MC Insider: Venture capital firms 'promote' ego, startups stuck with fraudsters after hiring spree, CEO bares heart of gold, deal buzz and more

A slew of VC firms are 'promoting' their investment members. But there's more to it than meets the eye. Amid a funding boom, investors are often tempted to change jobs, or to leave and raise their own fund. Some people at firms promoted to partners are not actually partners, the designation is meant to give an ego boost and help public perception. Their share of the firm's profits, or carry, is less than that of actual partners. But whatever floats their boat!

Startup hiring hit record levels in 2021, leading to companies hiring candidates who were less than fit for the job. Now multiple startups, including unicorns, are stuck with mid-level employees who commit fraud, siphon off money, lie to seniors, seek approval for high budgets and use them for personal gains, among other reasons. Where will this end up? Sigh!

This CEO of this private financial institution is known for large-heartedness. In the past, the CEO has generously gifted substantial sums to some of the helpers, relatives and friends. Such gestures have attracted news headlines as well. Now, we hear, the CEO is planning more such gifts to some of the people in personal circles. The list includes the personal trainer as well. The announcement may happen in the near future.

Word on D-Street is that a big block is likely to be launched soon in a healthcare firm. The selling shareholders are likely to be the promoters of this company which is known to pursue an asset light model.

We hear a certain engineering and manufacturing stock which has been buzzing in the past month or so is on the verge of sealing a deal with a prominent European player. The proposed JV is likely to be announced soon and if it fructifies, it would be the second tie-up of the overseas player in recent times which has also warmed up to the EV mobility solutions segment.

Sticking to healthcare, a little birdie tells us that a bulge bracket private equity fund is in advanced stages of giving an exit to an Asian peer and picking up a chunky minority stake in a hospital chain. Valuations are favourable in the segment which is ticking with a lot of transactions currently.

Former Indian Police Services (IPS) officer Asim Arun, who is contesting Uttar Pradesh election on a Bharatiya Janata Party ticket from Kannauj, is said to be seeking campaigning tips from two of his friends who happen to be civil servants-turned politicians from Odisha. The friends helping Arun are Union Railway Minister Ashwini Vaishnaw and Aparajita Sarangi, the incumbent BJP MP representing Bhubaneswar seat. Both the leaders, Vaishnaw and Sarangi, are 1994-batch Indian Administrative Services (IAS) officers who joined the BJP to pursue political careers, much like Arun, who joined the party ahead of UP assembly elections last month. Kannauj, considered a Samajwadi Party (SP) stronghold, is going to polls in phase three of UP polls on February 20. Arun had taken to Twitter to announce his VRS from the post of Kanpur Police Commissioner with nine years of service left.