NewQuest buys DFJ India portfolio

Draper Fisher Jurvetson ran a limited auction process with a few potential buyers.

Hong Kong’s NewQuest Capital Partners has purchased a portfolio of India-focused assets from venture and growth capital firm Draper Fisher Jurvetson (DFJ), Secondaries Investor understands.

DFJ ran a limited auction process with a few potential buyers including HarbourVest Partners, according to two sources familiar with the deal.

NewQuest ultimately acquired the assets and the total net asset value was under $30 million, one of the sources said.

It was not clear whether NewQuest used its 2013-vintage NewQuest Asia Fund II, which was over 80 percent committed as of February, or its latest vehicle, Asia Fund III to purchase the assets.

The deal, which began as early as 18 months ago, reportedly included stakes in between 8 to 10 companies including Cleartrip, a travel website; Attero Recycling, an electronics recycling management firm; renewable energy generation company Bharat Light and Power and online photography company Canvera Digital

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