Sebi’s Tough Moves, Electra’s India Bet, Startup Funding
Round II for View Group alumni: Anybody remember The View Group? Perhaps the name Tracmail, a business process outsourcing company in Navi Mumbai, will jog your memory — the Silicon Valley-based venture capital firm’s most notable investment in India. This week two former View executives were in the news for separate reasons. Dow Jones’ eFinancial News reports that Gaja Capital Partners, a private equity firm founded by former View India head Gopal Jain, raised $15 million from UK-based Electra Partners. VC Circle further reports that Gaja Capital aims to close its first fund corpus at $200 million. Jain’s colleague at View, Mintoo Bhandari, who led investments out of Silicon Valley, has just been signed up by New York-headquartered Apollo Management to head its India operations. Bhandari, who has been with Apollo’s UK outfit for a while, is currently setting up an office and team in Mumbai, reports VC Circle.
Tougher PE/VC investment guidelines: The Economic Times reported early this week that markets regulator Sebi is in the process of evolving a new mechanism to regulate private equity and venture capital investments in India.