India Digest: Bain may invest in Aspire Home Fin; New lifesciences fund launch

Bain Capital is in talks to invest up to $125 million in Aspire Home Finance, while C-CAMP and BIRAC have come together to launch a new fund to back life sciences startups.

Bain Capital in talks to invest up to $125m in Aspire Home Finance

Investment firm Bain Capital is in discussions with Motilal Oswal Financial Services to invest around Rs 700-800 crore ($109-125 million) in Aspire Home Finance, the home financing subsidiary of the financial services firm, said a report in The Economic Times.

According to sources cited in the report, the funds may be invested through a stake dilution. Aspire Home Finance is reportedly seeking a valuation between Rs 4,000 crore and Rs 7,000 crore.

“The Aspire management has not yet taken any final decision on it as negotiations are going on, with the Aspire valuation being the focal point,” said one of the persons cited.

As per earlier news reports, Aspire Home Finance has been looking to raise Rs 500 crore ($77 million) for which it was in talks with private equity players.

Last year, the home finance firm had raised $15 million in debt from International Finance Corporation.

C-CAMP, BIRAC launch fund to back life sciences startups

The Centre for Cellular and Molecular Platforms (C-CAMP) has partnered with the government’s Biotechnology Industry Research Assistance Council (BIRAC) to launch a fund to invest in life sciences startups, as per a report in The Economic Times.

The plan is to support 8-10 life sciences startups for its first batch with funding between Rs 5 lakh and Rs 30 lakh under the scheme titled Sustainable Entrepreneurship and Enterprise Development (SEED).

“Early-stage startups with risky ideas critically need fund support before they mature to be supported by VCs or even angel investors. We are looking to fund 8-10 startups within a year, anywhere between Rs 5 lakh and Rs 30 lakh. It will be equity based… we will take up to 10% equity. This is not a grant money,” Taslimarif Saiyed, director, C-CAMP told the newspaper.

The scheme is aimed at providing capital assistance to startups across all sectors of life sciences, including healthcare, medtech, agriculture, bio-energy, industrial products and processes, and nutraceuticals.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.