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January 31, 2013

Deal Alert: Fashion e-tailer Zovi raises $10-M from SAIF, Tiger Global; acquires Inkfruit

Bangalore-based online fashion retailer Zovi has acquired Mumbai-based rival firm Inkfruit. Tiger Global and SAlF have pumped $10 million into Zovi post the merger. 

The SAIF incubated Zovi is an online private label brand modeled along China's blockbuster online fashion brand VANCL. This third round of investment brings the total funding raised by Zovi to $25 million. Inkfruit is a community-based customized fashion and accessories retailer. The combined entity will have offerings for a wider age group of 16 to 45 year-olds.The company’s co-founders, IIT-Bombay alumni Kashyap Dalal and Navneet Rai, will stay invested in the entity. 

From the Venture Intelligence PE Deal database: SAIF and MakeMyTrip founder Deep Kalra had invested $5.5 M in Zovi in Jul-11. In Aug-11, SAIF and Tiger Global had invested $10-M.

In May-08, Inkfruit had raised angel funding from Mahesh Murthy, Anand Lunia, Paula Mariwala - all executives of Seedfund who made the investment in their personal capacity. 

Source: Times of India


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Deal Alert: Giftology raises seed round from Kiran Sidhu

Giftology, a New Delhi-based social gifting venture founded by Nikhil Sama and Aman Narang, has secured a round of funding from Kiran Sidhu, the Chairman of Transact Network. Sidhu, who had founded Transact in 2006, has made seed investments in various technology and biotechnology ventures. 

Giftology allows users to present redeemable gift vouchers (paid and free) to their friends. It makes money via commissions from associated sites. The funding will primarily be used to expand the team, build a better product and roll out mobile apps across platforms. 

Source:Yourstory.in

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Deal Alert: Rural supply chain mgt firm MokshaYug plans to raise $10-M

MokshaYug Access (MYA), a rural supply chain enablement company in the dairy segment started by Harsha Moily, the son of Veerappa Moily, Minister of Petroleum and Natural Gas, is looking to raise Rs.50-60 crore by second half of 2013. The company had earlier raised Rs.40 crore from venture capitalist Vinod Khosla and Unity Equity fund. The company has launched its dairy brand, Milk Route. 

MYA was started in 2006 as a microfinance firm. Over the last three years, through the milk procurement base, it has established a rural supply chain platform in 23 rural clusters that has an estimated agri output value of more than Rs.1,000 crore per annum. Its network consists of 15,100 farmers owning 18,200 cattle and 187 acres of irrigated land in 1,014 villages, across a transport network of 4,200 kms. 


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Deal Alert: 500Startups opens applications for Spring 2013 batch

Accelerator 500Startups is inviting applications for its spring 2013 batch. The accelerator, founded by super angel Dave McClure, will accept all applications through the Angel Lists applications platform. . Applications will remain open until March 1, 2013. This is for the first time that 500startups is going 100% open applications, as opposed to the referral network it generally follows.

The accelerator invests anywhere between $25,000- $250,000 in nearly 150 startups. It usually invests around $50,00 for a 5% stake. The accelerator is looking for companies with traction that want to go to the Silicon Valley, companies without traction with a functional prototype, some usage or customers and a “reasonable idea” on how to make money. 

Source: Nextbigwhat.com

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January 30, 2013

Deal Alert: Health food chain Zao scouting for VC funding

Zao Foods Private Limited, a health food chain started by former investment banker Mitali Kalra, is scouting for venture capital investment for scaling up. The company is also looking for a rental place in Cyber City, Gurgaon, to open another outlet. Currently it has outlets in Hauz Khas Village and Greater Kailash in Delhi, with a turnover of Rs.25-30 lakh.

Source: Economic Times
 
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Deal Alert: DoCircuits to raise $1.5 M

Sparsha Learning Technologies, an IIT-Kharagpur incubated company which operates the circuit design platform, DoCircuits, is looking to raise $1.5 million. Co-founded by its CEO Debabrata Bagchi, the company is among the 11 companies which were a part of Microsoft's Bangalore based Accelerator program. 


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Deal Alert: VentureNursery announces second batch of start-ups

Angel-backed start-up accelerator VentureNursery has announced the newest batch of startups for its acceleration program - Interview Master, Klip, Smart Sample and The Venturator. 

Interview Master is a hiring application which uses automated video interview solution to create, administer, evaluate interviews online using pool of pre-recorded video questions and structured evaluation tool. KLIP is a social shopping curation platform that helps users make better buying decisions and personalize their shopping experience.Smart Sample is an evolving community of new product enthusiasts that enables the users to voice their feedback and experience directly to large corporate at the launch and pre launch stage of the product. The Venturator is an online marketplace that connects start-ups with eco-system enablers. 

