City Venture Financial News

Venture capital firm Celesta Capital plans to add another 15-25 entities to its India portfolio over the next 3-5 years, even as startups in India have been caught in a funding winter. “There is no slowing down or pulling back,” managing partner Arun Kumar told ET.

DeFi platform Elixir has secured $7.5 million in a Series A investment fund led by Hack Venture Capital, bringing the protocol’s valuation to $100 million. 

There was also a 25.9% decline in the number of deals, with only 1,005 deals announced over the period.

From crystal gazing the current government and understanding the fate of those in the states headed for polls to what the future holds for the newly formed opposition alliance and understanding how Indians across different sections cast their ballot, the C-suite executives of India Inc desire to know it all, pollsters and poll pandits said.

The VCTs are Maven Income and Growth VCT, Maven Income and Growth VCT 3, Maven Income and Growth VCT 4 and Maven Income and Growth VCT

Investment bankers laughed their way to the bank with 41 per cent on-year more fee income at USD 967.5 million during the first nine months of 2023, despite a massive fall in deals, according to an industry analysis. This is the highest fee collection by deal makers since records began in 2000. According to Refinitiv, which is an LSEG (London Stock Exchange Group) business, completed M&A advisory fee jumped 34 per cent year-on-year during January-September 2023 and totalled USD 362 million, while ECM (equity capital market) underwriting fees rose by a steeper 38 per cent to reach USD 194.3 million.

Public Affairs, Public Policy and Advocacy have witnessed a gradual metamorphosis in the last few years. The corporate function which played its tiny part as a sapling in the corporate landscape has now grown into a sturdy tree branching into multitude dimensions. Today it not only holds a proud place in boardrooms but has also become an interface between Business, Governments & for enhancing external stakeholder engagement. With the spotlight on Public Policy and Advocacy, the last decade witnessed a steady evolution of this function. The spectrum of Public Affairs function has widened, encouraging inclusivity in decision making and embracing of diverse stakeholders. This has established a more transparent engagement of Industry and Government with focus on developing a more conducive business platform & building trust. The scope of public policy professionals has grown significantly over the past decade not only in India but across the globe. Public Affairs Forum of India — Pafi established on the four ethos — aligning with the Government, building trust, network and deepening a talent pool, has always been an advocate to this policy cause.

Swan Energy, the winning bidder of bankrupt Reliance Naval and Engineering, has deposited Rs 50 crore with lenders and sought a further extension to pay the entire first instalment, initially due in March 2023, said people with knowledge of the matter. To date, it has paid about Rs 100 crore of the first instalment, which is Rs 292 crore. It has to make payment in six instalments and the second instalment of Rs 313 crore is due in December this year.

Refer to Figure 1. This rapid growth in D2C and ecommerce is set against a backdrop of declining Venture Capital (VC) funding. Encouraged by the online surge caused during Covid-19, VC funding increased in the years 2019 all the way to 2021, and reached an all-time high at H2 CY2021.

Sam Bankman-Fried was “very resistant” to having investors join the board of directors at FTX, claims Matthew Huang, the co-founder and managing partner of crypto investment firm Paradigm.

KuCoin ($KCS) has witnessed an alarming crypto outflow of more than $116 million as the platform's proof of reserve declined in value. 

Startup funding in the crypto industry has fallen back to Q4 2020 levels amid the ongoing cryptocurrency bear market.

Hong Kong-based crypto-focused venture capital firm CMCC Global has raised $100 million aimed at supporting Asian blockchain startups. 

Venture capital has been a key driver for myriad startups in the blockchain space. Founders know how competitive it can be to secure valuable VC funding that can keep the lights on and employees paid during the critical first days of a new project.

abrdn said the sale underlines its commitment to exit non-core businesses that 'no longer align to its overall offering or product strategy'.

Venture capital interest in web3 startups continues to wane as data from Crunchbase reveals a seventh consecutive quarter of declining investments in the sector.

Globalpayment giant Visa is raising its bet on artificial intelligence (AI) in commerce and settlements by setting up a new fund to invest in generative AI ventures.

SBO said the decision to form the committee 'recognises the importance of the board's oversight role on valuations and the need for shareholders to have confidence in the outcomes'.

Godrej Group, the ₹1.76-lakh-crore conglomerate that began its industrial journey five decades before Independence selling locks to the citizens of a then crime-prone Bombay, is reportedly in advanced stages of crucial negotiations to conclude the formal division of its diverse businesses, top industry executives familiar with the matter told ET. The two factions of the Godrej family — Godrej Industries & Associates led by Adi Godrej and his brother Nadir, and Godrej & Boyce Manufacturing Company (G&B) involving cousins Jamshyd Godrej and Smitha Godrej Crishna — are likely to finalise soon the formal split of business verticals as diverse as engineering, appliances, security solutions, agricultural products, real estate, and consumer products, said the officials cited above. The family council is ironing out some important specifics involving two critical points — usage of the Godrej brand name after the split, including possible royalty payments, and land valuations currently held by G&B.