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<ul><li>Builder.ai on Tuesday announced it has raised over $250 million in its Series D funding.</li><li>The latest funds take the total amount raised by the company to over $450 million with an up to 1.8 times increase in its valuation.</li><li>The Series D round included participation from additional existing and new investors including Iconiq Capital, Jungle Ventures and <keyword id="7496169" type="General" weightage="80" keywordseo="insight-partners" source="Orion">Insight Partners</keyword>.</li></ul>New Delhi, AI-powered software platform Builder.ai on Tuesday announced it has raised over $250 million in its Series D funding led by <keyword id="6437412" type="General" weightage="80" keywordseo="qatar-investment-authority" source="Orion">Qatar Investment Authority</keyword> (<keyword id="345488" type="General" weightage="80" keywordseo="qia" source="Orion">QIA</keyword>). The latest funds take the total amount raised by the company to over $450 million with an up to 1.8 times increase in its valuation. The company, which just announced a strategic collaboration with Microsoft which includes an undisclosed equity investment in the startup, said that the latest round of capital will fuel its continued industry leadership and innovation pipeline allowing further investments in talent, partnerships, and technology. "We are entering an incredible time in history where the very notion of software is changing; from something that had a shelf life of years to what will eventually have a shelf life of a conversation and the volume of what is being created is only going to grow exponentially" said <keyword id="3075151" type="General" weightage="50" keywordseo="sachin-dev-duggal" source="Orion">Sachin Dev Duggal</keyword>, Chief Wizard and Founder of Builder.ai. With customer demand at an all-time high and AI advancing every day, the company has almost doubled its headcount since January 2022, and extended its UK HQ footprint with four new offices opened since 2021 - including the US, the UAE, Singapore and France. The Series D round included participation from additional existing and new investors including Iconiq Capital, Jungle Ventures and <keyword id="6474108" type="General" weightage="80" keywordseo="insight" source="Orion">Insight</keyword> Partners. "We are confident that Builder.ai's innovative technology and proven approach positions the company for a future of substantial growth," said Ahmed Ali Al-Hammadi, CIO for Europe, Türkiye and Russia at QIA. "Sachin and the Builder.ai team have produced tremendous results since Insight invested one year ago. We are thrilled to be doubling down on our support of the company," added Jeff Horing, Co-Founder and Managing Director at Insight Partners. Established in 2016, Builder.ai continues to lead the industry with its AI-powered composable software platform that allows anyone with an idea to build an app (web or mobile) -- faster and 70 per cent more affordably. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

AI software platform Builder.ai raises over $250 mn led by Qatar Investment Authority (QIA)

<ul><li><keyword id="345488" type="General" weightage="80" keywordseo="qia" source="Orion">QIA</keyword> gives financial backing to <keyword id="13149844" type="General" weightage="20" keywordseo="bodhi-tree-investment-platform" source="Orion">Bodhi Tree Investment Platform</keyword>, a strategic partnership Of Lupa Systems And <keyword id="105547" type="General" weightage="20" keywordseo="uday-shankar" source="Orion">Uday Shankar</keyword>.</li><li><keyword id="131171" type="General" weightage="100" keywordseo="bodhi-tree" source="Orion">Bodhi Tree</keyword> to focus on media and consumer technology opportunities in Southeast Asia, with a particular focus on India; QIA to commit up to $US1.5 billion to the venture and its opportunities.</li></ul>Lupa Systems Founder and CEO James Murdoch and Uday Shankar, the former Chairman and CEO of Star India and the former President of Walt Disney Asia Pacific, announced today they are forming a new venture, "Bodhi Tree," an <keyword id="4964195" type="General" weightage="20" keywordseo="investment-platform" source="Orion">investment platform</keyword> that will be financially supported by the Qatar Investment Authority (QIA). This new venture is designed to invest in media and consumer technology opportunities in Southeast Asia, with a particular focus on India. Bodhi Tree will leverage technology to provide disruptive solutions that drive transformational outcomes in sectors with deep consumer engagement – including media, education and healthcare – to positively impact millions of consumers across the region. Bodhi Tree will be investing at scale to achieve these outcomes. The newly formed venture will be run by Murdoch and Shankar as co-chairs, combining decades of experience influencing the region's media landscape and emerging consumers. QIA will be committing up to $US1.5 billion in Bodhi Tree's vision being pursued by Murdoch and Shankar. "We are very pleased to announce Bodhi Tree," Messrs Murdoch and Shankar said. "Opportunities abound to scale exciting businesses in India and the broader Southeast Asia region. Our continued focus on investing and building relationships in these regions comes from our deep conviction in the long-term growth of these economies and the incredible power of these consumers, as these sectors are transformed by technology." QIA CEO Mansoor bin Ebrahim Al-Mahmoud said: "QIA is proud to play a key role in bringing Bodhi Tree to reality. QIA is investing i n the technology and media space and India is a key market for us. QIA looks forward to backing Bodhi Tree as they drive forward their growth plans in the future."

