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Deals RoundUp: Orbis Capital, Centrum Group, Y Combinator, Innov8, JustRide, Meesho, Bain Capital Ventures, Darktrace, KKR, Summit Partners and TenEleven Ventures

Y Combinator has for the first time inducted three Indian startups into its summer batch including Innov8, JustRide and Meesho.

Orbis Capital Plans to Raise $75M from PE investors

Orbis Capital Ltd, a non-banking custodial services provider, is seeking to raise around Rs.500 crore from private equity (PE) investors to fund diversification and set up a custodian bank. “We have initiated the process (of fundraising) recently and we are having preliminary dialogues with investors,” Atul Gupta, founder & chief executive officer told DealStreetAsia. The company has hired advisory firm BMR Associates to help it raise the money. Orbis, which provides custodial services such as clearing and settlement of securities market transactions to foreign and institutional investors, plans to expand to derivatives clearing and loans against shares.

Centrum group Looks to Raise $150M through New Fund

The Centrum group is in the process of launching an alternative investment fund (AIF) to raise up to Rs 1,000 crore ($150M) as it bets on startups and companies doing fintech and Internet-related businesses, as per ET report.

The company has obtained a "category II" approval from the Securities and Exchange Board of India and the fund is expected to be on stream within next two months. A chief investment officer will soon be appointed for the venture. "The core issue size could be of Rs 500 crore with an oversubscription option of another Rs 500 crore," said one person familiar with the matter. "But, the modalities are yet to be finalised as senior executives are still working on it."

Y Combinator Chooses 3 Indian Startups - Innov8, JustRide and Meesho - Into Its Summer Batch

Y Combinator has for the first time inducted three Indian startups into its summer batch including Innov8, JustRide and Meesho, as per TOI report.The accelerator invests $120,000 in startups for a 7% equity stake across two batches every year. YC has earlier funded two local startups — ClearTax, an online tax return filer, and Razorpay, a payments gateway, which too have India-centric products.

"India is one of the largest and fastest growing markets globally, and that's why we have been investing in Indian startups over the last couple of years. I think there will be multiple $10-billion-plus companies which will be started in India in the next few years and, hopefully, we will get a shot at funding some of those. Walking the talk, YC will be sending a couple partners to India in late September to meet one-on-one with Indian teams. We'll announce the visit and office hours, sign-ups in early August," Sam Altman, president of YC, said.

Bain Capital Ventures Closes $600M Investment Fund

Boston-based firm Bain Capital Ventures has closed a $600 million investment fund. BCV managing director Ajay Agarwal told VentureBeat that specific areas of focus for the new fund include “SaaS, machine learning, financial and retail technology, cybersecurity, cloud infrastructure, and open source.”

“We will also continue to balance investments geographically, including California, which now represents half of our senior investment team and half of our investment dollars,” said Agarwal.

Cybersecurity Software Firm Darktrace Raises Funding in Round Led by KKR

Darktrace, a provider of enterprise cyber-security threat defence software, has raised new growth equity financing, led by KKR with participation from repeat backer Summit Partners, and new investors TenEleven Ventures and SoftBank-affiliated SB ISAT Fund. Darktrace – which is headquartered in Cambridge, UK and San Francisco – has offices in New York, Auckland, London, Milan, Mumbai, Paris, Singapore, Sydney, Tokyo, Toronto and Washington D.C.

Darktrace will use proceeds from the investment to accelerate the global roll-out of its cybersecurity product, as per DealStreetAsia report.

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