India continues to be an increasingly attractive prospect for venture capitalists. The first quarter saw an increase in investment, while the number of successful exits offers further cause for optimism.
San Francisco-based buyout shop Hellman & Friedman has sold digital marketing firm DoubleClick to internet behemoth Google for $3.1 billion – two years after having taken the firm private for $1.1 billion.
Belgian investor GIMV has increased its investment in a clean technology fund run by Emerald Technology Ventures, as it looks to increase its exposure to the cleantech sector.
TCW has joined forces with Swiss RE and Conning & Company to raise a private equity fund for clean energy investment. The fund will also receive backing from the United Nations.
The German Aktiv Property Fund is the second vehicle launched in the past six months by quoted UK and European property fund Teesland iOG, which launched its Nordic Aktiv fund last November.
3i, a listed European private equity group, has partnered with the India Infrastructure Finance Company for future infrastructure deals in the country.
As Texas legislators consider giving the state’s Public Utility Commission power to block the proposed $45 billion buyout of TXU, KKR and TPG have promised to terminate an existing labour subcontracting agreement at the utility company, which has in turn put the electrical workers union in their corner.
Aureos, an emerging markets fund manager, will expand its Latin American operations with the launch of a new fund to invest in the region.
With fundraising down and exits up in the first quarter of 2007, US venture capital is continuing on the tail end of its current cycle. But as the NVCA’s Mark Heesen points out, the quarter’s results shows a subtle change in the psychology of the market. Dave Keating reports.
SAIF Partners, a private equity firm focused on Greater China, has raised $1.1 billion for its second fund as an independent entity. The fund will also invest in Korea and India.
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