Uday Shankar and Lupa Systems enter into a strategic partnership to form an investment platform

New Delhi, Feb 11 () Adani Transmission on Tuesday said it has sold 25.1 per cent stake in its arm Adani Electricity Mumbai Ltd (AEML) to Qatar Investment Authority (QIA) for approximately Rs 3,220 crore. "Qatar Investment Authority (QIA) has completed acquisition of 25.10 per cent stake in Adani Electricity Mumbai Ltd (AEML) from ATL (Adani Transmission Ltd) along with an investment in shareholder subordinated debt in AEML on 10 February, 2020," the transmission and distribution business arm of the Adani Group said in a filing to BSE. The total QIA investment in AEML is approximately Rs 3,220 crore, which includes equity consideration of approximately Rs 1,210 crore and shareholder subordinated debt of approximately Rs 2,010 crore, the filing said. The definitive agreements for the transaction were signed on December 11, 2019, and all the requisite approvals were received subsequently. AEML has recently completed an investment grade, USD 1 billion bond issuance, the first by a private integrated utility from India. The issue generated significant interest from international investors. The shares of Adani Transmission were trading at Rs 333.95 apiece on BSE, up 0.6 per cent from previous close. SID SID ANSANS

Adani Transmission sells 25.1 pc stake in arm AEML to QIA for Rs 3,220 cr

New Delhi, Dec 11 () Qatar Investment Authority has agreed to buy a 25.1 per cent stake in Adani Electricity Mumbai Ltd - the firm that distributes power to three million consumers in Mumbai - for Rs 3,200 crore.
 Adani Electricity Mumbai Ltd is a part of Adani Transmission Ltd, while Qatar Investment Authority (QIA) is the sovereign wealth fund of the Qatar.
 "Adani Transmission Limited (ATL), Adani Electricity Mumbai Ltd (AEML) and a subsidiary of Qatar Investment Authority (QIA) have signed definitive agreements for the sale of a 25.1 per cent stake in AEML to QIA and for a shareholder subordinated debt investment by QIA in AEML.
 "The total QIA investment in AEML will be approximately Rs 3,200 crore," a company statement said.
 AEML is the licensee for an integrated power distribution, transmission and generation business that currently serves more than three million consumers across a license area of about 400 square kilometers in Mumbai.
 Its market share of Mumbai is close to 87 per cent by license area, 67 per cent by consumers served and 55 per cent by electricity supplied.
 "As part of the transaction, ATL and QIA have agreed definitive plans to ensure that over 30 per cent of the electricity supplied by AEML is sourced from solar and wind power plants by the year 2023," the statement said.
 "In addition, ATL and QIA have agreed a number of other green initiatives to combat climate change and facilitate the transition to a sustainable, low carbon economy."
 Adani Group Chairman Gautam Adani said his company together with Qatar Investment Authority will work towards improving the reliability of supply and consumer satisfaction.
 "We believe this transaction is a significant step in the journey of the Adani Group, marking the start of a long term partnership with QIA," he said.
 QIA Chief Executive Officer Mansoor Al-Mahmoud said: "We look forward to a long term partnership with the Adani Group, with whom we share an inter-generational perspective on investments and a common vision for the sustainable growth and continued success of AEML".
 Adani Electricity Mumbai Limited said it serves over three million consumers spread across 400 sq km in Mumbai and its suburbs meeting close to 2,000 MW of power demand with 99.99 per cent reliability.
 Adani Transmission Ltd is the transmission and distribution business arm of the Adani Group with a cumulative transmission network of around 14,738 circut km, out of which 11,477 ckt km is operational and 3,261 ckt km is at various stages of construction.
 Al-Mahmoud further said "this investment demonstrates our confidence in India, with whom Qatar shares deep-rooted ties and excellent relations."
 The deal is expected to complete in early 2020 subject to receipt of regulatory approvals and satisfaction of customary conditions precedent.
 SKN Advisors Ltd acted as financial advisor and Cyril Amarchand Mangaldas acted as legal advisor to ATL and AEML on the Transaction.
 JP Morgan acted as financial advisor and Cleary Gottlieb Steen amd Hamilton LLP and AZB and Partners acted as legal advisors to QIA on the transaction. ANZ DRR

