Ecosystem Weekly | 24th May '20
Reliance’s Jio Platforms raises $1.5B from private equity giant KKRThe investment follows significant fund infusions in Jio Platforms from Facebook ($5.7 Bn), Silver Lake Partners ($747 Mn), Vista Equity Partners ($1.5 Bn), and General Atlantic ($870 Mn)
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Abu Dhabi’s ADQ announces new $300m VC fund to invest in Indian startups
ADQ has announced a new $300 Mn venture capital fund, Alpha Wave Incubation. The AWI Fund will be investing in early-stage startups across SEA and India, and help them set up base in Abu Dhabi’s Masdar City.
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Startup News Snippets
M&A News
Market Pulse
- Walmart-owned Flipkart has received a cash infusion of $89 Mn from Singapore-based Flipkart Marketplace and Flipkart
- Mumbai-based educational technology startup WhiteHat Jr will raise $50 Mn from the sovereign wealth fund of Singapore, Renuka Ramnath-led home-grown private equity firm Multiples Alternate Asset Management and marquee venture capital firm Sequoia Capital
- Singapore-based startup specializing in next-generation networking and wireless technology Ray Pte has raised $263K from Pune-based Quick Heal Technologies
- Fanbuff Esports India which operates e-sports community engagement platform Fanclash will raise $460K from IE Venture Fund I
- Technology-focussed Venture Capital fund Iron Pillar has raised a $45 Mn top-up fund. The fund will provide Iron Pillar additional capital to back specific Fund I portfolio companies
- International Finance Corporation will invest $20 Mn in Endiya Partners Fund and Mumbai-based extended warranty and after-sales services provider for appliances and consumer electronics Onsitego
- Bharti Airtel has acquired a 10% stake in Gurugram-based conversational artificial intelligence technologies startup Voicezen India for an undisclosed amount
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