CMI Limited Co. Acquires Engineered Plastic Systems

Capital Partners is pleased to announce that on March 9, 2020, its investment company CMI Limited Co. purchased Engineered Plastic Systems (“EPS”) (www.epsplasticlumber.com), a leading manufacturer of sustainable, high-density polyethylene (“HDPE”) boards used primarily in decking, railing, and recreational facility products. EPS markets its products under the Lumberock, Bear Board, and Perennial Park Products brands and its products are known for their superior performance in marine environments. The Company serves customers across a variety of residential and non-residential end markets in 50 states and select export markets. EPS serves customers directly through its online sales channel and sales team, as well as through its distributor and dealer networks.

“The acquisition of EPS confirms our commitment to innovation and expands our portfolio of sustainable solutions,” says Duane Bryant, President and CEO of CMI. “Their mono-extruded HDPE decking boards, deck railing, and fence railing add to our extrusion expertise, regional production footprint and ability to serve new and existing customers with a broader array of products. Additionally, EPS’ products are designed to perform exceedingly well in the marine markets we serve.”

“Capital Partners and management remain focused on continued growth through organic initiatives and acquisitions. Unlike most private equity firms, our investment companies keep debt low to support growth,” said Managing Director James Sidwa. “CMI has built a compelling business and has been a great fit with our investment philosophy. We were pleased to help them source and fund this key addition to their business.”

CMI (www.cmilc.com), headquartered in Woodstock, Georgia, has manufacturing facilities in Georgia, Florida, Washington and with EPS, Illinois. The company operates three divisions; 1) CMI is the leading manufacturer of vinyl, fiber-reinforced polymer, aluminum sheet piling serving marine, retaining wall, flood protection, and water control applications as well as some of the most challenging chemical containment, levee stabilization, and groundwater cut-off applications; 2) Gator and Mantle are leading fabricators of aluminum bridge, dock, gangway and access solutions serving recreational marinas, residential and commercial dock and access markets and 3) EPS. The company provides design, engineering, project management and proprietary installation equipment to offer complete application solutions.

Capital Partners () is a private investment firm founded in 1982. Its principals have invested in more than 100 platform and add-on acquisitions across a variety of industries. Based on the combination of solid investment discipline and its high-equity approach, it has successfully partnered with management teams to create growth and strong returns through multiple economic cycles. Capital Partners is currently investing a $600 million committed private equity fund.

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Allianz Capital Partners´Create Global Infrastructure Fund

Allianz Global Diversified Infrastructure Equity Fund (AGDIEF) for institutional clients holds first close with commitments exceeding EUR 600mn / The fund invests alongside Allianz in a diversified portfolio of infrastructure equity funds and co-investments globally / The target fund size is EUR 900mn.

Allianz Global Investors (AllianzGI) today announced the first close of the Allianz Global Diversified Infrastructure Equity Fund (AGDIEF). The fund, which was launched earlier this year and is managed by Allianz Capital Partners (ACP), attracted commitments exceeding EUR 600mn from institutional clients. The AGDIEF will invest in leading infrastructure fund managers and will pursue co-investments alongside such managers globally. The target size of the fund amounts to EUR 900mn. It will invest jointly with Allianz and follows the successful close of the Allianz European Infrastructure Fund (AEIF), which was raised last year.

The AGDIEF will pursue primary fund commitments, secondary transactions and co-investments globally to build a diversified portfolio of core, core+ and value-add infrastructure assets. Target sectors include energy, transportation, communication, environmental and social infrastructure. Whereas the focus of the AEIF is on direct investments in core infrastructure assets in the Eurozone, the AGDIEF aims to deliver attractive risk-adjusted returns through a highly diversified global infrastructure portfolio. As is the case for the AEIF, the AGDIEF will be pursuing a co-investment approach with Allianz as Allianz will contribute at least the same amount as third-party investors commit to the target investments, thus ensuring strong alignment of interest.

Christian Fingerle, Chief Investment Officer at Allianz Capital Partners, said:
“The AGDIEF will invest in funds and co-investments globally whereby co-investments enable the strategy to gain specific exposure to attractive market trends. We are delighted by the strong interest we have seen – even in these challenging times – from the market for our second infrastructure fund, which has an investment focus that is complementary to the AEIF. This will further strengthen our client offering at Allianz Capital Partners to the benefit of all our investors.”

Yves Meyer-Bülow, Head of Infrastructure Funds and Co-Investments at Allianz Capital Partners, added:
“The AGDIEF seeks to build a defensive and cash-yielding portfolio of infrastructure funds and co-investments, diversified across sectors and regions globally. We are pleased that we can open the strategy that we successfully developed for Allianz investors to our institutional clients with a highly aligned approach.”

ACP is a leading international financial investor in infrastructure equity with more than EUR 17bn Assets under Management. In total, ACP manages more than EUR 34bn of alternative equity assets in private equity, infrastructure and renewables. ACP and AllianzGI manage EUR 77bn of alternative assets in aggregate.

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Allianz invests in broadband rollout in Lower Austria

Allianz Capital Partners (ACP) on behalf of Allianz insurance companies signed an agreement for the acquisition of a 75% stake in the Niederösterreichische Glasfaserinfrastrukturgesellschaft (“nöGIG”). The investment volume is c. EUR 300 million. ACP was selected as preferred bidder in July by the Niederösterreichische Breitband-Holding, which is an entity controlled by the Federal State of Lower Austria, after a competitive bidding process that had attracted significant interest from institutional investors.

The purchase of the stake in the nöGIG supports the rollout of a new fibre-to-the-home (“FTTH”) broadband network to around 100,000 homes between 2020 and 2022 with a focus on municipalities with less than 5,000 inhabitants. The construction phase is scheduled to begin in 2020.

Christian Fingerle, Chief Investment Officer at Allianz Capital Partners said:

"We are convinced that jointly with the Niederösterreichische Breitband-Holding we can make a significant contribution to modernize the digital infrastructure of Lower Austria and are delighted that Allianz was chosen as a partner for this project. This is our second infrastructure investment in Austria and we are committed to investing in more projects that provide essential services for the public in Austria and across Europe.”

ACP is a major international financial investor in infrastructure equity with more than EUR 11bn Assets under Management. In 2019, ACP also invested in the further development of France´s FTTH network.

The transaction is expected to reach financial close by the end of the year. 

KPS Purchase Engine Maker, Briggs & Stratton

The United Steelworkers (USW) today said that KPS Capital Partners' (KPS) acquisition of Briggs & Stratton will save hundreds of jobs at the bankrupt engine maker's Milwaukee manufacturing facility.

USW International President Tom Conway said that KPS, a private equity firm, has a proven track record of investing in manufacturing facilities and operating them profitably and sustainably.

"Steelworkers, our families and communities cannot afford to allow these good, union jobs to continue to disappear," Conway said. "KPS brings experience and a long-term business plan geared toward keeping our plant viable and employment secure."

USW District 2 Director Michael Bolton praised the union workers for standing together and keeping focused on working safely throughout Briggs & Stratton's recent financial struggles.

"Our union is committed to working with KPS to ensure that the proud tradition of engine-making is preserved for future generations of USW members here in Milwaukee," Bolton said. "As long as workers remain united in solidarity, there are no limits to what we can accomplish."

The USW represents 850,000 workers employed in manufacturing, metals, mining, pulp and paper, rubber, chemicals, glass, auto supply and the energy-producing industries, along with a growing number of workers in public sector and service occupations.