Qatar sovereign wealth fund QIA buys 25.1 pc stake in Adani Electricity Mumbai for Rs 3,200 cr

A unit of <keyword id="6437412" type="General" weightage="20" keywordseo="Qatar-Investment-Authority" source="Orion">Qatar Investment Authority</keyword>, <keyword id="119583" type="General" weightage="20" keywordseo="SBI-Mutual-Fund" source="Orion">SBI Mutual Fund</keyword>, and foreign investment funds <keyword id="6354527" type="General" weightage="20" keywordseo="Nomura" source="Orion">Nomura</keyword> and <keyword id="44473" type="General" weightage="20" keywordseo="Citigroup" source="Orion">Citigroup</keyword> were the biggest buyers of shares in <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="267" meta.entityid="Adani Group">Adani group</keyword>'s <keyword id="22661797" type="General" weightage="20" keywordseo="power-transmission-unit" source="Orion">power transmission unit</keyword>'s USD <keyword id="22661798" type="General" weightage="20" keywordseo="1-billion-QIP" source="Orion">1 billion QIP</keyword>, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of <keyword id="19964750" type="General" weightage="20" keywordseo="Adani-Energy-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Energy Solutions" meta.hostid="267" meta.entityid="Adani Energy Solutions">Adani Energy Solutions</keyword> Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire <keyword id="22623487" type="General" weightage="20" keywordseo="Stanley-Druckenmiller" source="keywords">Stanley Druckenmiller</keyword>'s family office-led investment firms were among the companies that sought shares of AESL in the QIP. AESL in the filing said its board has approved allocation of over 8.57 crore shares to eligible qualified institutional buyers at the issue price of Rs 976 per share, reflecting a discount of Rs 51.11 (4.98 per cent) to the floor price of Rs 1,027. Giving details of allottees who got more than 5 per cent of shares, it said INQ Holdings LLC, a wholly-owned subsidiary of QIA, cornered 15 per cent of the shares sold. Two Mauritius funds of Citigroup bought 8.88 per cent of the shares sold while four SBI funds - SBI Infrastructure Fund, SBI Large &amp; Midcap Fund, SBI Long term Advantage Fund Series IV and SBI Magnum Children's Benefit Fund - together took home 7.93 per cent of the shares. Nomura Singapore Ltd ODI cornered 7.5 per cent of the shares, the filing showed. INQ had in August last year acquired nearly 2.7 per cent in Adani Green Energy Ltd - the renewable energy firm of the conglomerate run by billionaire Gautam Adani. In 2020, it had acquired a stake in Adani Electricity Mumbai Ltd, a subsidiary of AESL. The AESL QIP last week was oversubscribed six times and fetched demand of over Rs 50,000 crore against an issue size of USD 1 billion. <keyword id="22636516" type="General" weightage="20" keywordseo="Duquesne-Family-Office" source="keywords" meta.keywordsubtype="org" meta.entityname="Duquesne Family Office" meta.hostid="267" meta.entityid="Duquesne Family Office">Duquesne Family Office</keyword> and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - bought shares but AESL did not disclose the exact number of shares they bought since these were less than 5 per cent of the issue size, sources said. The QIP issue marked the debut of highly prestigious long-only investors Duquesne Family Office, Driehaus Capital Management and Jennison Associates which are known for their strong performance. These investors are known for investing only in companies with high governance and are known for staying invested for decades. The QIP was the first public equity raise by the conglomerate since a damning Hindenburg report last year wiped away billions in shareholder value. The demand generated made the AESL QIP the largest in the energy space. Duquesne was founded by billionaire Stanley Druckenmiller, who along with George Soros in 1992 broke the Bank of England by shorting the British pound, leading to its crash and earnings over a billion dollars. Adani Group has a history of introducing several long-only investors in the market. In the past years, it has brought large investors including GQG Partners and International Holding Company (IHC) besides QIA. Other major global names that participated in the QIP include Blackrock, Jupiter Asset Management, and Eastspring. Domestic mutual funds that have participated included HDFC Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, LIC, WhiteOak, 360One among others. Insurance companies including SBI Insurance, SBI Pension and ASK Asset Management have also participated, according to sources. QIP is an instrument used by listed companies to raise funds from large institutions. The fundraise is the first after Adani group's flagship firm scrapped a Rs 20,000 crore issue in February last year, following the Hindenburg report alleging accounting fraud and stock manipulation. Though the group vehemently and repeatedly denied all allegations, listed companies of the conglomerate at one point saw over USD 150 billion of their market value being wiped out. While the group has largely recovered, a successful QIP is being seen as a powerful vote of investor confidence in the tycoon. Separately, Adani Enterprises Ltd, the flagship firm of the group, is looking to revive its first-ever public sale of bonds. It plans to raise as much as Rs 600 crore. The company has hired Trust Investment Advisors, AK Capital Services and Nuvama Wealth Management as lead managers for the issuances. The group had tapped the dollar bond market in March this year - the first time since the Hindenburg report - when its solar energy unit Adani Green Energy Ltd and associated firms got bids of about USD 2.9 billion.

