18 October 2023
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New GPCA Report: Fintech in India

#GPCAResearch #Asia

GPCA has released its latest research report, “Fintech in India: The Evolution of the Investment Landscape”. India has become a vibrant center of fintech innovation on the back of growing digital adoption, demographic tailwinds and government initiatives.

This report delves into the latest fintech developments in India and highlights the evolution of major private capital investment themes based on GPCA’s proprietary dataset and discussions with GPCA Members.

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GPCA Investors Meeting in London
9 November 2023 | London

#GPCAEvents

GPCA Investors Meeting Banner 2023(1080x241)

8 November: GPCA Members Reception in London

GPCA Members, global institutional investors and other invited guests will convene for an evening of networking and cocktails from 6:30-9:30 pm at the Hotel Café Royal. Co-hosted with Debevoise & Plimpton.

8 November: Co-Investments Legal Session

In this interactive session on Co-Investment Trends and Best Practices In Global Markets, partners from Debevoise & Plimpton will examine the evolving state of co-investments and its impact on fund managers active in GPCA’s markets. This session will be held from 5:00-6:00 pm at the Hotel Café Royal.

9 November: GPCA Investors Meeting

The annual GPCA Investors Meeting will be held on 9 November 2023 at The Bloomsbury in London and will convene a highly curated gathering of GPCA Member investors and global LPs, including Mazin Alshanbari, Investment Office of Jada/PIF; John Merrill, Managing Director of GroveStreet; Craig Thorburn, Director, Office of CIO of Future Fund; and Benoit Valentin, Global Head, Private Equity Fund Investments of Temasek. Other LPs attending include BAE Systems, Canadian Medical Protective Association, Railpen, CPP Investments, Nest - National Employment Savings Trust, Tesco Pension Fund and representatives from GPCA’s DFI Council.

For questions, please contact Megan Smith, Director of Programs, at msmith@gpcapital.org.

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INVESTMENTS

► Reliance Retail Ventures, an India-based chain of retail stores, raised INR49.67b (~USD598m) from the Abu Dhabi Investment Authority at a reported USD100.8b valuation. #Asia

► Adenia acquired a majority stake in Enfin, a South Africa-based solar financing solutions provider. #Africa

► Morocco-based financial services platform CASHPLUS raised EUR57m (~USD60.1m) in equity, including EUR30m from Mediterrania Capital, EUR17m from FMO and EUR10m from IFC. #Africa

► Moonshot Al, a China-based AI-generated content platform, raised CNY2b (~USD274.2m) from Capital Today and Monolith Management, as well as follow-on from Sequoia China. #Asia

► Community Investment Management provided a USD100m debt facility to Zolve, an India-based cross-border neobank providing financial services to immigrants worldwide. #Asia

► Niva Bupa, an India-based health insurance company, raised INR8b (~USD96.2m) from Motilal Oswal Alternate Investment Advisors, Temasek, Paragon Partners and others. #Asia

► Kaitai Capital led a CNY600m (~USD82.3m) Series D for Atom Bioscience & Pharmaceutical, a China-based developer of small molecule drugs for inflammatory and metabolic diseases, with participation from Fortune Venture Capital, Huajin Capital, NNFE and Unifortune. #Asia

► Legend Capital and Oriza Fund of Funds led a CNY600m (~USD81m) Series D for Leadrive, a China-based manufacturer of semiconductor power modules and motor control units used in electric vehicles, with participation from C Capital, Duncheng Investment, Huatai Baoli Investment Management, Royal Stars Venture Capital and Xinshang Capital. #Asia

► Ribbit Capital led a USD25m Series A+ for Stitch, a South Africa-based payments platform for enterprise clients, with follow-on from CRE Ventures, PayPal Ventures and the Raba Partnership. #Africa

► Convivialite Ventures led a USD4.6m pre-Series A for Dharma, a UAE-based travel management platform, with participation from FJ Labs, Equinox, Stephen Ross (Soul Cycle) and others. #MiddleEast

► Middle East Venture Partners led a USD3.8m seed round for Zest Equity, a UAE-based private market dealings platform, with participation from the Dubai Future District Fund and DASH Ventures. #MiddleEast

FUNDRAISING

► Sony Ventures launched a USD10m innovation fund focusing on early-stage startups in gaming, music, film and content distribution in Africa. #Africa