DEG invests $20m in Annapurna Finance and 10 other India deals

Odisha-based Annapurna Finance announced on Thursday that it received an equity investment of $20 million (150 crore rupees) from DEG – Deutsche Investitions – und Entwicklungsgesellschaft, the Germany-based development finance institution.

Post the first wave of COVID-19, DEG would be the second capital investor to back Annapurna, after Nuveen Global Impact Fund invested $30 million in the lender in March 2021.

The investment from DEG will not only help in furthering Annapurna’s financial inclusion priorities but also strengthen its capital base, the Indian lender said in a statement.

Annapurna Finance claims to have a gross loan portfolio of Rs5,128 crore as of September 2021. The company’s microfinance operations are spread across 336 districts in 19 states.

Micro Units Development & Refinance Agency Ltd, Oman India Joint Investment Fund, Belgian Investment Organization, SIDBI Venture Capital, DCB Bank, Oikocredit, Women’s World banking, Nuveen Global Impact Fund India, S.à r.l, and Bamboo Capital Partners are the other investors in Annapurna.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India announced from November 24-25, 2021.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
Annapurna Finance Bhubaneswar20 millionEquityDEG – Deutsche Investitions – und Entwicklungsgesellschaft-Financial ServicesFintech
SpinnyGurugram248 millionSeries ETiger Global, Abu Dhabi Growth FundAvenir Growth, Arena HoldingsAutomobiles Other Vehicles & PartsE-commerce
Dream Sports (Dream11)Mumbai840 million-Falcon Edge, DST Global, D1 Capital, Redbird Capital, Tiger GlobalTPG and Footpath VenturesTravel & LeisureeSports
Early Steps Academy Bengaluru1.2 millionSeedBEENEXT, Whiteboard Capital, Taurus Ventures-Education/TrainingEdTech
PidgeGurugram3 million-Indian Angel Network (IAN), founders of Pidge-Logistics/DistributionRidesharing/Transport
Drona PayMumbai429,530SeedVaranium Capital, Credit Saison, Kunal Shah, Jitendra Gupta, Amrish Rau-Financial ServicesFintech
The Barbeque CompanyDelhi1.5 millionPre-SeedNitesh Agarwal-FoodE-commerce
Credit FairMumbai-DebtNorthern Arc Capital-Financial ServicesFintech Lending
Globalise Delhi-SeedWhiteboard Capital, Credit SaisonHimanshu Kohli, Rohit Jain, Rishi Khanna, Arjun Lamba Financial ServicesFintech
EdvizoBengaluru150,000Angelah! Ventures-Education/TrainingEdTech
CoreStackChennai30 millionSeries BAvatar Growth CapitalDallas Venture Capital (DVC), Iron PillarSoftwareCloud Computing

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.