Private equity firm Advent International, through its affiliate Jomei Investments, has fully exited its investment in Aditya Birla Capital Limited. In a separate development, Optimo Capital, a fintech NBFC, has raised Rs 150 crore ($17.5 million) in a Series A round.
PE firm Advent exits Aditya Birla Capital
Private equity (PE) firm Advent International, through its affiliate Jomei Investments, has fully exited its investment in Aditya Birla Capital Limited (ABCL) by selling its remaining 2.04% stake in the company for Rs 1,638 crore via open market transactions.
Advent first invested in ABCL in 2020 to support its strategic transformation and growth ambitions.
During this period, the company’s lending assets under management grew by 22%, the PE firm said in a media statement.
ABCL operates across a range of businesses, including the non-banking financial sector and asset management.
Optimo Capital raises $17.5m
Optimo Capital, that claims to be India’s digital Loan Against Property (LAP) fintech-NBFC, has raised Rs 150 crore ($17.5 million) in a Series A round led by founder Prashant Pitti, along with existing investors Blume Ventures and Omnivore.
The platform allows MSME entrepreneurs to use property as collateral for larger loans at lower interest rates than unsecured business or personal loans.
It offers in-principle approvals within hours and loan disbursals in under a week, versus the typical 4-6 week process.
According to a media statement issued by the startup, the new funds will be used to expand its technology, AI infra, co-lending partnerships, and presence across tier-3 India, to bridge the $530 billion credit gap in the Indian ecosystem.