General Atlantic Invest in Reliance Jio Platforms

Reliance Industries Limited (“Reliance Industries”) and Jio Platforms Limited (“Jio Platforms”), India’s leading digital services platform, today announced an investment of ₹ 6,598.38 crore by General Atlantic, a leading global growth equity firm. This investment values Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore. General Atlantic’s investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis. With this investment, Jio Platforms has raised ₹ 67,194.75 crore from leading technology investors including Facebook, Silver Lake, Vista Equity Partners and General Atlantic in less than four weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain. Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.

General Atlantic is a leading global growth equity firm with a 40-year track record of investing in the Technology, Consumer, Financial Services and Healthcare sectors. As an integrated team operating under a global investment platform across 14 locations, General Atlantic invests behind themes that are driven by innovation and entrepreneurship and supported by long-term secular growth. General Atlantic has a longstanding tradition of backing disruptive entrepreneurs and companies around the world, including Airbnb, Alibaba, Ant Financial, Box, ByteDance, Facebook, Slack, Snapchat, Uber and other global technology leaders.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am thrilled to welcome General Atlantic, a marquee global investor, as a valued partner. I have known General Atlantic for several decades and greatly admired it for its belief in India’s growth potential. General Atlantic shares our vision of a Digital Society for India and strongly believes in the transformative power of digitization in enriching the lives of 1.3 billion Indians. We are excited to leverage General Atlantic’s proven global expertise and strategic insights across 40 years of technology investing for the benefit of Jio.”

Bill Ford, Chief Executive Officer of General Atlantic, said, “As long-term backers of global technology leaders and visionary entrepreneurs, we could not be more excited about investing in Jio. We share Mukesh’s conviction that digital connectivity has the potential to significantly accelerate the Indian economy and drive growth across the country. General Atlantic has a long track record working alongside founders to scale disruptive businesses, as Jio is doing at the forefront of the digital revolution in India.”

Akash Ambani, Director of Reliance Jio, said “We are delighted that a renowned global investor like General Atlantic is partnering with us in our journey to digitally empower India and Indians. Jio is committed to make a digitally inclusive India that will provide immense opportunities to every Indian citizen especially to our highly talented youth. General Atlantic’s endorsement and partnership energises Jio’s young team to set, and achieve, even more ambitious goals in our onward march.”

Sandeep Naik, Managing Director and Head of India & Southeast Asia at General Atlantic, added, “General Atlantic has nearly two decades of experience of investing in India, and specifically in founder-led businesses that are based upon principles of enablement, inclusion and progress. In just three and a half years, Jio has had a transformational impact in democratizing data and digital services, propelling India to be positioned as a leading global digital economy.”

The transaction is subject to regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners, and Davis Polk & Wardwell acted as legal counsel. Paul, Weiss, Rifkind, Wharton & Garrison and Shardul Amarchand Mangaldas & Co. acted as legal counsel to General Atlantic.

About Reliance Industries Limited (RIL)

RIL is India’s largest private sector company, with a consolidated turnover of INR 659,205 crore ($87.1 billion), cash profit of INR 71,446 crore ($9.4 billion), and net profit of INR 39,880 crore ($5.3 billion) for the year ended March 31, 2020.

RIL’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services. RIL is the top-most ranked company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Corporations’ – currently ranking 106th in terms of both revenues and profits. The company stands 71st in the ‘Forbes Global 2000’ rankings for 2019 – top-most among Indian companies. It ranks 10th among LinkedIn’s ‘The Best Companies to Work For In India’ (2019).

About Jio Platforms Limited

Jio Platforms Limited (“Jio”), a wholly-owned subsidiary of Reliance Industries Limited, has built an all-IP data strong future proof network with latest 4G LTE technology (through its wholly owned subsidiary, Reliance Jio Infocomm Limited).

Jio vision is to bring transformational changes in the Indian digital services space to enable Digital India for 1.3 billion Indians and propel India into global leadership in the digital economy. It has created an eco-system comprising of network, devices, applications and content, platforms, service experience and affordable tariffs for everyone to live the Jio Digital Life. As part of its customer offers, Jio has revolutionised the Indian telecom landscape by making voice calls for Jio customers absolutely free, across India, to any network, and always.

About General Atlantic

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. The firm has approximately $34 billion in assets under management as of March 31, 2020. General Atlantic has more than 150 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore.

Chi-Med Invested By General Atlantic

Hutchison China MediTech Limited (“Chi-Med” or the “Company”) (Nasdaq/AIM: HCM) today announces that it has entered into a definitive agreement for the sale of US$100 million of shares at a price equivalent to US$25.00 per American Depositary Share (“ADS”) via a private placement to General Atlantic, a leading global growth equity firm.  This fundraise could increase to US$200 million, through a warrant granted with a term of 18 months for a further US$100 million in Chi-Med shares exercisable at a price per share equivalent to US$30.00 per ADS, a 32.5% premium to the 30-day VWAP.

Chi-Med is delivering on its strategic intention to become a global oncology business.  In 2020, there has been significant progress in building an innovative, global, science-focused biopharmaceutical company including three U.S. Food and Drug Administration (FDA) Fast Track Designations for fruquintinib in metastatic colorectal cancer and surufatinib for two forms of advanced neuroendocrine tumors.  The submission of a New Drug Application (NDA) for surufatinib in the United States is also planned for later this year.

Chi-Med will receive all proceeds from this private placement, which will fund ongoing research and clinical development and support the further growth of its commercialization capabilities both in China and globally.

This financing also highlights the strong commitment General Atlantic is making to Chi-Med.  General Atlantic has 40 years’ experience in investing in global growth equity companies, with a demonstrated history in the biopharma sector, and has approximately US$34 billion of assets under management.  It has a broad portfolio of life science company investments with whom they constructively partner to support further growth.

Mr. Christian Hogg, Chief Executive Officer of Chi-Med, said, “Over the last few months, we have made significant development, regulatory and commercial progress in several oncology programs intended for the global market.  We are delighted therefore to welcome General Atlantic to our existing shareholder base and to further strengthen our balance sheet.  We are confident that in this phase of material progress for Chi-Med we can deliver innovative cancer therapies to patients internationally.”

Mr. David Hodgson, Vice Chairman of General Atlantic, said, “General Atlantic is committed to supporting innovation in the global life sciences industry.  Chi-Med has built a deep pipeline of assets powered by its robust research and development engine.  We endorse Chi-Med’s strategy to become a leading biopharma innovator and will leverage our global organization in support of Chi-Med’s mission to deliver safe and effective therapeutics to cancer patients in need around the world.”

Mr. Lefei Sun, Managing Director and Head of Healthcare for China at General Atlantic, continued, “We believe Chi-Med is a pioneer of the Chinese biotech market in bringing advanced oncology therapies to the world.  We are delighted to partner with Chi-Med to help unlock future value.”

Chi-Med has agreed to issue the equivalent of 4,000,000 ADSs in a private placement to General Atlantic at a price equivalent to US$25.00 per ADS, resulting in aggregate gross proceeds of US$100 million to Chi-Med.  The purchase price represents a 10.4% premium to the 30-day VWAP.  The Company has also granted a warrant to General Atlantic to purchase up to an additional equivalent of 3,333,334 ADSs, at an exercise price equivalent to US$30.00 per ADS, and a term of 18 months.

Description of Share Capital and Securities Regulation

Each ADS represents five ordinary shares, par value US$0.10 each (the “Shares”).  The new Shares to be issued by Chi-Med including shares issuable upon exercise of the warrant, pursuant to the private placement will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of Chi-Med.

The securities to be sold in the private placement will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state or other applicable jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions’ securities laws.  Subject to certain conditions, the Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission registering the resale of the Shares sold in the private placement and the Shares issuable upon exercise of the warrant to facilitate future resales by General Atlantic.  Any offering of the securities under the resale registration statement will only be made by means of a prospectus.  General Atlantic has the right to appoint an observer or a representative director to the board of directors of the Company upon achieving certain ownership thresholds in the future.