Qatar Investment Authority unit, SBI funds, Citigroup biggest buyers in Adani Energy's USD 1 billion QIP

<ul class="summary-list"><li>Qatar Investment Authority's CEO told Bloomberg TV it hasn't asked Elon Musk to tweet less.</li><li>QIA's CEO said the fund trusts Musk's leadership to turn the company around.</li></ul>The head of the Qatari sovereign wealth fund — which pumped <a href="https://www.sec.gov/Archives/edgar/data/1494730/000110465922056055/tm2214608-1_sc13da.htm" target="_blank" rel="noopener">$375 million</a> into Elon Musk's acquisition of Twitter — said it hasn't asked the social media company's new CEO to tweet less."Have you asked him to tweet less in the last eight months? There was so much volatility. Do you get involved in those calls?" <a href="https://www.bloomberg.com/news/articles/2023-01-16/qia-ceo-says-wealth-fund-trusts-elon-musk-s-twitter-leadership?srnd=premium-asia">Bloomberg TV's Francine Lacqua asked Mansoor Al Mahmoud</a>, the CEO of Qatar Investment Authority, or QIA, in an interview at the World Economic Forum in Davos."Not really, I mean we do not really involved to that extent in term of, again, he has our trust and we are sure that he would manage it very professionally," Al Mahmoud responded. "We engage with the management, with Elon in terms of the plan that he has for the company, and we believe in this, and we trust his leadership in terms of turning around the company," he further said. Since <a href="https://www.businessinsider.com/elon-musk-enters-twitter-headquarters-carrying-bathroom-sink-video-2022-10" target="_blank" rel="noopener">acquiring Twitter</a> for $44 billion in late October, Musk has instituted <a href="https://www.businessinsider.com/everything-happening-inside-of-elon-musks-twitter-during-layoffs-2022-11" target="_blank" rel="noopener">sweeping changes</a> at the company, including mass layoffs — which he said was necessary as the company was <a href="https://www.businessinsider.com/elon-musk-says-twitter-loses-4-million-dollars-a-day-2022-11">losing $4 million a day</a> — and <a href="https://www.businessinsider.com/elon-musk-said-donald-trumps-twitter-account-will-be-reinstated-2022-11" target="_blank" rel="noopener">reinstating the account of former President Donald Trump</a> after taking a poll.Musk has also been commenting more about <a href="https://www.businessinsider.com/elon-musk-right-wing-extremism-twitter-mythology-of-the-center-2022-12">political issues</a> since acquiring the platform, adding to controversies surrounding the company which have spilled over to <a href="https://www.businessinsider.com/elon-musk-twitter-antics-causing-tesla-owners-ditch-car-brand-2023-1">Tesla,</a> where Musk is also the CEO. The Qatar Investment Fund is one of a group of high-profile investors who have provided funding for Musk's Twitter deal. The list also including Saudi Arabian <a href="https://www.businessinsider.com/elon-musk-twitter-deal-extra-7-billion-backing-saudi-prince-2022-5">Prince Alwaleed bin Talal</a> and Binance, according to a <a href="https://www.sec.gov/Archives/edgar/data/1494730/000110465922056055/tm2214608-1_sc13da.htm" target="_blank" rel="noopener">regulatory filing. </a>In December, Musk was <a href="https://www.businessinsider.com/elon-musk-photographed-qatar-investment-ceo-world-cup-final-2022-12">seen</a> at the Football World Cup final in Qatar with Al-Mahmoud, just hours before <a href="https://www.businessinsider.com/elon-musk-ceo-step-down-resign-vote-poll-results-leader-2022-12" rel="">the Twitter CEO tweeted a poll</a> asking if he should step down as head of the social media platform. This fueled speculation over whether Musk had met and discussed his leadership of Twitter with investors from Qatar and Saudi Arabia.Musk's business deals with foreign countries have raised questions over national security risks. In November, <a href="https://www.businessinsider.com/biden-elon-musk-foreign-countries-worthy-looked-saudi-qatar-twitter-2022-11">President Joe Biden</a> said at a <a href="https://www.youtube.com/watch?v=OmSnNTchti0&amp;ab_channel=Reuters" rel=" nofollow">White House press conference</a> that Musk's business ties with foreign nations were "worthy of being looked at." White House officials had <a href="https://www.theguardian.com/technology/2022/oct/21/white-house-weighs-up-national-security-reviews-into-elon-musk-ventures" rel=" nofollow">earlier denied</a> <a href="https://www.bloomberg.com/news/articles/2022-10-21/us-weighs-security-reviews-for-musk-deals-including-twitter-buy" rel=" nofollow">reports</a> that it was planning a security review of Musk's deals, including the purchase of Twitter.The Qatar Investment Authority and Twitter did not immediately respond to Insider's requests for comment sent outside regular business hours.

Qatar's sovereign wealth fund — which invested $375 million in Elon Musk's Twitter buyout — says it hasn't told the new CEO to tweet less

<ul class="summary-list"><li>The Biden administration reportedly considered an official review of Elon Musk's Twitter takeover.</li><li>The White House had national security concerns over its foreign investors, per Bloomberg.</li></ul>The Biden administration considered subjecting Elon Musk's Twitter takeover to an official review over national security concerns, <a href="https://www.bloomberg.com/news/features/2023-03-21/how-buying-twitter-made-elon-musk-one-of-joe-biden-s-biggest-headaches">Bloomberg reported</a>.That's because they feared foreign nationals who helped finance the deal could have accessed Twitter user data, provoking concerns in the intelligence community, people familiar with the matter told Bloomberg.Changpeng Zhao, the Binance CEO; Saudi Prince Alwaleed bin Talal; and Qatar's sovereign wealth fund are all investors in Musk's Twitter.The sovereign wealth fund contributed $375 million to Musk's $44 billion takeover, <a href="https://www.sec.gov/Archives/edgar/data/1494730/000110465922056055/tm2214608-1_sc13da.htm" target="_blank" rel="noopener">SEC filings show</a>. Binance invested $500 million into the deal, while bin Talal committed to buying <a href="https://www.businessinsider.com/elon-musk-twitter-deal-extra-7-billion-backing-saudi-prince-2022-5">nearly 35 million shares to the tune of $1.9 billion</a>, per the SEC filing. Some in the Biden administration considered whether Musk's deal should be brought in front of the Committee on Foreign Investment in the United States, which can block business transactions over security concerns, Bloomberg reported.But the outlet added that the Treasury ruled this out on legal grounds, citing people familiar with the matter.Insider reported last December that <a href="https://www.businessinsider.com/elon-musk-photographed-qatar-investment-ceo-world-cup-final-2022-12">Musk was pictured with the CEO of the Qatar Investment Authority</a> just hours before tweeting a poll on whether he should step down as Twitter boss.The timing of Musk's poll led <a href="https://www.bbc.co.uk/news/technology-64003232" target="_blank" rel="noopener noreferrer">the BBC</a> to question whether Twitter investors in the Middle East may have called a meeting to question his management of the company.The QIA boss later told <a href="https://www.bloomberg.com/news/articles/2023-01-16/qia-ceo-says-wealth-fund-trusts-elon-musk-s-twitter-leadership" target="_blank" rel="noopener noreferrer">Bloomberg</a>: "We trust his leadership in terms of turning around the company."Top Biden officials also fear that Musk is close to untouchable thanks to his sprawling business empire, per Bloomberg. For example, he has influence over the war in Ukraine thanks to <a href="https://www.businessinsider.com/elon-musk-spacex-starlink-internet-connectivity-backbone-ukraine-war-drone-2023-2">the country's use of Starlink</a> to communicate, and <a href="https://www.businessinsider.com/elon-musk-spacex-starlink-internet-raising-prices-in-ukraine-2022-11">has raised prices</a>.In response to Insider's request for comment on the government's concerns, Twitter responded with a poop emoji – an auto-reply <a href="https://www.businessinsider.com/twitter-automatically-responds-to-press-emails-with-a-poop-emoji-2023-3">Musk announced Sunday</a>.The White House did not immediately respond to Insider's request for comment, sent outside US working hours.

The Biden administration considered probing Elon Musk's Twitter purchase over national security concerns, report says

<ul class="summary-list"><li><keyword id="11948703" type="UNKNOWN" weightage="60" keywordseo="best-buy" source="Orion">Best Buy</keyword> CEO <keyword id="14019653" type="UNKNOWN" weightage="60" keywordseo="corie-barry" source="Orion">Corie Barry</keyword> said Tuesday that she is "not planning for a full recession."</li><li>Others, like Arvind Krishna, CEO of <keyword id="11910457" type="UNKNOWN" weightage="60" keywordseo="ibm" source="Orion">IBM</keyword>, have predicted a smaller recession. </li></ul>In an earnings call Tuesday, Best Buy CEO Corie Barry said the company is "not planning for a full recession," and she's not the only one who thinks that could be the case. "It's fair to say we're factoring in for softer demand, but we're not planning for a full recession," she said on the call. "Consumer electronics over time is a stable industry. And the last two years have clearly underscored the importance of tech in people's lives," Barry added. Daniel Ives, managing director of equity research at Wedbush Securities, told Insider that could be true."I think consumer tech has become more of a staple," he said, with "very firm spending patterns." Best Buy beat Wall Street's expectations for fiscal first-quarter revenue and profit but lowered its guidance for the full year.Its shares were up about 1% in recent Tuesday trading.<a href="https://www.businessinsider.com/recession-warning-signs-advice-from-ceos-2022-5">Several top CEOs and executives</a> have already warned or worried that a dip is approaching, but a few, including Barry, have singled out the possibility of smaller sort of downturn on the horizon. "I see something mild," said Arvind Krishna, CEO of IBM, according to the <a href="https://www.wsj.com/articles/at-davos-confab-ceos-fret-over-economy-start-to-plan-for-a-downturn-11653323066?mod=Searchresults_pos1&amp;page=1">Wall Street Journal</a>. He said something similar on an earnings call in late April, per <a href="https://seekingalpha.com/article/4502264-international-business-machines-corporations-ibm-ceo-arvind-krishna-on-q1-2022-results">Seeking Alpha</a>. Krishna added that he is seeing a bit more prudence from his network, the Journal reported. Mansoor Al Mahmoud, CEO of Qatar Investment Authority (QIA), also sees a milder downturn. "I'm not saying that we will not have a slowdown, I'm not saying that we might not have a recession, but if we have a recession, it will be a light recession," he <a href="https://www.cnbc.com/2022/05/22/recession-will-be-light-qatar-investment-authority-ceo-says-.html">told CNBC</a> at the World Economic Forum's annual gathering in Davos, Switzerland.The QIA manages the country's sovereign wealth fund.Wells Fargo CEO Charles Scharf has said a downturn is pretty likely but that he hopes it will be "short and not all that deep," Insider <a href="https://www.businessinsider.com/recession-warning-signs-advice-from-ceos-2022-5#wells-fargos-ceo-says-theres-no-question-of-an-economic-slowdown-3">reported</a>. Millennials, who have <a href="https://www.businessinsider.com/personal-finance/millennials-conservative-investors-after-coronavirus-2020-6">lived through two historic downturns</a>, could be forgiven for being skeptical, but experts <a href="https://www.businessinsider.com/next-recession-outlook-mild-inflation-cooldown-federal-reserve-economic-recovery-2022-5">previously told Insider</a> it is likely that this potentially approaching slump will be one of the first regular recessions since the early 1990s."The type of recession we're looking at is not like a serious, massive downturn in consumer spending across the board," Brett Ryan, senior US economist at Deutsche Bank, <a href="https://www.businessinsider.com/next-recession-outlook-mild-inflation-cooldown-federal-reserve-economic-recovery-2022-5">told Insider</a>.

Best Buy’s CEO says she isn’t planning for a ‘full recession’ — and she’s not alone