Source: NextBigWhat.com 

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Amarchand, Khaitan & Co. Top League Table for Most Active M&A Legal Advisors in 2012


Amarchand & Mangaldas topped the Venture Intelligence League Tables for Most Active Legal Advisor for M&A transactions for 2012 with 114 points (across 30 qualifying deals) followed by Khaitan & Co. with 108 points (across 28 deals) while AZB & Partners came in next with 92 points (27 deals).

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions (combined with credits based on fulfilment of criteria) advised by Transaction and Legal Advisory firms.

Amarchand & Mangaldas advised M&A deals during the year included the $2 Billion acquisition of United Breweries by Diageo and Legrand's acquisition of UPS business of Numeric Power Systems. Khaitan & Co. advised deals included Tech Mahindra’s $87 million acquisition of Hutchison Global Services and the acquisition of L&T’s Plastic Machinery business by Toshiba. Other legal advisors who had advised a significant number of M&A deals during the year included J Sagar Associates (24 deals) and ALMT Legal (17 deals).

Amarchand & Mangaldas also topped the table in terms of value of the deals advised, followed by AZB & Partners (whose notable deals during the year include $350 million acquisition of Lodestone Holdings by Infosys and BPO giant Genpact’s acquisition of Atyati Technologies. Khaitan & Co. came in next in terms of deals advised by value.

Amarchand & Mangaldas advised seven outbound deals, followed by Khaitan & Co. with six deals and J Sagar Associates with five deals. Khaitan & Co topped the inbound deals chart with 13 deals with AZB and Amarchand sharing the second spot (11 deals each). AZB & Partners led the domestic M&A deals advised with 13 deals while Amarchand & Mangaldas and Khaitan & Co. advised twelve and eleven domestic M&A deals respectively.

New Entrants to the Venture Intelligence M&A table for Legal Advisors during 2012 include Vichar Partners, Novojuris, S Eshwars Consultants and Kochhar & Co.

The full league table can be viewed online at http://ventureintelligence.in/leaguelaw-ma.htm

About Venture Intelligence

Venture Intelligence, a division of Chennai, India-based TSJ Media Pvt. Ltd., is the leading provider of data and analysis on Private Equity and M&A transactions in India. For more information, please visit http://www.ventureintelligence.in




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Ernst & Young, Ambit Top League Tables for Most Active M&A Transaction Advisor for 2012

Ernst & Young retained its status as the Most Active Transaction Advisor for Mergers & Acquisitions deals in the Venture Intelligence League Tables with 60 points (across 27 qualifying deals) during calendar 2012. Ambit Corporate Finance finished second with 34 points (across 9 deals) while Deloitte and PwC followed close for the third spot with 32 points each. Ambit topped the charts in terms of value of deals advised (including Diageo's $2 billion acquisition of United Breweries).

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions (combined with credits based on fulfilment of criteria) advised by Transaction and Legal Advisory firms.

E&Y advised M&A deals during 2012 included Panasonic Corp's acquisition of Firepro Systems and the acquisition of Suvi Info Management by Jagran Media. PwC advised 20 deals while Deloitte advised 17 deals during the same period. Other transaction advisors who had advised a significant number of M&A deals during the year include Ambit Corporate Finance (9 deals), Kotak Investment Banking (8 deals), MAPE (6 deals) and Avendus (5 deals).

E&Y were pure play financial advisors to 11 deals, followed by followed by Ambit Corporate Finance (9 deals) and MAPE (6 deals). E&Y also advised 8 domestic deals while Ambit topped the inbound deals advisors list with 5 deals. MAPE was the leading outbound deals advisor with 5 deals. Some of the new entrants to this year’s M&A league tables included Axis Capital (erstwhile Enam Securities), Global TrustCapital Finance and Akasam Consulting.

The full league table for the Most Active Transaction Advisor for Mergers & Acquisitions deals can be viewed online at http://ventureintelligence.in/leagueib-ma.htm

About Venture Intelligence

Venture Intelligence, a division of Chennai, India-based TSJ Media Pvt. Ltd., is the leading provider of data and analysis on Private Equity and M&A transactions in India. For more information, please visit http://www.ventureintelligence.in

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AZB, JSA Top League Table for Most Active Legal Advisor for PE Transactions in 2012


AZB & Partners retained its status – for the third consecutive year - as the Most Active Legal Advisor for Private Equity transactions during 2012. According to the Venture Intelligence League Tables, AZB finished the year with 116 points (across 29 qualifying deals). J Sagar Associates vaulted to the second spot with 112 points (across 28 deals). Amarchand & Mangaldas and Trilegal finished joint third with 90 points each (across 23 deals).