This announcement, including any information included or incorporated by reference in this announcement, is for information purposes only and shall not constitute nor form part of, and should not be construed as, an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.  No public offering of the securities referred to in this announcement is being made in the United States or elsewhere.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Admission to the London Stock Exchange AIM market and Shares Outstanding After Completion

The private placement of 20,000,000 Shares (equivalent to 4,000,000 ADSs) to General Atlantic will comprise the issuance of 18,700,000 Shares (“First Tranche Shares”) and the issuance of 1,300,000 Shares (“Second Tranche Shares”).  Application will be made to the London Stock Exchange for the First Tranche Shares and the Second Tranche Shares to be admitted to the AIM market operated by the London Stock Exchange (“Admission”).  It is expected that admission of the First Tranche Shares will become effective at 8:00 a.m. British Summer Time on July 3, 2020 and admission of the Second Tranche Shares will become effective at 8:00 a.m. British Summer Time on July 6, 2020.

Following admission of the First Tranche Shares to trading on AIM, the issued share capital of Chi-Med will consist of 709,274,765 ordinary shares of US$0.10 each, with each share carrying one right to vote and with no shares held in treasury.  Following admission of the Second Tranche Shares to trading on AIM, the issued share capital of Chi-Med will consist of 710,574,765 ordinary shares of US$0.10 each, with each share carrying one right to vote and with no shares held in treasury.  The figure of 709,274,765 (following admission of the First Tranche Shares but prior to admission of the Second Tranche Shares) and the figure of 710,574,765 may be used by shareholders as the denominator for the calculations by which they could determine if they are required to notify their interest in, or a change to their interest in, Chi-Med under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

For illustrative purposes only, if the 710,574,765 ordinary shares were converted in their entirety, they would be equivalent to 142,114,953 Nasdaq-traded ADSs (each equating to five ordinary shares).

In addition, the Company will apply for the block listing of up to 16,666,670 new ordinary shares in accordance with the block listing process under Rule 29 of the AIM Rules for Companies to cover the potential exercise of the warrant.  The new ordinary shares subject to the block admission will not be allotted immediately, but rather will be issued and allotted on exercise of the warrant from time to time.  The Company will make six-monthly announcements of the utilization of the block listing, in line with its obligations under Rule 29 of the AIM Rules for Companies.  The expected effective date of admission of these securities to AIM is on July 6, 2020.

Odyssey Investment Partners Closes $3.25 Billion Sixth Investment Fund

New York, February 13, 2020 – Odyssey Investment Partners, LLC (“Odyssey”), a leading middle-market private equity firm, today announced the first and final closing of Odyssey Investment Partners Fund VI, LP (“Fund VI”), a $3.25 billion private equity investment fund formed to pursue control-oriented investments and management buyouts of established middle-market companies.  Fund VI was oversubscribed and closed at its hard cap with significant upsizing by existing investors and by adding several new institutional investors.

Odyssey will continue to be led by Senior Managing Principals Brian Kwait (CEO), William Hopkins (Vice Chairman) and Stephen Berger (Chairman), and Jeffrey McKibben and Craig Staub who have been promoted to Senior Managing Principal, further strengthening the firm’s leadership team.  In addition, Jason Cowett, Jonathan Place and Jeff Moffett have been named Managing Principal, joining Rob Aikman, Doug Hitchner, Dennis Moore and Brian Zaumeyer. The senior investment team represents an average of 16 years of investment experience at Odyssey.

Mr. Kwait said, “We are sincerely grateful for the enthusiasm of our long-standing limited partners, as well as the expansion of our base with several leading global investors.  Our successful fundraising effort reflects our investors’ considerable confidence in our team, which will continue to be focused on building value on their behalf in the coming years. We are grateful to Jennifer Rogg, our Head of Investor Relations, for her exceptional efforts to ensure our successful fundraise.

“Odyssey’s success and growth over many years is a direct result of our philosophy of internal talent development.  Adding Jeffrey McKibben and Craig Staub to Odyssey’s leadership team is an important step as we look toward the future.  Jeff and Craig have made extraordinary contributions to our firm as outstanding investors and leaders.  Their promotions are richly deserved and we will benefit for many years to come from their enhanced roles.

“We are also pleased to promote Jason, Jonathan and Jeff to Managing Principal.  Our people, team culture and apprenticeship approach are Odyssey’s biggest assets, and we are delighted that each of these professionals has grown significantly during their years with the firm.”

Odyssey will continue to execute the buy-and-build strategy it has refined over the last 25 years in the industrials and business services sectors. This focus has and will continue to result in building market leading companies led by world class management teams.  Within the firm’s target sectors, particular areas of focus include aerospace, defense, insurance services, safety & testing, automated equipment & components, industrial services, equipment rental, pharma services, energy services and packaging.

Odyssey’s previous fund closed in 2014 with capital commitments of $2 billion.

Debevoise & Plimpton LLP served as fund counsel with respect to Fund VI.

About Odyssey Investment Partners, LLC

Odyssey Investment Partners, LLC, with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 20 year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority controlled investments in industries with a long-term positive outlook and favorable secular trends

Odyssey Investment Partners Acquires NSi Industries

NEW YORK, March 2, 2020 -- Odyssey Investment Partners, LLC ("Odyssey") announced today that an affiliate has acquired NSi Industries (the "Company") from Blue Sea Capital LLC. Financial terms of the transaction were not disclosed. 

NSi is a leading supplier of a wide variety of electrical connector, fitting, control and wire management products for construction, maintenance and repair applications. NSi's well-known brands include Polaris™ insulated connectors, Bridgeport Fittings, TORK® time and lighting controls and Platinum Tools® connectors & tools. NSi has a 40-year history of providing innovative, profitable and quality solutions to its distributor partners with an unparalleled customer-centric approach. NSi is headquartered in Huntersville, North Carolina, with additional facilities in Stratford, Connecticut and Newbury Park, California. More information on NSi can be found at www.nsiindustries.com.

The NSi management team, including CEO G. R. Schrotenboer and COO David Di Donato, has invested significantly in the transaction and will continue to lead the Company under Odyssey's ownership. 

Jason Cowett, a Managing Principal of Odyssey, said: "We are excited to acquire NSi Industries with the Company's management team. NSi has established a strong, incumbent market position and a comprehensive offering of stock and flow products in a large, fragmented industry. We look forward to collaborating with G. R., Dave and their team to capitalize on NSi's many attractive and diverse growth opportunities to build value for all of its stakeholders."

Mr. Schrotenboer said: "We are enthusiastic about our new partnership with Odyssey, which has a long track record of supporting growing companies and management teams looking to further elevate their businesses. Our team has an ambitious agenda, including continuing to expand our product portfolio and service capabilities, and identifying new ways to help our distributor partners become even more successful. Odyssey understands our business and its opportunities, and is well-positioned to help us build on our accomplishments to date and achieve our full potential."

About Odyssey Investment Partners, LLC
Odyssey Investment Partners, LLC, with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 25 year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit www.odysseyinvestment.com.

Pamlico Capital Invest in Fastpath

Pamlico Capital (“Pamlico”) announced that it has completed a growth investment in Fastpath Solutions, LLC (“Fastpath” or the “Company”), a leading provider of governance, risk, and compliance (GRC) software solutions. Founder and CEO Andy Snook, along with other management team members, will maintain a significant ownership stake in Fastpath. Further transaction details were not disclosed.

