Singapore fund seeks CCI nod to buy 37.5 pct in Aakash Educational services

Aakash Educational Services, which had sought to list on the exchanges via an ‘offer for sale’ (OFS) in July 2018, could see an investment by Singapore VII Topco I. The fund has sought the Competition Commission of India’s (CCI) nod to acquire a 37.5% stake in the company that runs the Aakash Institute coaching centres, according to a CCI notification…

Singapore is 3rd in Asia-Pac for nurturing women entrepreneurs, but growth outpaced by other cities

Singapore ranked third in the Asia-Pacific in fostering growth for women entrepreneurs, though its progress between 2017 and 2019 was outpaced by several other cities around the world, according to a study by US tech giant Dell. Talent and technology were Singapore's biggest strengths, while access to capital and a supportive market were its greatest weaknesses, according to Dell's 2019…

Venture capitalist Vinod Khosla is betting big on innovation startups

Billionaire venture capitalist Vinod Khosla is betting big to invest in startups in the next 10 years that are bringing radical innovation using technology in areas such as transportation, housing and construction, and food and healthcare. Khosla, whose venture capital firm Khosla Ventures, invests in experimental technologies such as robotics and biomedicine, is of the view that technologies such as…

PhonePe gets ₹698 crore from Singapore parent

Flipkart's digital payments app PhonePe Pvt Ltd (India) has received ₹698 crore from its parent entity in Singapore called PhonePe Pvt Ltd (Singapore), previously known as Flipkart Payments Pvt Ltd, Mint reported citing filings sourced by business research platform, Paper.vc. PhonePe Singapore infused the funds in the India entity by subscribing to 2,022,946 shares in the latter at ₹3,440 per…

Sequoia’s India arm may raise $200 mn to bolster  sixth fund

Sequoia Capital India, the local arm of storied Silicon Valley venture investor Sequoia, is raising $200 million to add to its existing fund, driven by a fast-growing market and interest from limited partners (LPs, or investors in the fund), said two people aware of the development, seeking anonymity. Sequoia, which is an investor in startups such as Oyo Rooms, Byju’s…

Why are Health and Wellness Startups Flourishing?

The health and wellness industry is experiencing exponential growth. These have become mainstream, and the proliferating startups in these sectors are a testimony. Till last year, there were 4892 startups in the health tech space and raised $504 million between 2014-2018. Same is true for the wellness industry as well, which has been growing at a CAGR of nearly 12per…

Opinion | Too much capital brings with itself too much distraction

In his book The Hard thing About Hard Things, Ben Horowitz, co-founder of venture capital (VC ) firm Andreessen-Horowitz, writes about his experience of raising $20 million venture capital for his two-month-old startup, LoudCloud, along with Marc Andreessen of Netscape fame. Though it was the summer of 1999, just at the precipice of the dot-com bust, the clouds of an…

Tencent bets big on Indian tech startups amid China slowdown

Chinese internet giant Tencent Holdings, best known for its WeChat messenger app, is looking to increase its bets on Indian technology companies, at a time when its home market is seeing a slowdown in venture capital investments. Tencent, which counts some of India’s largest startups including Flipkart, Ola, Swiggy and Byju’s Classes among its portfolio firms, made four fresh investments…

Drip Capital raises $25 million in Series B funding round

Fintech firm Drip Capital, which offers working capital solutions to exporters, has raised $25 million in its Series B funding round, led by Accel, with participation from existing investors Sequoia India, Wing VC, and Y Combinator. New investors in the round include GC1 Ventures and institutional investor platform Trusted Insight. The company has raised over $45 million in equity till…

Singapore fashion tech startup MadThread bags over $500k from AngelCentral

Singapore-based fashion rental startup MadThread has raised over US$513,000 (or S$700,000) in seed funding in a syndicate deal managed by AngelCentral, an angel investment community that supports startups in Southeast Asia. AngelCentral partner Phey Teck Moh led the round, which marks AngelCentral’s sixth syndicate. Eleven other investors also participated in the round. MadThread advocates a smarter way of fashion shopping…