Hedge funds are perceived by many as very opportunistic investors with more capital and without much expertise in local markets or sectors.
Kinara Capital was set up by former Accenture executive Hardika Shah in 2011. The firm provides collateral free loans in the range of Rs 50,000 to Rs 10,00,000 for asset finance and working capital to MSMEs.
The success of companies in newage sectors such as e-commerce, cloud and others, has made the young startups rely on those who have seen early success.
While Flipkart has raised over Rs 7,200 crore in funding this year, Amazon plans to pour in Rs 12,000 crore into its Indian operations.
Just Dial had launched its Search Plus business earlier this year, moving from just a listing and discovery platform to online transactions.
This is significantly higher than the deal flow for all of 2013, when there were 179 deals worth Rs 3,900 crore, according to consulting firm EY.
Cygnus, whose promoters are four doctors, merged with Altius Healthcare in early 2013. The company reported revenues of Rs 68 crore in 2013-14.
Multiple sources familiar with the transaction said that the fund-raising will leave Snapdeal with a valuation of around $2 billion.
Zivame, Druva, red-Bus, CommonFloor and Ola are among the prominent startups that use cloud telephony services of either of these players.
Mittal has been an active angel investor with over 40 investments in businesses including online cab booking venture Ola and software startup Peelworks.
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