While Creador was initially looking to invest around a fifth of the corpus from new fund in India, this could increase going ahead.
The company expects Rs 7,000 crore worth of transactions on its platform in fiscal 2015, of which 60-70% will be through digital payments business.
The quantum of new funds raised by India-focused venture capital firms in the last three years – $ 3 billion – is drawing attention from both local and overseas investors.
As average age of startup entrepreneurs steadily falls, venture capitalists & angel investors enter college campuses across India in hope of discovering the next big venture.
Temasek has bought 12.5% stake in Intas Pharmaceuticals, one of India's top 10 drug makers by sale, for a little over Rs 1,100 crore, people involved with the development said.
The Mumbai-based startup founded by two IIT Bombay graduates helps manufacturing companies like Cipla and Tata Rallis make their factories more efficient.
The company, founded in 2009, is in talks to acquire an unnamed company based out of Singapore for $20 million (Rs 118 crore).
PE/VC fundraising for India focused vehicles slipped to $2.25 billion across 26 funds in 2013, compared to $3.88 billion raised by 34 funds in 2012.
Nearly 98% of the new fund came from Sequoia’s existing limited partners such as university endowments, pension funds and family offices.
The expansion plans were formalised after the six-year-old company turned profitable in January, said founder Hitendra Chaturvedi.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon