If the new allowance by the SEBI with regards to hedge funds is anything to go by, India may soon witness a case similar to the ongoing one in American-listed nutrition company Herbalife which is facing a hedge fund investor battle in its stock.
SEBI, the regulatory watch dog in the capital markets, recently granted registration to five of the eleven asset managers seeking its approval to come up with hedge funds, a Mint piece stated.
This takes the tally to eight as three firms had already secured permission. Their AUMs could likely be in the range of R3,000-3,500 Cr and if all the funds retain 100% of their corpus in the next one year, the total size could be a minimum $1 Bn.
Sunnyvale, California-based Druva Inc., a cloud-first data protection solution provider, announced receiving $51 million in funding. This round of funding was led by existing investor Sequoia India, along with participation of new investors such as Blue Cloud Ventures, Hercules Capital, and Singapore-based EDBI. Existing investors like Japan’s NTT Finance (financial arm of Japanese telecommunications company Nippon Telegraph and Telephone Corporation), Nexus Venture Partners and Tenaya Capital also contributed to this round.