The move shows pickup in early stage ecosystem.
PhonePe is in talks with Tencent & Tiger Global, which backed its parent Flipkart.
The round is expected to be led by existing backer Sequoia Capital India and Ribbit Capital besides China’s Hillhouse Capital in the less than one-year-old startup.
The VC fund is on course to close about half a dozen deals in areas ranging from artificial intelligence (AI) to urban mobility to financial technology.
KKR swooped down with a late bid after Manipal’s negotiations ran into valuation differences.
PAG, which manages assets amounting to well over $20 billion, is set to name Nikhil Srivastava from KKR as the head of private equity operations in India.
Online fantasy sports gaming has become a $1 billion market. It’s expected to reach new heights with the IPL and cricket World Cup this year.
Byju’s valuation has surged to over Rs 37,000 cr after a fresh funding of $25 mn from General Atlantic.
Another area seeing investor action is car & bike pooling, where Quick Ride is learned to have got around $15 million from Naspers.
Swiggy and Zomato, who have between them raised $2 billion since last year, are not showing any signs of slowing down this expansion.
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