Wednesday, July 25, 2007

General Atlantic takes minority stake in IBS software for $60 mn

Private equity firm General Atlantic has paid $60 million for a minority stake in India's IBS Software Services, reported Reuters.

IBS, which provides services for the travel, transport and logistics industries, has two development centres in India.

Edelweiss Capital was the financial adviser to IBS.

Related Posts:
NYSE, Goldman Sachs, General Atlantic, SAIF to buy 26% in NSE

TechTribe gets funding from 3 PE funds including Canaan Partners

Canaan Partners, a $2.4 billion global venture capital firm, today announced it has led a joint investment with The Entrepreneur's Funds and Miven Venture Partners in techTribe, India's leading career networking portal as reported by PRWeb.

techTribe is a software company that enables current and future Indian technology professionals to enhance their careers through social networking. The investment will be used to expand techTribe's sales and marketing infrastructure in India and to drive new revenue growth. Alok Mittal, Canaan's managing director in India, will be named to the techTribe board of directors.

The Indian career networking market for middle- and senior-level executives is worth $400 million, according to techTribe, which has operations in San Francisco and New Delhi.

Canaan Partners is a leading global venture capital firm specializing in early-stage information technology and life sciences investments. Founded in 1987, Canaan Partners has $2.4 billion capital under management and has invested in more than 240 companies, completed 63 mergers and acquisitions, and brought over 50 companies public.

The Entrepreneurs' Fund III (TEF3) is a Silicon Valley based, early stage venture fund focused on Software and Healthcare startups. Miven Venture Partners, founded in 2005, is a multi-stage venture capital firm with a primary focus on investing in consumer related technology companies.

Related Articles:
Canaan Partners to invest in 3 companies; deals to close by year-end

Tuesday, July 24, 2007

Angel Broking is attracting PE interest

The domestic equity broking scene has been heating up recently. With the interest that global investors are showing in the Indian markets, the broking business is getting very attractive for a lot of players.

After names like Motilal Oswal, Edelweiss, India Infoline, it is now Angel Broking which is in talks to offer 20% of its stake to PE investors like Lehman Brothers, Warbug Pincus and the Carlyle group. Angel intends to raise Rs.200 crs through this sale, valuing it at Rs.1000 crs. NM Rothschild has been given the mandate to look for a suitable partner and the deal is expected to be closed by September end as reported by the Economic Times.

The funds will be used to finance Angel’s proposed expansion of branches and to launch new products such as loan against shares and margin funding, said the paper.