital also participated in the funding round along with existing investors: Bessemer Venture Partners, Helion Advisors, Zodius Capital and Ascent Capital. Started in 2011, BigBasket currently operates across eight large cities and 10 tier II cities across the country. The online grocery company sells over 19,000 products across 1,000 brands, including fruits, vegetables, meat and personal care products. It delivers over one million orders per month.  Read More