By Tanu Pandey
The startup had planned to raise much less but higher investor demand led to a bigger round.
SE Asia can also tap into the clean food space by exploring opportunities in agritech.
In India, LPs’ journey from notebook to cheque book won’t happen in a hurry: Hajarnavis, Sealink CapitalBy Ishita Russell
Founded by former Goldman Sachs and KKR executive Heramb Hajarnavis, SeaLink Capital recently closed its maiden fund at $315m.
The firm set up a JV last year with Temasek to scout for infrastructure deals.
In India’s largest clean energy deal, ReNew Power Ventures acquired Ostro from Actis in a deal valued at $1.5 billion.
It is now looking to source startups outside Indonesia, with Singapore the most likely target.
“Out of the $24 billion that came into India last year, almost two-thirds went into secondary deals.”
Caisse de dépôt et placement du Québec (CDPQ), which has been investing in India’s financial services, logistics, real estate, energy and renewable sectors, is now exploring investment opportunities in consumer and healthcare sectors.
It recently formed a JV with East Ventures and Yahoo Japan to make Series B investments.
“Overall for India, the macro is better: the rupee is more stable, the current account deficit and inflation are more under control, and the Modi effect is still there and the government is delivering. Given the size and complexity of India, it is quite remarkable as to what has already happened – the bankruptcy law, GST – these all provide positive stimulus for the industry. People are re-discovering their faith in the India story – politically, the regulatory environment and the investment opportunity,” Ralph Keitel, Regional Lead for PE funds in East Asia and Pacific, IFC, said.