This investment comes while Fastpath is achieving record growth, benefitting from increasing demand for cloud-based software that automates compliance activities. The Company’s flagship product, Assure, is a cloud-based platform enabling corporate compliance, finance, and IT departments to monitor and audit user access. The SaaS (Software as a Service) platform offers real-time, cross-platform visibility across major Enterprise Resource Planning (ERP) software applications. Founded in Des Moines, Iowa in 2004, Fastpath has expanded its GRC platform and now serves over 1,000 customers in more than 30 countries.

“Fastpath is well positioned for future growth, as automated solutions are replacing manual compliance activities, and our existing customer relationships expand as clients seek additional GRC capabilities,” said Andy Snook, Founder and CEO. “Our team is proud of our success to date and is thrilled to bring in Pamlico as our first institutional equity partner. We look forward to their help with scaling our team and expanding our go-to-market initiatives.”

“We are incredibly excited to partner with Andy and Fastpath management,” said Eric Wilkins, Pamlico Partner. “We were impressed by their unique culture. Their team has a real passion for helping clients solve their toughest compliance and security challenges, as evidenced by the company’s fantastic customer satisfaction ratings.” Raj Parikh, Pamlico Vice President, added, “Our goal is to help Fastpath accelerate its sales and marketing initiatives, while also broadening the company’s product offering, extending customer relationships across a wider set of ERP applications and GRC functionality.”

Fastpath was advised by Dickinson, Mackaman, Tyler & Hagen, P.C (legal advisor). Pamlico Capital was advised by Alston & Bird LLP (legal advisor).
Pamlico Capital (“Pamlico”) announced that it has completed a growth investment in Fastpath Solutions, LLC (“Fastpath” or the “Company”), a leading provider of governance, risk, and compliance (GRC) software solutions. Founder and CEO Andy Snook, along with other management team members, will maintain a significant ownership stake in Fastpath. Further transaction details were not disclosed.

This investment comes while Fastpath is achieving record growth, benefitting from increasing demand for cloud-based software that automates compliance activities. The Company’s flagship product, Assure, is a cloud-based platform enabling corporate compliance, finance, and IT departments to monitor and audit user access. The SaaS (Software as a Service) platform offers real-time, cross-platform visibility across major Enterprise Resource Planning (ERP) software applications. Founded in Des Moines, Iowa in 2004, Fastpath has expanded its GRC platform and now serves over 1,000 customers in more than 30 countries.

“Fastpath is well positioned for future growth, as automated solutions are replacing manual compliance activities, and our existing customer relationships expand as clients seek additional GRC capabilities,” said Andy Snook, Founder and CEO. “Our team is proud of our success to date and is thrilled to bring in Pamlico as our first institutional equity partner. We look forward to their help with scaling our team and expanding our go-to-market initiatives.”

“We are incredibly excited to partner with Andy and Fastpath management,” said Eric Wilkins, Pamlico Partner. “We were impressed by their unique culture. Their team has a real passion for helping clients solve their toughest compliance and security challenges, as evidenced by the company’s fantastic customer satisfaction ratings.” Raj Parikh, Pamlico Vice President, added, “Our goal is to help Fastpath accelerate its sales and marketing initiatives, while also broadening the company’s product offering, extending customer relationships across a wider set of ERP applications and GRC functionality.”

Fastpath was advised by Dickinson, Mackaman, Tyler & Hagen, P.C (legal advisor). Pamlico Capital was advised by Alston & Bird LLP (legal advisor).

10th Magnitude Acquired By Cognizant

Cognizant (Nasdaq: CTSH) today announced it has entered into an agreement to acquire Chicago-based 10th Magnitude, a leading cloud specialist focused exclusively on the Microsoft Azure cloud computing platform. The acquisition will expand the Microsoft Azure expertise within Cognizant’s new Microsoft Business Group, adding development and managed services hubs in major cities throughout the U.S. 10th Magnitude will be Cognizant’s sixth cloud-related acquisition in 2020, highlighting Cognizant’s continued acceleration and execution of its cloud strategy.

10th Magnitude, one of Microsoft’s longest-standing Azure-centric partners, offers advisory and managed services, including data center transformation, application modernization, and data intelligence with AI-driven analytics and insights. 10th Magnitude’s solutions and experts enable efficient, secure cloud transformations for Fortune 500 and other leading brands across industries ranging from healthcare and financial services to consumer goods and aerospace.

“Modernizing business platforms by shifting to the cloud is a key priority for our clients,” said Greg Hyttenrauch, President, Cognizant Digital Systems and Technology. “The acquisition of 10th Magnitude underscores our commitment to Microsoft, one of our leading strategic partners, and will further strengthen our ability to provide Azure expertise to our clients as they embrace the cloud. We are excited to unlock the power of this acquisition and to welcome 10th Magnitude’s outstanding team to Cognizant.”

“Hyperscale cloud infrastructures are enabling organizations to be more agile and improve their business performance to better serve customers. The ability to pivot, innovate, remain flexible and resilient, with remote access to key applications, is especially important in these uncertain times,” said Alex Brown, Chief Executive Officer, 10th Magnitude. “Our award-winning Azure experts have been helping organizations to securely move to and grow within the cloud for more than a decade. With Cognizant, we will be able to offer greater scope and scale to help our clients use an open and highly-adaptable cloud computing platform to compete more effectively.” Upon the close of the acquisition, 10th Magnitude’s Azure experts will join Cognizant as part of the Microsoft Business Group. The transaction is expected to close in the third quarter of 2020, subject to the satisfaction of closing conditions, including regulatory clearance. Financial details were not disclosed.

10th Magnitude is a Microsoft Gold Partner and one of 70 certified Azure Expert Managed Service Providers worldwide. In 2020, 10th Magnitude received the Microsoft U.S. Application Innovation Partner Award, and the Microsoft U.S. Solution Assessment Partner Award. 10th Magnitude has been recognized as the 2019 Global Datacenter Migration Partner of the Year, 2019 Global DevOps Partner of the Year, and the 2018 Open Source Applications and Infrastructure on Azure Partner of the Year. The company has also received accolades for its workplace culture from Inc. magazine and Crain’s Chicago Business. Cognizant is also a Microsoft Gold Partner across multiple technology categories and is a Microsoft Azure Data Partner as part of a global strategic relationship. Cognizant was named 2020 Microsoft Partner of the Year for SAP on Azure and Government and as U.S. Partner for Modern Workplace – Apps & Solutions for Microsoft Teams. Cognizant was recognized as a Leader in Gartner’s 2020 Magic Quadrant for Public Cloud Infrastructure Professional and Managed Services, Worldwide.

EQT Infrastructure acquire Colisee

EQT Infrastructure enters exclusive negotiations to acquire a majority stake in Colisee, a leading European operator of nursing home facilities and home care services agencies in France, Belgium, Spain and Italy. EQT Infrastructure will support Colisee and the management team, led by Christine Jeandel, with their continued focus on quality and well-being of residents, and growth opportunities in current and new markets

Colisee constitutes a thematic investment in social infrastructure, a sector where EQT has extensive experience and a proven track record from owning and developing strong companies
EQT today announced that the EQT Infrastructure V fund (“EQT Infrastructure”) has entered exclusive negotiations to acquire a majority stake in Colisee (“Colisee” or the “Company”) owned by IK Investment Partners.

Established in 1976, Colisee is a leading operator of nursing home facilities and homecare services for elderly. The Company, which is headquartered in Paris, France, has developed a geographical footprint and operates 270 nursing homes as well as assisted living facilities and home care services agencies across France, Belgium, Spain and Italy. Colisee employs more than 16,000 people and has a turnover exceeding EUR 1 billion.

