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IDFC Raising US$500 Mln Fund Of Private-Equity Fund

IDFC Capital (Singapore) Pte. Ltd., the newly formed fund of private-equity funds unit of India's Infrastructure Development Finance Co, is raising a US$500 million Asia-focused fund, a person familiar with the situation said Thursday. The fund will be focused on mid-market, growth-focused private-equity funds in Asian emerging markets, particularly China and India, the person said. There will also be some allocation to other Asian emerging markets and Southeast Asia as well as an allocation to other emerging markets such as Sub-Saharan Africa. IDFC is expected to commit US$50 million to the fund, the person said. The fund's first closing is expected sometime later this year. […]

SRK in talks to sell stake in KR?

After a series of forgettable outings despite big hype in the second edition of the Indian Premier League, is Bollywood star Shah Rukh Khan selling his Knight Riders franchise? According to speculation, SRK is in talks with Subroto Roy’s Sahara Group and the Anil Ambani Group for selling around 20% stake in the franchise. However, the biggest hurdle to any deal could be the high valuation of the team, industry sources said. Shah Rukh’s company bought the Kolkata franchise last year for around Rs 300 crore and he would expect the brand to be valued at least around Rs 500 crore. Unfortunately, that expectation appears too high in the current economic climate. […]

Sequoia, Silicon Valley buy stake in web ad co

Venture capital firm Sequoia Capital India and Silicon Valley Bank have together picked up a minority stake in web-based advertising company Ideacts Innovations for an undisclosed amount. For Sequoia, this is the second round of investment in the Mumbai-based firm. In 2007, it had picked up a minority stake in the company for $5 million. Although the exact quantum of this year’s investment could not be ascertained, it is believed to be $5-9 million, said a person with direct knowledge of the development. When contacted by ET, Ideacts Innovations co-founder & CEO Rudrajeet Desai confirmed the second round of funding and said: “Sequoia is our first investor who funded us in 2007. […]