New Delhi, Dec 20 () The Competition Commission of India on Friday said it has given approval under the green channel route to acquisition of over 25 per cent stake in Adani Electricity Mumbai Ltd and Adani Electricity Mumbai Services Ltd by Qatar Holding LLC.
 The Qatar Investment Authority (QIA) earlier in December agreed to buy a 25.1 per cent stake in Adani Electricity Mumbai Ltd -- the firm that distributes power to three million consumers in Mumbai -- for Rs 3,200 crore.
 "Adani Transmission Limited (ATL), Adani Electricity Mumbai Ltd (AEML) and a subsidiary of Qatar Investment Authority (QIA) have signed definitive agreements for the sale of a 25.1 per cent stake in AEML to QIA and for a shareholder subordinated debt investment by QIA in AEML.
 "The total QIA investment in AEML will be approximately Rs 3,200 crore," a company statement had said.
 Qatar Holding LLC, registered as a foreign portfolio investment with Sebi, is an investment holding company of the QIA, the Competition Commission of India (CCI) said.
 Under the green channel route, CCI also approved acquisition of IDBI Asset Management Ltd and IDBI MF Trustee Company Ltd by Muthoot Finance Ltd.
 Muthoot Finance in November said it has "entered into a definitive agreement to acquire IDBI Asset Management (AMC) and IDBI MF Trustee Company".
 Upon completion of the transaction, Muthoot Finance will purchase 100 equity shares of IDBI AMC and IDBI MF Trustee Company held by the sellers for a total consideration of Rs 215 crore, it had added.
 Besides, the fair trade regulator also approved acquisition of GVK Airport Holdings Ltd by Green Rock B 2014 Ltd, the National Investment and Infrastructure Fund (NIIF) and Indo-Infra Inc.
 "The notification relates to acquisition of shares of, and control over, GVKAHL...and through GVKAHL (and/or through its affiliates), control over GVKAHL's subsidiaries, Mumbai International Airport Limited and Navi Mumbai International Airport Private Limited by Green Rock, NIIF, and Indo-Infra," CCI said in a release.
 Green Rock, a trustee of Green Stone Trust, has made certain investments in India and does not carry out any business activities directly in India. NIIF is an alternative investment fund with a focus to provide long-term capital to the country's infrastructure sector, CCI said.
 Indo-Infra is a holding company and part of the PSP group which is a Canadian Crown corporation established by the Canadian Parliament under the Public Sector Pension Investment Board Act, it added.
 The green channel concept -- recommended by the high-level panel that reviewed competition law in August -- allows for an automatic system for speedy approval for certain categories of merger and acquisitions.
 Under the framework, green channel approvals can be availed in combinations where there are no horizontal overlaps, no existing or potential vertical relationships and no complementary business activities between the combining parties, or their respective group entities, or involving any entity in which any of the combining parties hold shares or have control. SRS HRS

CCI approves under green channel Qatar Holding LLC's stake buy in Adani Electricity Mumbai

<ul><li><keyword id="2687606" type="PERSON" weightage="20" keywordseo="Adani-Transmission">Adani Transmission</keyword> completed a transaction where QIA will invest $452 million. </li><li>Of this, as much as $170 million in equity part of investment will also go to the promoters who hold perpetual shares. </li><li>This will only add to the already bulging coffers of Gautam Adani family whose net worth is pegged at $15.7 billion<a href="https://www.forbes.com/profile/gautam-adani/#6c4769b01608"> by Forbes</a>. </li></ul>The Gautam Adani and family just got richer by ₹1,210 crore (around $170 million) today. They sold stake in one of their many companies— around 25.1% of Adani Electricity to <keyword id="6437412" type="UNKNOWN" weightage="20" keywordseo="Qatar-Investment-Authority">Qatar Investment Authority</keyword> (QIA). It completed a transaction where QIA will invest ₹3,220 crore ($452 million) into the company, which is a part of Adani Transmission. Of this, ₹2,010 crore will go as its share of debt, while the rest is equity, the rest will all land in the hands of the promoter. “Entire equity proceeds stake sale has been used by ATL towards return of the Perpetual to the tune of ₹1,209.62 crore in favor of contributory promoter entity,” said the press release. Consequently, the promoter perpetual outstanding will be reduced to ₹2,544.3 crore. Perpetual stock is a kind of preference shares that promoters or any other entity can hold. It is favourable to the holder because it pays fixed dividends to the investors and has no maturity period or sale date associated with it. It can exist for as long as the company does. Adani family’s net worth is bulging This will only add to the already bulging coffers of Gautam Adani family whose net worth is pegged at $15.7 billion<a href="https://www.forbes.com/profile/gautam-adani/#6c4769b01608"> by Forbes</a>. Adani is the fifth richest person in the country, according to Hurun list and has interests across ports, power and trading and is rapidly expanding into other infrastructure like airports and data centres. While most of his wealth comes from his ports business, Adani Transmission is also one of his best performing stocks. In the last six months, the stock appreciated by 50% backed by at least five power transmission construction projects it won across Gujarat, Rajasthan and Maharashtra. Its deal with QIA to sell stake in Adani Electricity that has a licence to supply power in Mumbai – also helped the stock gain. After today’s announcement, the stock gained by around 1.5% to ₹337, as per data on BSE. Adani Transmission too, has been on a fundraising spree in spite of slowdown in credit growth in India. Just last week, it raised as much as $1 billion in foreign currency debt. “It is the first by a private integrated utility from India. The issue generated significant interest from international investors and was oversubscribed by over 5.9 times,” the company had then said. This so-raised debt, however, will be used to power on its plans to build transmission project bids that it has won.

