Modulus Alternatives will invest $18 million in Shivam Autotech Limited, while Unitis Ventures said it is joining forces with its US affiliate Capria Ventures to operate as a single brand.
Modulus Alternatives to pump $18m into Shivam Autotech
Modulus Alternatives Investment Managers on Wednesday said it will invest $18 million (Rs 150 crore) in Shivam Autotech Limited, a unit of HERO Group.
The first tranche of Rs 105 crore has already been invested, it said.
This is the maiden investment from Modulus Alternatives’ second private credit fund, India Credit Opportunities Fund II, launched earlier this year.
Shivam Autotech is the 16th investment by Modulus Alternatives, taking its total invested capital to Rs 1,895 crore. To date, the firm has exited 10 investments and returned more than Rs 825 crore of capital to investors.
Rebranded Unitus to double down on India
Early-stage venture capital firm Unitis Ventures said it is joining forces with its US affiliate Capria Ventures to operate as a single brand. The rebranded firm will double down on investing in India.
In addition to early-stage investing, it will also invest in early growth-stage startups across a broader range of sectors, including fintech, jobtech, edtech, agritech, climate, and SaaS.
Some of Unitus Ventures’ portfolio companies in India include BetterPlace, Awign, Cuemath, Eduvanz, and Masai School.
Globally, Capria will continue to invest in top emerging global South tech hubs, including Mexico City, São Paulo, Buenos Aires, Cairo, Lagos, Nairobi, Bangalore, Delhi, Mumbai, Singapore, Jakarta, and Ho Chi Minh City.