Temasek to invest $40m in Indian analytics firm

Singapore’s wealth fund Temasek Holdings is in talks with Manthan Systems, and plans to invest around $40 million in the Bangalore-based analytics and Big Data firm, DEALSTREETASIA has learnt.

Manthan, which has been operating for a decade, says its solutions help companies address analytics needs across the entire decision-making and action life cycle process. Its clients include McDonald’s, Game Group PLC, Abenson, Ecco, AdvanceRetail, Haggen, Kitchen Collection and Loblaw. The Bangalore-based firm also has offices in Singapore, Brazil, US, the UK and Philippines.

The Temasek deal may also provide partial exits for its existing investors that include, Norwest Venture Partners, Fidelity International, IDG Ventures and Draper Fisher Jurvetson (DFJ).

This will be Series D financing for the Bangalore-based company that had raised $15 million in the previous round in 2011 from Fidelity and Norwest.

The slow but steady revival of India’s economy along with the new government led by Prime Minister Narendra Modi that is perceived as business friendly, is seeing the country witnessing an upswing in the private equity investments. PE flows into India were at $3.01 billion, while exits accounted for $1.1 billion in the three month (July-September) period, marking the fifth consecutive quarter of growth in investments, PwC had said in a recent report.

Temasek has been on a deals spree in India and it recently bought 10% stake in Intas Pharma, and in October it had invested $82 million for an undisclosed stake in Devyani International, the Indian operator of KFC, Pizza Hut and Costa Coffee chains.

The Big Data space in India has several players that compete with Manthan.

Pune-based Altion Systems Pvt Ltd had recently raised an undisclosed amount in seed funding. In August, Mumbai-based Fractal Analytics raised an undisclosed amount from the world’s largest loyalty management firm Aimia. A year earlier, Fractal had raised $25 million from Boston-headquartered TA Associates.

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.