New Delhi, July 1 -- US buyout major KKR is in talks to invest in a joint venture set up by JSW and MG Motor, while Mumbai-based Equirus Capital is considering a fundraise, two separate media reports showed.

Meanwhile, Apna Mart is raising money in a new funding round from new and existing investors, and Pi Ventures is seeking to exit from the portfolio of its first fund as it gears up for the third vehicle, according to media reports.

JSW MG Motor

US private equity major KKR is discussing with the shareholders of JSW MG Motor India to invest up to $400 million (around Rs 3,788 crore) in the three-year old joint venture's first external fundraise, according to The Economic Times, citing sources.

The investment will reportedly involve a combination of primary equity infusion into the company to fund its growth plans as well as a secondary sale of shares involving a sell down by the Chinese shareholder, the automaker SAIC Motor.

The report noted the company is expecting a valuation of $3 billion (Rs 28,380 crore), which translates to a 100% jump since the JV came into existence. The talks are still ongoing and there's no guarantee the negotiations will lead to a deal, the report.

Sajjan Jindal-led JSW forged a $1.5 billion joint venture with SAIC-owned MG Motor India in March 2024.

Equirus Capital

Financial services firm Equirus Capital is considering raising as much as $60 million (around Rs 568 crore) in a funding round, according to a Bloomberg report, citing people familiar with the matter.

The Mumbai-based company is seeking to raise the capital by issuing fresh shares as well as via stake sales by some existing investors, the report said.

Bloomberg said that Equirus is working with an adviser, noting that the company could seek a valuation of about $600 million.

Apna Mart

Quick commerce platform Apna Mart is on course to raise Rs 120 crore (around $12.7 million) in a new funding round that could see its valuation double in more than a year.

The Franchise-driven omnichannel grocery and FMCG chain's Series C funding round will be co-led by existing investors Accel India and Fundamentum, with participation from Peak XV Partners, according to an Entrackr report, citing regulatory filings.

In March 2025, Gurugram-based startup raised around $25 million in its Series B round led by Fundamentum and Accel.

Entrackr estimates that Apna Mart's valuation will double to Rs 1,470 crore from Rs 738 crore in its previous funding round. The proceeds will be used towards capital expenditure, working capital requirements, and general corporate purposes, the report noted.

Pi Ventures

Deeptech-focussed venture capital firm Pi Ventures is preparing to exit investments from its first fund as it approaches the end of its lifecycle, a report in ET said.

The development comes at a time when the Bengaluru-based VC firm has held early talks to raise its third fund. Pi Ventures has faced heightened scrutiny over its portfolio returns, the report said, citing sources.

Founder and managing partner Manish Singhal denied that the portfolio exits amounted to a distress sale.

Published by HT Digital Content Services with permission from VC Circle.