Electric vehicle maker Kinetic Green has raised $25 million from PE firm Greater Pacific Capital in its Series A round of funding. Separately, healthcare-focused private equity firm Somerset Indus Capital Partners, which is an investor in companies such as Genworks, Apex Hospitals, globela Pharma, and Sterling Hospitals, has secured the first close of its third fund, VCCircle reported.
Kinetic Green raises $25m
Electric vehicle maker Kinetic Green has raised $25 million from PE firm Greater Pacific Capital in its Series A round of funding. The company plans to raise up to $40 million in the round, it said in a statement.
The firm plans to use the funds to scale up production at its manufacturing facility in the western Indian city of Supa in Maharashtra state, market and distribute its products including the recently launched E-Luna, and for the R&D of new products.
Somerset Indus hits first close for third PE fund
Healthcare-focused PE firm Somerset Indus Capital Partners, which is an investor in companies such as Genworks, Apex Hospitals, Global Pharma, and Sterling Hospitals, has marked the first close of its third fund, VCCircle reported on Monday.
Somerset, which is targeting a corpus of $250 million for the Somerset Indus Healthcare Fund III, has raised $111 million, said Ramesh Kannan, senior partner at the PE firm.
The fund is now looking to make the next close by December, with participation from both domestic and international investors. It looks to make the final close by March 2025, with a balanced mix of LPs from the US, UK, Singapore, Hong Kong, the Middle East and more, the report said.
In May, DealStreetAsia reported that Somerset Indus increased the target for its third investment vehicle to about $250 million from $200 million. However, the timeline to raise the new corpus has been extended by a year due to slower deployment of the predecessor fund owing to legal documentation delays.
