India Digest: GIC may invest in Razorpay; Omidyar scores $40.5m in exits

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Razorpay is in talks to raise $120-150 million in a fresh funding round led by Singapore’s sovereign wealth fund GIC. Separately, Omidyar Network has earned close to $40.5 million (Rs 300 crore) from exiting two of its portfolio firms.

GIC may invest in Razorpay

Online payments solutions company Razorpay is in talks to raise $120-150 million in a fresh funding round led by Singapore’s sovereign wealth fund GIC.

The round, which is likely to see participation from Sequoia and Ribbit Capital, is expected to value the Bengaluru-based company at over $1 billion, Entrackr reported.

The company is expected to use the funds for its new product offerings including neo-banking platform Razorpay X, which was launched almost a year ago. Razorpay has raised $75 million in its Series C funding round led by Ribbit Capital and Sequoia India in June last year.

Omidyar scores $40.5m from two exits

Venture capital firm Omidyar Network has earned close to $40.5 million (Rs 300 crore) from exiting two of its portfolio companies, Aspiring Minds and WhiteHat Jr, over the past two months, The Economic Times reported.

Quoting data from Tracxn, the report said that Omidyar had cumulatively invested Rs10.8 crore in Aspiring Minds, and about Rs 23.8 crore in WhiteHat Jr.

Aspiring Minds was acquired by SHL in an all-cash deal estimated at $80-100 million in October last year, while WhiteHat Jr was acquired by Byju’s last month for $300 million.

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.