<article>IL&amp;FS is in the process of exiting its joint venture with China&#8217;s Chongqing Expressway Group (CEG),  while venture capital firm Draper Associates is keen to   invest in India again.</article>

IL&amp;FS is in the process of exiting its joint venture with China&#8217;s Chongqing Expressway Group (CEG),  while venture capital firm Draper Associates is keen to   invest in India again.
<h3 style="text-align: justify;">IL&amp;FS looks to exit Chongqing Expressway Group JV</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/ilfs" target="_blank">IL&amp;FS </a>is in the process of exiting its joint venture with China&#8217;s Chongqing Expressway Group (CEG),  by selling its 49 per cent stake.
According to<a style="color: #000080;" href="http://epaperbeta.timesofindia.com/Article.aspx?eid=31816&amp;articlexml=ILFS-to-Exit-JV-with-Chongqing-Expressway-22032017011020" target="_blank"> a report</a> in The Economic Times quoting sources, the proposed deal, which has attracted around 10 bidders including Chinese firms,  is likely to be around $170 million.
IL&amp;FS had acquired a stake in an expressway project in the south western Chinese municipality of Chongqing in 2011 from State Owned Assets Supervision and Administration Commission. And the stake in the joint venture was bought by the group&#8217;s publicly traded arm, IL&amp;FS Transportation Networks Ltd.
The move to divest this stake comes as a part of IL&amp;FS&#8217;s plan to sell &#8216;non-core&#8217; assets to reduce the group&#8217;s consolidated debt which stood Rs 60,000 crore at the end of the previous financial year, said the sources.
<h3 style="text-align: justify;">Draper looks to re-enter India with $1m cheques</h3>
After he exited India in last year, Timothy Cook Draper, the founder and managing partner of venture capital firm<a style="color: #000080;" href="http://dealstreetasia.com/tag/draper-associates" target="_blank"> Draper Associates</a>, is looking to re-enter one of the fastest growing markets, and is keen to resume investing directly in early-stage Indian startups
According to a report in The Economic Times, the US-based investor plans to write cheques of about $1 million each, on average, for Indian startups working in areas such as Bitcoin, Blockchain, artificial intelligence and big data.
“I am looking for Indian startups run by people with integrity and honour, who are building great businesses with unique tech nologies and going after large markets,“ said Draper.
The investment firm will fund domestic startups from its $190-million fund raised last year, through which it plans to invest in 30 companies globally.
“<a style="color: #000080;" href="http://dealstreetasia.com/tag/blume-ventures" target="_blank">Blume Ventures</a> will be our primary co-investor, but we are open to opportunities to work with most local VCs,“ Draper said.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/64980-64980/" target="_blank">India: Blume joins Draper Venture Network for global reach</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-indusind-bank-to-buy-ilfs-securities-services-67502/" target="_blank">India: IndusInd Bank to acquire IL&amp;FS Securities Services</a>

IL&FS is in the process of exiting its joint venture with China's Chongqing Expressway Group , while Draper Associates is keen to   invest in India again.

India Digest: IL&FS looks to exit China expressway JV; Draper plans to re-enter India

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India Digest: IL&FS looks to exit China expressway JV; Draper plans to re-enter India

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