Infosys co-founders roll out Rs 200 crore seed fund for startups
Posted on 13th June 2018 |
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| BENGALURU: Early-stage VC financier Axilor Ventures has launched a Rs 200-crore seed fund. Called Axilor Technology Fund, it will invest in fledgling startups looking for pre-seed or seed money in areas that include enterprise, deep tech, artificial intelligence (AI), consumer, fintech and healthcare. The fund is backed by Infosys co-founders S D Shibulal and Kris Gopalakrishnan, former Infosys board member Srinath Batni, and Tarun Khanna — the Jorge Paulo Lemann Professor at Harvard Business School. “There has been some weakness in the series-A funding pipeline. The fund is aimed at filling this gap and funding high-quality startups,” said Gopalakrishnan. The fund plans to invest in seven to eight startups this year. Ganapathy Venugopal, co-founder and CEO of Axilor Ventures, said, “As most founders would vouch, in the early stages, capital is not the only requirement, not even the primary one. A seed fund should be able to add value beyond capital. At Axilor, we have built the network that offers access to customers, investors and an active founder community.” Earlier, Axilor Venture said that it was focused on investments with an average ticket size of Rs 1-2 crore, but the new fund will invest up to Rs 3 crore. About 50% of the new fund will be deployed for seed stage investments, while the rest will be used for series A and pre-series-A funding. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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