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Cohesity becomes the world’s largest AI-powered data protection and security platform after completing merger with Veritas’ enterprise data protection business

India’s IPO market is set for another blockbuster year in 2025, with major players like the National Stock Exchange and LG Electronics’ local unit gearing up for significant offerings. Over 300 IPOs in 2024 are expected to surpass the $17.8 billion record of 2021, fueled by strong domestic and foreign investor demand.

Bloomberg announced Dragon Fund recently co-led alongside General Catalyst the $340 million funding round for Zepto, an Indian online grocery startup, elevating its valuation by 40% to $5 billion.

Dragon Fund, by Liquidity, has made a significant investment of $50 million in Zepto, India’s fastest-growing consumer internet company, as part of a $340 million follow-on financing round that elevated Zepto’s valuation to $5 billion.

Zepto, the fast-growing quick commerce company based in Mumbai, has raised $360 million in a new funding round, bringing its valuation to $5 billion. Notably, this round introduced Singapore’s Dragon Fund as a new investor, alongside U.S. venture capital firm General Catalyst, which led the round, and San Francisco-based Epiq Capital. Existing backers like StepStone, Lightspeed, DST, and Contrary also increased their stakes.

MARS Equity, a joint venture between Mitsubishi UFJ Financial Group (MUFG) and Liquidity Group, has made its maiden foray into the equity space with the launch of Dragon Fund I.