Colisee’s long-term development is supported by strong secular trends, such as an aging European population and an increased shift to privately managed elderly care. Colisee’s high focus on care and resident well-being is a key attraction in a sector where EQT Infrastructure has extensive experience.

Following the closing of the transaction, EQT Infrastructure will support the continued development of Colisee and its pursuit of new growth opportunities in current and new markets, drawing on EQT’s global footprint and extensive network of advisors. Moreover, EQT will support Colisee in further developing the Company’s social responsibility and sustainability ambitions.

The investment in Colisee is in line with EQT’s thematic approach guided by the United Nations Sustainable Development Goals, specifically SDG 3, “Good health and well-being” and SDG 11, “Sustainable cities and communities”. 

Christine Jeandel, President of Colisee, said: “With the EQT teams, Colisee will continue its development project at the service of elderly people in line with its core values. This move is a great opportunity to continue to position Colisee as sustainable key player in the market, with social responsibility at the heart of its mission.”

Ulrich Köllensperger, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, said: “EQT Infrastructure has followed Colisee for a long time and we are deeply impressed by Christine Jeandel and her management team’s achievements in successfully creating a leading platform in the elderly care sector. Colisee constitutes a truly thematic investment in social infrastructure, a sector where EQT has a proven track record of owning and developing strong companies.”

Thomas Rajzbaum, Managing Director at EQT Partners, Investment Advisor to EQT Infrastructure and Head of EQT’s French Infrastructure Advisory Team, added: “Colisee provides essential services to society and truly makes a positive impact in the communities in which it operates. The Company’s core values and ESG approach are strongly in line with EQT’s and we look forward to continue building on Colisee’s renowned focus on high service quality and well-being for its residents.”

The acquisition of Colisee is EQT’s first investment in France following the opening of the Paris office in June 2020, and EQT Infrastructure’s second investment after the French water services management company SAUR.

The transaction is subject to the consultation process or information of the Employee Representative Bodies, as well as antitrust and potential foreign investment clearances.

With the acquisition of Colisee, EQT Infrastructure V will be 5-10 percent invested based on its target fund size. No decision has been made to date regarding the termination of the commitment period of EQT Infrastructure IV and the first fee date of EQT Infrastructure V.

WestBridge Managing Capital Over US$3 To Grab India

WestBridge Capital is one among investor that focus on India market. As of December 31, 2019, including uncalled capital. The firm invest to over US$ 3.3 billion in 120+ companies. The WestBridge team has a long-standing track record of leading investments and the team has also served on the boards of many of these companies and have actively participated in setting strategic direction of these businesses. The firm managing over US$3 billion of capital.

Manager by a highly experienced investment team, the firm focuses primarily on investments in India. WestBridge seeks to partner with some of India's most promising mid-sized companies run by outstanding entrepreneurs and management teams for the long-term, whether they are public or private.

WestBridge Capital leverages both its capital and experience to help companies succeed. A typical investment ranges from US$25 million to US$200 million, often resulting in a substantial minority equity ownership, second only to the founder in many cases.

The WestBridge Advisory Principals, Sumir Chadha and Sandeep Singhal, have a deep and rich history of investing in India over the past twenty years. WestBridge has, over the last two decades, identified and invested in multiple high-quality Indian businesses across public and private markets, and have developed deep expertise and broad networks in Indian business markets. Armed with a wealth of experience, the team is able to assist its portfolio companies, when helpful, in many areas including strategy, operations, management recruiting and fundraising.

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LGT Investorama: A crisis is not necessarily a bad thing

The stock market turmoil triggered by the coronavirus was a nerve-shredding experience for investors. Rarely has the mood on the financial markets swung so quickly between exuberance and despair as in the first quarter of this year. Never before have equity markets fallen so rapidly, plummeting by more than 20% from a record high to a bear market. Never before have there been so many days in a row when the stock market has moved up or down by several percentage points daily. 

«Never let a good crisis go to waste.» Whether or not these words were actually uttered by British statesman Winston Churchill toward the end of the Second World War is a matter of debate. But whoever it was, they were right. Because a crisis is not necessarily a bad thing. In fact, it is rather a good test of an investment portfolio’s quality. 

Experience shows that when putting together and managing an investment portfolio, it is not only the return that matters, but also whether the portfolio can survive a market crash largely unscathed. It is of little use, for example, if investors are successful on average but are forced by a market crash to liquidate their portfolios because they were perhaps overleveraged. Warren Buffet put it in a nutshell when he said: «In order to succeed, you must first survive.»

In a crisis, however, it is important not to lose your nerve in the face of uncertainty and fail to act. Instead, it might make sense to carry out a countercyclical rebalancing exercise. After a sharp correction, portfolio allocation is left in disarray. Instead of an equity allocation of 40%, for example, one suddenly has only 30% because the shares have lost value. The allocation to equities therefore has to be increased again. Disciplined rebalancing means buying at low share prices and selling at high ones. 

Market dislocations can also be used as buying opportunities. Attractive entry prices for temporarily undervalued assets could reward the few investors who provide the market with liquidity during periods of high stress, while everyone else is just thinking about selling. In order for us as LGT Capital Partners to better exploit these opportunities, we introduced a rule-based system that monitors the market valuation of various asset classes after the financial crisis in 2008. We also defined triggers based on historical data that indicate whether it would be profitable to respond to these valuation signals. During the coronavirus crisis, our rule-based system signaled a number of value-oriented investment opportunities, two of which we have implemented so far. In March, we increased our weighting in both Japanese and European equities.

These are helpful tips, but we all know that it is not always easy to implement an investment concept according to plan in the middle of a crisis. Asset prices are determined not only by fundamental data, but also by the psychology and human biases of investors. One of these psychological traps is the so-called «recency effect.» People tend to attach too much weight to the recent past when analyzing possible future outcomes. 

As a result, recent information is always considered the most relevant when assessing a situation, because it is the easiest to remember. It is therefore not surprising that investors have valued equities on the basis of the events connected with COVID-19, even though their effects are likely to be short-lived for most companies. 

The wide gap between short-term and long-term expectations tempts many investors into «market timing.» This means attempting to enter and exit the markets at short notice and at the right time. In most cases, this strategy is not successful, and the investment return may even be reduced because of wrong market timing decisions and transaction costs. 

In fact, stock market returns follow the 80/20 rule, which states that 20% of the causes usually account for 80% of the effect. A small part of the upward movements in stock markets therefore influences the majority of the result over a longer time horizon. 

Therefore, if you were away from the stock market for some of those days because of market timing, you would have missed out on a large part of the returns and been unable to benefit from the market rally. An example of this would be the strong recovery phase that began in April this year and has lasted until now, which few market participants would have expected.

So do not let emotions and biases guide you. Avoid constantly watching the news and checking your statement of assets every day. As Winston Churchill once again aptly summed it up: «keep calm and carry on.» A well-conceived and, above all, consistently pursued investment strategy allows you to do so even in difficult times. 

The LGT Investorama we can only show you depending on your country of domicile. To download this document onfrom our webpage "Market information" please go to “Domicile selection” first.

25 Most Trusted Venture Capital Investors For India

The following firms are names of investors who have a good reputation and have indeed made India a target for investing. Please try and wish your company success in getting funding to fund business growth.



Matrix Partners

Mumbai Based Matrix Partners was founded in 1977, and is committed to build long-term relationships. With capital over INR 3000 Cr., they invest across sectors in India. Invests  in the sector of Internet, Consumer internet, eCommerce, Travel, Internet, Consumer Internet, eCommerce, Travel, etc. Among its portfolio are NewsHunt, Quikr India, LimeTray, Hearing Plus, Ola (ANI Technologies Pvt. Ltd.), WeAreHolidays.