Adani Promoters take home ₹1210 crore of the Qatar investment’s funding

<ul><li>The Indian <keyword id="1464841" type="PERSON" weightage="20" keywordseo="Edtech">edtech</keyword> unicorn has raised $150 million from <keyword id="6437412" type="UNKNOWN" weightage="20" keywordseo="Qatar-Investment-Authority">Qatar Investment Authority</keyword> and Owl Ventures. </li><li>Its reported valuation now stands at $5.7 billion.</li><li>This is QIA’s first primary investment in India.</li></ul>Byju’s, India’s first edtech unicorn, has secured an investment of $150 million from <keyword id="6355203" type="LOCATION" weightage="20" keywordseo="qatar">Qatar</keyword> Investment Authority and Owl Ventures. According to <a href="https://www.business-standard.com/article/companies/byju-s-confirms-investment-from-qatar-investment-authority-raises-150-mn-119071000421_1.html">reports</a>, Byju’s is now valued at $5.7 billion. Qatar Investment Authority is the sovereign wealth fund of the State of Qatar, who have been investing since 2005. In India, it has investments in real estate, Airtel and Flipkart. However, Byju’s is the first primary investment made by QIA in India. “Indian ed-tech firms attracting interest from eminent investors demonstrates that India is pioneering the digital learning space globally. High adoption and 85% annual renewal from small towns and cities shows increasing acceptance of digital learning as a primary tool for learning at home,” said <keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword>, Founder &amp; CEO, Byju’s in a <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/qatar-investment-authority-leads-a-150-million-investment-round-in-byjus/articleshow/70153452.cms">statement. </a> Raveendran further said that with this new partnership they will explore newer markets. Byju’s had raised ₹2.14 billion in March 2019 from NY-based General Atlantic and Chinese VC firm Tencent. In May 2019, the startup had announced that it had turned profitable, thanks to an increase in the number of paid users, at 2.4 million. This number has doubled since last year, when it stood at 1.26 million in June 2018.

Byju’s raises $150 million from Qatar government’s investment fund

<ul><li>India's billionaire club added a new member, <keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword>. </li><li><keyword id="299516" type="PERSON" weightage="20" keywordseo="Raveendran">Raveendran</keyword> holds more than 21% stake in the Bengaluru-based educational technology and online tutorial firm, which makes him a billionaire. </li><li>He started his journey as a teacher. </li></ul>Last week, India's billionaire club added a new member, <keyword id="2900267" type="PERSON" weightage="20" keywordseo="Byju">Byju</keyword> Raveendran, the 37-year-old tech-entrepreneur who is changing the way students are coached in India. The latest round of $150 million funding from <keyword id="6437412" type="COMPANY" weightage="20" keywordseo="Qatar-Investment-Authority">Qatar Investment Authority</keyword> (QIA) has hit $6 billion valuations, making its Founder and CEO Byju Raveendran the newest billionaire in the country. Raveendran holds more than 21% stake in the Bengaluru-based educational technology and online tutorial firm, which makes him a billionaire. 
	
	
	
	
	
	
	<div type="Slideshow" msid="70550887" hostid="261" title="The remarkable journey of Byju Raveendran from a teacher to a billionaireThe remarkable journey of Byju Raveendran from a teacher to a billionaire" firstImageMsid="70551027" slideCount="6"></div>















 (with IANS)

You Searched For "qia" and got 12 results

AI software platform Builder.ai raises over $250 mn led by Qatar Investment Authority (QIA)

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Adani Transmission sells 25.1 pc stake in arm AEML to QIA for Rs 3,220 cr

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Qatar sovereign wealth fund QIA buys 25.1 pc stake in Adani Electricity Mumbai for Rs 3,200 cr

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CCI approves under green channel Qatar Holding LLC's stake buy in Adani Electricity Mumbai

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Adani Promoters take home ₹1210 crore of the Qatar investment’s funding

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Byju’s raises $150 million from Qatar government’s investment fund

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