India Dealbook: Star Health gets $250m from Bain Capital, Ola raises $50m more

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Bain Capital may invest $250 million in Star Health & Allied Insurance even as Ola has reportedly raised up to $50 million from New York-based investment firm Tekne Capital Management.

Bain Capital to invest $250m in Star Health

PE firm Bain Cap is looking to buy a minority stake in Star Health & Allied Insurance for $250 million, according to an Economic Times report.

The transaction, if successful, will come as a pre-IPO round of funding and will buy out shares held by other financial investors including Sequoia Capital, ICICI Venture, Tata Capital and Oman Insurance Co, the report said.

Kotak Mahindra has been appointed to help in raising the funds.

Ola raises up to $50m from NY-based Tekne Capital

Cab-hailing firm Ola has raised up to $50 million from the New York-based investment firm Tekne Capital Management, The Economic Times reported citing sources.

The fresh infusion of funds is a part of company’s ongoing round which has also received money from Ratan Tata’s venture fund RNT Capital Advisors and US hedge fund Falcon Edge.

Last November, RNT Capital Advisers and existing investor Falcon Edge Capital invested Rs 670 crore in Ola in which the cab aggregator raised Rs1,675 crore from SoftBank Group Corp.

Ola, run by ANI Technologies Pvt. Ltd, raised capital at a lower valuation of $3 billion last year, from $4.5-5 billion in 2015.

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