VC Circle – CX Partners, a new private equity firm promoted by former Citigroup Venture Capital International (CVCI) head Ajay Relan, has achieved the first close of $220 million for its maiden fund. The first close was made by the fund in March this year, Relan told VCCircle. The fund plans a final close of $500-600 million by September this year.

"The fundraising environment was tough six months ago, but now it is getting better," Relan told VCCircle. Indian stock markets have also been on a rally with Sensex rising from 8,160 points on March 9 to 14,284 points yesterday.

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Tags: ajay, circle cx, citigroup, fundraising, indian stock markets, nbsp, private equity firm, rally, relan, sensex, six months, venture capital international

Reuters India – New Vernon Bought stakes in Indage Vitners and Orbit Corp. Deutsche Sec bought 11% into UB Group.

Private equity and hedge funds seem to be playing their parts in the brief rally that the Indian stock markets are witnessing. Multi-strategy fund New Vernon has picked up minor stakes in two

companies. New Vernon bought little more than 3% stake in Indage Vintners for Rs 2.76 crore. Indage Vintners, formerly known as Champagne Indage, is one of the oldest wine producer in the country.

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Tags: champagne indage, india, indian stock markets, orbit, rally, reuters, rs 2, stake, strategy-fund, vintners, vitners, wine producer