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions (combined with credits based on fulfilment of criteria) advised by Transaction and Legal Advisory firms.

AZB advised deals during the period included Warburg Pincus’ acquisition of controlling stake in publicly listed Future Capital and IFC's $75 million investment in publicly listed Religare Enterprises. JSA advised deals included Temasek’s $137 million investment in listed Godrej Consumer Products and Ocean Sparkle’s $37 million fund raise from Stanchart PE. Other legal advisors who advised a significant number of PE deals during the year included IndusLaw (22 deals) and ALMT Legal (20 deals).

Amarchand & Mangaldas topped the tables in terms of deals advised by value, including the $1 billion investment by Bain Capital and GIC in Genpact and the $125 million investment by General Atlantic in Fourcee Infrastructure Equipments. AZB & Partners came in second while Trilegal, (which advised Morgan Stanley’s $211 million investment in Continuum Wind Energy) finished third in terms of deals advised by value.

The year also saw a lot of new entrants like Vichar Partners, HSB & Partners, Bird & Bird, Kochhar & Co. enter the Venture Intelligence Most Active Legal Advisors for Private Equity league table.

The full table can be viewed online at http://ventureintelligence.in/leaguelaw-pe.htm

About Venture Intelligence

Venture Intelligence, a division of Chennai, India-based TSJ Media Pvt. Ltd., is the leading provider of data and analysis on Private Equity and M&A transactions in India. For more information, please visit http://www.ventureintelligence.in



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Spark Capital tops PE League Tables as pure play financial advisor in 2012


Ernst & Young retains Most Active Transaction Advisor status inclusive of due diligence, other services

Chennai-headquartered boutique investment bank Spark Capital made its entry into the top of the Venture Intelligence League Table for Most Active Transaction Advisor (Private Equity) for calendar 2012 acting as financial advisor to nine PE investments during the year. Among the transactions advised by Spark were the $100 million investment by GIC in Vasan Healthcare and the $27 million investment in Equitas Holdings by IFC, India Financial Inclusion Fund and MicroVentures.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions (combined with credits based on fulfilment of criteria) advised by Transaction and Legal Advisory firms.

Inclusive of its roles in due diligence and related advisory activities, Ernst & Young retained its status as overall Most Active Transaction Advisor for Private Equity in 2012. Ernst & Young advised PE deals during 2012 included SBI Macquarie’s $150-M investment in Ashoka Concessions and IDFC PE’s investment in Star Agri Warehousing and Collateral Management.

While E&Y notched up a total of 49 points (across a total of 28 deals), while Spark ended the year with 36 points and PwC completed the top three with 33 points (across 27 deals). Allegro Advisors came in at number four advising seven deals. Unitus Capital and Avendus Capital, which advised six deals each, completed the top five for 2012.

Among pure financial advisory roles, Ernst & Young and Allegro Advisors shared the second spot (after Spark) with seven deals each. Allegro Capital advised deals included GE Capital’s $23-M investment in Biocon’s subsidiary Syngene International.

Among Social Venture investments, Unitus Capital topped the charts with five deals (including the investment by GAWA Microfinance Fund and Citi in Jananlakshmi Financial Services and Sonata Finance raising investment from Creation Investments). Intellecap advised three social venture investments. 

New entrants into the Venture Intelligence league table in the category during 2012 included Akasam Consulting and SMC Capitals.

The full Most Active Transaction Advisor (Private Equity) league table can be viewed online at
http://ventureintelligence.in/leagueib-pe.htm

About Venture Intelligence

Venture Intelligence, a division of Chennai, India-based TSJ Media Pvt. Ltd., is the leading provider of data and analysis on Private Equity and M&A transactions in India. For more information, please visit http://www.ventureintelligence.in


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January 29, 2013

Deal Alert: France’s Kima Ventures invests $150-K in programming education startup Codelearn

Bangalore-based software programming learning platform Codelearn has raised $150,000 in funding from French angel investment firm Kima Ventures in return for a minority stake. Codelearn, co-founded by Hemanth Haridas in July 2012, plans to use the funding to add more courses to its website and for hiring and marketing purposes. 

The company allows programmers and non-programmers to learn various programming languages through interactive courses and an in-browser app development environment on its website. It offers these tutorials on a “need-to know” basis rather than the traditional chapter model - i.e. it only offers information that would be needed during a specific course and ignores all the smaller level details which may not be needed for a programmer. 

Source: Medianama

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