Mayfield Fund

One of the oldest Venture Capital Firms focusing on early-stage to growth-stage investments in information technology companies, in particular on enterprise software, Internet consumer & media services, and communications. Investment Structure:  It invests between $500,000 to $10 Mn in the sector of Consumer Services, Infrastructure Ancillaries, Healthcare Services, Manufacturing Opportunities. Among its investee are Gigya, Lantern, IndiaProperty.


Norwest Venture

NVP is an India-centric multi-stage investment firm that has partnered with entrepreneurs to build great businesses for more than 50 years. It invests $1Mn to $30 Mn in early stage and $15 Mn-$100 Mn in growth equity companies depending on the growth of the company. Its investee are Indusind Bank, Komli, Fashionandyou.com.


Ojas Venture

India based Venture Capital Ojas Venture Partners believes that for young startups to become successful, it is imperative for them to have the guidance of experienced professionals with in depth understanding of the marketplace. Typically, make an initial investment of $ 250,000 to $ 1.5 Mn and follow that in subsequent rounds up to a maximum of US $ 3 Mn per company over the life of the company. They focus to invest in Mobile Technology and Applications, telecom, wireless technologies, enterprise software, SaaS, Web Applications/Services, Consumer Internet. Among its investment are Tyfone, Vizury, Mango Techno, RiverSilica, CBazaar.


Seedfund

Invest in Internet, Media, Mobile, Telecommunications, Retail, Technology, and Consumer, This venture capital fund recognized the need for an early stage investment ecosystem in India and hence, focuses on investing in Indian startups. The firm seeks to invest between INR 1 Cr. ($0.19 Mn) and INR 25 Cr. ($4.67 Mn) in each portfolio company. Among its investee are Chumbak, Browntape, Heckyl, AxisRooms, Voonik.com.


SIDBI Venture

It focuses on life sciences, clean technology, retailing, light engineering, food processing, information technology, infrastructure related services, healthcare, logistics and distribution, water and sanitation, agriculture, and education sectors. It invests between INR 5 Cr. to 25 Cr. Among its investee are Printland, CircuitSutra Technologies, and Skelta Software


Tracxn Labs

Tracxn Labs is a California-based company that offers a startup research platform which tracks startups across many areas. It is a $13.5M venture capital firm. Founded in 2013, the venture capital tracks startups working in over 230 sectors which include enterprise infrastructure, technology, applications, consumer, mobile, etc. It invest $50K-$60K to build an MVP in the sector of Computer Software. Among its investment are Indifi, Tavaga, Fabhotels, and SlicePay


SoftBank Capital

SoftBank Capital is a multi-stage venture capital fund that partners with entrepreneurs building disruptive enduring businesses. The venture capital manages $600 Mn across three funds and invests across a company’s lifecycle, from early to growth stages. It is headquartered in New York, NY, United States. It was founded in 1995. They prefer to invest in Biotechnology, Mobile, SaaS. Among its investee are Alibaba, Ola, Flipkart, and  Snapdeal.


Axilor Ventures

Axilor Ventures helps founders improve their success through its programs and a venture funding model. Axilor has invested in 38 startups,17 out of which are Seed and 21 Pre Seed investments. Through its programs which include Accelerator, Scale-up and Early Stage Funding, Axilor aims to support early stage entrepreneurs and improve their odds of success. Startups Funded include Survaider, Appsfly.io, Pocket Aces, Pipecandy, Petoo


SAIF Partners

The firm invest in India since 2001. SAIF Partners specializes in private equity and venture capital across Asia, invests between $10 Mn and $100 Mn in one or more rounds of financing with investments between $200,000 to $500,000 in early stage companies and between $30 Mn and $35 Mn in more mature unlisted ventures. The firm prefer to invest in IT sector, ITes, Industrials, Financial Services, Internet, Consumer Product, Mobile sector. Among its investee are Justdial.com, Paytm, Network18, HomeShop18, Book My Show.


Ascent Capital

Ascent Capital, an India-focused independent private equity firm, is among the most experienced teams on ground with over 150+ years of collective experience in Indian capital markets. The firm makes investments ranging from $10 Mn to $30 Mn. The firm OK to invest in Technology, Ecommerce, Healthcare, Financial Services, Consumer Brands, Infrastructure.


Axon Partners

The firm prefers to invest in technology focused companies in countries like Latam, Spain and India. Invests from 100,000K to $25 Mn in growth phases, from seed capital to international expansion, prefer to invest in Games, Software, Security, Biotechnology, Telecommunications. Its investee are iYogi, ByHours.com, Hot Hotels.


Bain Capital

Bain Capital professionals in aggregate is the largest investor in every fund raised. Bain Capital, along with management teams, provides the strategic and analytic resources needed to build and grow great companies. Investment Structure: Invests between $5 Mn and $1 Bn in companies in wide range of Industries. Industries: Consumer, Retail and Dining, Financial and business Services, Healthcare, Industrial and Energy, Technology, Media and Telecom. The firm has invest in ASIMCO, BMC Software, Biglobe, Atento, BPL


Basil Partners

It’s a Venture Capital fund involved in Early Stage Venture Investments focusing on investing in India besides investing in North America, Europe and Asian Countries.

Investment Structure: Investment is done in the range between $1 million and $ 5 million with minimum revenue of $5 million in the IT sector. Among its investee are Endeavour Software Technologies and Karmic LifeSciences


Battery Ventures

Battery Ventures is based in Boston, Silicon Valley and invests in technology driven companies. With over 30 years of experience, this VC fund has deep pockets. Investment Structure: They invest in all stages of a company’s life, are flexible in the amount of investment, and are creative when it comes to syndicating, finding alternate sources of money, and designing financing to best match businesses. Industries: e-Commerce and Retail Digital Media, Industrial Technologies, Infrastructure, Software and Services. The firm has invest in HackerRank and AppDynamics.


Bessemer Venture

With great experience in investing, this 1911 founded company operates on a global scale with offices located in Israel, India and both coasts in the US. Investment Structure: They invest in the range of $75,000 to $66 Mn. Industries focus: Cyber Security, Financial Services, Mobile, Cleantech Cloud Computing. Its investee are Snapdeal and OnMobile.

Catamaran Investment

Founded in 2010 is a private investment office headquartered in Bangalore, India and London, UK. It’s a INR 600 Cr. multi-stage, multi-sector fund. Among its investee is Yebhi.


Forum Synergies

The company’s vision and mission is to be a unique, ethical private equity fund management model in India that provides investors with a best-in-class private equity model. Investment Structure: Forum Synergies invests between between $2 – $10 Mn in firms with revenues between $3 – $50 Mn. Industries: Healthcare, Automotive, Electronic Hardware, Electrical Equipment, Chemical Engineering, Medical Devices, Pharmaceuticals, Biotechnology, IT. Among its investee are Zomato, Ola, Quikr, TaxiForSure, Commonfloor, Freecharge, and Housing.


Sequoia Capital

Sequoia Capital India specializes in investments in startup seed, early, mid, late, expansion, public and growth stage companies. The firm invest between $100,000 and $1 Mn in seed stage, between $1 Mn and $10 Mn in early stage and between $10 Mn and $100 Mn in growth stage companies. Industries favorites are  Consumer, Energy, Financial, Healthcare, Outsourcing, Technology. The startups funded are including JustDial, Knowlarity, Practo, iYogi, bankbazaar.com


Nexus Venture Partners

Nexus Venture Partners is a venture capital firm investing in early stage and growth stage startups across sectors in India and US. The firm prefer to invest in sector of Mobile, Data Security, Big Data analytics, Infrastructure, Cloud, Storage, Internet, Rural Sector, Outsourced Services, Agribusiness, Energy, Media, Consumer and Business services, Technology. Investment range between $0.5 Mn and $10 Mn in early growth stage companies. Also, makes investments upto $0.5 Mn in their seed program. Including among its investment portfolios are Snapdeal, Housing, Komli, ScaleArc, PubMatic, Delhivery.


Inventus Capital Partners

With the sole goal of making new entrepreneurs successful, Inventus is a venture capital fund managed by entrepreneurs and industry-operating veterans. Investment Structure: The firm does not invest in capital intensive companies. It typically leads the first venture round with $1 Mn to $2 Mn and as the businesses grow, it invests from $0.25 Mn up to $10 Mn. Industries focus: Consumer, Hotels, Restaurants and Leisure, Media, Internet and Catalog Retail, Healthcare, Information Technology, Hardware and Equipment, Telecommunications etc. Including among its investment portfolios are Poshmark, Savaari, Farfaria, Policy Bazaar.com, Insta Health Solutions, CBazaar.

Helion Venture Partners

Investing in technology-powered and consumer service businesses, Helion Ventures Partners is a $605 Mn Indian-focused, an early to mid-stage venture fund participating in future rounds of financing in syndication with other venture partners. Invests between $2 Mn to $10 Mn in each company with less than $10 Mn in revenues. The firm focus on sector of Outsourcing, Mobile, Internet, Retail Services, Healthcare, Education and Financial Services. Its investee are Yepme, MakemyTrip, NetAmbit, Komli, TAXI For Sure, PubMatic.


Accel Partners

Accel Partners founded in 1983 has global presence in Palo Alto, London , New York, China and India. Typical multi-stage investments in internet technology companies are made by Accel partners. The firm cover industries: Internet and Consumer Services, Infrastructure, Cloud -Enabled Services, Mobile and Software. Among startups funded are  Flipkart, BabyOye, Freshdesk, Book My Show, Zansaar, Probe, Myntra, CommonFloor.


Blume Ventures

Blume Venture Advisor funds invest in early-stage seed, startups, pre-series A, series B and late stage investments. Blume backs startups with both funding as well as active mentoring and support. The firm provides seed funding investments between $0.05 Mn – $0.3 Mn in seed stage. Also, provides follow-on investments to portfolio companies ranging from $.5Mn to $1.5Mn. Their preference sector are Mobile Applications, Telecommunications Equipment, Data Infrastructure, Internet and Software Sectors, Consumer Internet, Media, Research and Development. Among startups funded: Carbon Clean Solutions, EKI Communications, Audio Compass, Exotel, Printo.


IDG Ventures

Having a global network of technology venture funds with more than $4 billion, IDG Ventures India is a leading India-focused technology venture capital fund specializing in startups, early stage, growth stage and expansion stage companies. The firm invests between $1 Mn and $10 Mn, focus on sector of Digital Consumer – Internet, Mobile, Media and Technology Enabled Consumer Services, Enterprise Software – SaaS, Software Products and Enterprise services, Engineering – Medical Devices, Clean-tech and IP-led Businesses.  Including among its investment portfolios are UNBXD, Yatra.com, Myntra.com. FirstCry, Zivame, iProf,  Ozone Media.


Fidelity Growth Partners

Fidelity Growth Partners India is the private equity arm of Fidelity International Limited focused on investing in India. Since 2008, FGPI has made several investments across sectors including Healthcare and Life Sciences, Technology, Consumer and Manufacturing. Typically, FGPI invests between $10 Mn and $50 Mn for a minority stake in the company in the sector of Healthcare and Life Sciences, Technology, Consumer and Manufacturing. Including among its investment portfolios are Netmagic and Yebhi.


Naspers

Naspers is a leading multinational media group, incorporated in 1915 as a public limited liability company and was listed on the Johannesburg Stock Exchange (JSE) in September 1994. The group’s principal operations are in internet platforms (focusing on commerce, communities, content, communication and games), pay-television and the provision of related technologies and print media (including publishing, distribution and printing). The group’s most significant operations are located in South Africa and elsewhere in Africa, China, Central and Eastern Europe, India, Brazil, Russia, Thailand and the Netherlands. The firm invest in Ecommerce, Print Media, Pay Television, including in OLX and Flipkart


Steadview Capital

Steadview is a leading alternative asset manager based in Hong Kong. The firm makes concentrated long-term investments across multiple industries. Investment Structure: Early Stage Venture and Later Stage Venture Investments Industries. Among its investee are Olacabs, Flipkart, Saavn, Urban Ladder



Jungle Ventures

Jungle Ventures is a Singapore based, entrepreneur backed venture firm that funds and helps startups scale across Asia Pacific. It invests in global startups that are solving problems relevant to Asia Pacific markets. It currently has investments in US, Singapore, India, Australia, Thailand, Malaysia, and the Philippines. The invest in Seed and Early Stage Investments in the sector of Ecommerce, Digital Media, Saas, Fintech, Big Data, Analytics, Enterprise. Among its investee are Zipdial, Ekstop, Pokkt, Milaap


Qualcomm Ventures

Qualcomm Ventures is the investment arm of Qualcomm Inc. (NASDAQ: QCOM), a Fortune 500 company with operations across the globe. The firm invest in the area of Business Software, Cloud/Enterprise, Consumer Software, Hardware, Health Care, Infrastructure, Semi/Components. Among its investee are Appsdaily, Capillary, Deck, Portea, Housing


Warburg Pincus


Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has more than $37 Bn in assets under management. Its active portfolio of more than 120 companies is highly diversified by stage, sector and geography. It emphasizes growth investing and has successfully built companies at all stages, from conceiving and creating venture capital opportunities, to providing capital to meet the needs of existing businesses, to investing in later-stage buyout transactions and special situations with unique characteristics. The firm like to invest in Consumer, Industrial and Services, Energy, Financial Services, Healthcare, Real Estate, Tech, Media, Telecommunications like Lemon Tree, Biba, and Quikr.


Canaan Partners

Global venture capital firm investing in people with visionary ideas, Canaan Partners specializes in all stages of development, seed financings, start-ups, growth and early stage investments, typically Series A and B financings. The firm typically invests between $0.05 Mn to $80 Mn in its portfolio company. It prefers to exit its investments within 7 to 10 years, in the sector of Technology- Advertising & Marketing, Big Data/Cloud, Consumer, Enterprise/SaaS, FinTech, Hardware, Healthcare – Biopharma, digital Health & MedTech. Among its investee are Naaptol, Bharat Matrimony, iYogi, Happiest minds, mCARBON, CarTrade, Surewaves.


Fulcrum Venture

Founded in 2000, Fulcrum is a private equity investor which focuses on the SME business opportunities.They prefer to invest in like-minded entrepreneurs with solid principles and objectives. The firm seeks to invest between INR 5 crores – INR 15 crores in the sector of Education, Financial Services, FMCG, Healthcare, and Niche Retail. Its investee are Shield Healthcare Private Limited , SwaaS Systems, Congruent Solutions Pvt Ltd.


General Atlantic


980, is a leading global growth equity firm providing capital and strategic support for growing companies. It does Early Stage Venture, Later Stage Venture and Private Equity Investments. They invests between $75 Mn and $400 M per deal, prefer to do in ECommerce, Software, Fashion, Cloud Computing, Curated Web. Among its investee are Vox Media, Klarna, Citiustech, and Squarespace.


India Quotient

Launched in 2012, India Quotient is an early stage fund with a corpus of INR 30 Cr. They invest in Seed Investments between 100k – 500k, focus on Education, Food and Travel, Mobile, Fashion, Lifestyle, Consumer Finance. Among its investee are Grabhouse, FRSH, Roposo, Prettysecrets, DogSpot.


IvyCap Ventures


The Firm does Early Stage Venture Investments and invests between $0.3 Mn and $7 Mn. Guided by an entrepreneur-centric investment approach, IvyCap focuses on high-quality professional entrepreneurs from premier education institutions of the country. It focus on Healthcare, Education, Technology, Commerce. Among its investee are Aujas Networks, Leixir, eShakti.com, Vinculum Solutions, and FieldEZ.


Kae Capital

Kae Capital invests in those companies which bring  out innovative solutions for existing gaps in the markets.They believe in identifying and building large companies even from a concept. Investment is made between $0.05 – $2.5 Mn and typically they invest between $0.2 – $1 Mn in the first round, in the sector of Mobile, Ecommerce, Education, Healthcare, Consumer, Internet. Among its investee are SysCloud, ShepHertz, FortunePlay, Nuiku, Shopsense, Airwoot.


Kalaari Capital


With a strong advisory team in Bangalore, Kalaari is a $160 Mn venture capital fund investing in early-stage technology-oriented companies in India. They seek companies that are capable of capturing new markets, providing innovative solutions and creating new wealth for India and beyond. Investment Structure:The firm invests $1Mn to $5Mn in technology savvy companies and technology-enabled services for India and the global markets. Among its investee are Mettl, UrbanLadder, Snapdeal, and Zivame.


Lightbox Management

India based Lightbox Management Ltd with an investment horizon of seven to eight years is a new $100 Mn tech fund focussed on early stage consumer technology businesses. Invests between $3 Mn and $5 Mn in the consumer technology space with a focus on education technology. Among its investee are Embibe, Cleartrip, and GreenDust.


Lightspeed Venture Partners

Founded in 2000, Lightspeed Venture Partners investment company engages in consumer, enterprise, technology, and cleantech markets. Investment range per deal $1 to $25 Mn in Enterprise Software, Software, and Mobile. Among its investee are Eyeview, SimplyTapp, Luxe Valet, Vee, Blockchain, FiveStars, and Gainsight.

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Global M&A value drop

The first six months of 2020 has registered a massive drop in M&A activity. The total value of deals announced in H1—both completed and pending—was US$901.7 billion, 53% below the same period the year before and the lowest half-yearly total since H1 2010. Volume, meanwhile, fell 32% year on year, to 6,943 deals, the lowest half-yearly volume total since H1 2013.

Looking only at the second quarter, when the extent of the pandemic became clearer around the world, the collapse in dealmaking was even starker. Total M&A value came to only US$309.2 billion—a 69% drop on the same period the year before and the lowest quarterly total on Mergermarket record (since 2006). Volume figures fared somewhat better, falling 49% year on year to 2,634 deals, the lowest quarterly total since Q3 2009.

Megadeal activity tumbles

Much of the drop in deal value can be attributed to a collapse in dealmaking at the top end of the market, especially in the second quarter. There were only nine megadeals (deals worth US$5 billion or more) in Q2, coming to a total of US$78.2 billion, compared to 25 such deals totaling US$461.1 billion over the same period the year before. Across the first half as a whole, there were 31 megadeals, 39% below H1 2019. Total megadeal value in H1 came to US$296.9 billion, a 69% year-on-year drop. 

By far the largest transaction of the year is the proposed merger between the world’s second- and third-largest insurance brokers, Aon and Willis Towers Watson, in a US$35.6 billion (net debt included) deal announced in early March. If approved by shareholders and regulators, the combined entity would overtake Marsh & McLennan as the world’s largest insurance brokerage.

The largest deal of Q2—and the second-largest deal of H1—was a US$20.3 billion asset swap between Abu Dhabi National Energy Company (TAQA) and Abu Dhabi Power Corporation (ADPower).

Neither the Aon deal nor the TAQA deal has completed, which is not unusual for large transactions. But given the high levels of uncertainty around the continuing spread of COVID-19 in many regions, a greater number of deals than normal could fall through in the coming months.

In fact, one of the largest announced transactions of the year so far, Xerox’s unsolicited bid for HP Inc, which would have valued HP at an enterprise value of US$35.5 billion, was pulled a few weeks after announcement. Xerox, which announced its takeover offer at the start of March, cited “the current global health crisis and resulting macroeconomic and market turmoil caused by COVID-19” in its decision to abandon the deal at the end of that month.

TMT and financial services top sectors

As a significant proportion of the world’s population went into lockdown, people turned to digital solutions for work, education and entertainment—which explains why the technology, media and telecoms (TMT) sector has been among the most resilient for M&A in 2020.

There was a total of 1,553 transactions in the TMT sector in H1, worth US$201.2 billion. Although this represents a 25% and 31% year-on-year decline in volume and value respectively, it is still the highest total volume and value of any sector over this period. The TMT sector fared relatively well even in the second quarter—while volume declined by 41% and value by 50% compared to the year before (to 633 transactions worth US$97.1 billion), a number of significant deals were announced in May and June. 

The largest TMT transaction of H1 was announced in the second quarter—Spain’s Telefonica and US-based Liberty Global’s merger of their UK mobile telecoms assets, O2 and Virgin Mobile—in a deal worth US$12.4 billion. The deal was announced in early May, after years of speculation and discussion, and is pending regulatory approval. 

The financial services sector came in second in H1 by total value, boosted by the US$35.6 billion Aon/Willis Towers Watson deal. A total value of US$159 billion was recorded in financial services dealmaking in H1, across 1,230 transactions, 51% and 33% below H1 2019, respectively.

Regional variation 

Although all regions of the world saw M&A decline across H1, some regions fared better than others. Latin America and the Caribbean recorded the sharpest year-on-year drop in M&A of any region in Q2. Deal value crashed by 95% while volume fell 61% compared to Q2 2019—to US$1.1 billion across 64 transactions—as the COVID-19 crisis hit the region especially hard. 

In contrast, Asia saw the least steep drop in M&A in Q2. There were 830 deals worth US$114.6 billion, a 19% and 11% drop year on year, respectively, thanks in part to a number of large-ticket TMT transactions in China, including the US$7.6 billion take-private offer for 58.com, a New York-listed Chinese online classifieds portal. 

With increasing tensions between the US and China, such take-privates of US-listed Chinese firms may grow more popular, especially if such firms continue to trade at depressed valuations. 

Uncertain future

In its latest World Economic Outlook (WEO) forecast, released in June, the International Monetary Fund is projecting that the global economy will contract by 4.9% this year, 1.9 percentage points more than in its April update.

Although many advanced economies have seen their rates of new COVID-19 cases drop, the pandemic is still accelerating in some countries. Latin America, for example, has become the new center of the outbreak. Meanwhile, in some regions of the US, new infections have risen after social distancing measures were eased. 

With government support programs designed to soften the blow of the crisis ending in many jurisdictions in H2 and the always-looming possibility of a second wave of infections in countries that have managed to get the pandemic under control, much remains uncertain for the global macroeconomic landscape. 

Still, there are reasons to hope that the worst is over for global M&A. Stock markets have recovered strongly—although these gains may be out of touch with underlying economic data—and M&A data in Q2 shows a month-by-month increase in both volume and value. June 2020 recorded 912 deals globally, worth US$131.4 billion. Although this was significantly below the 1,755 transactions in June of the previous year totaling US$446.2 billion in value, it represents a 6% rise in volume and a 43% increase in value on May, which itself registered a small rise in M&A compared to April.