Motilal Oswal Ventures Capital Advisors on Tuesday said its 125-million-dollars private equity fund -India Business Excellence Fund- plans to invest in 10-12 companies by this year-end.
“We are close to sealing a few transactions within the next few weeks,” a Motilal Oswal Venture Capital Advisors Pvt Ltd (MOVCAPL) official told PTI here.
The company was already evaluating various companies in which to pump in investment and “by end-this year, we hope to complete investments in about a dozen companies,” the official said.
The 125-million-dollar growth stage fund which achieved its final closing in December last, invests across sectors except in retail and real estate.
“We are sector-agnostic and typically invest in the range of 5-15 million dollars and primarily in unlisted companies,” he said.
The company has so far invested in four companies– Time Technoplast (before it went public), Effort BPO, RT Outsourcing and IMP Powers.
“Of this, IMP Powers is a listed company, but we invested here because we found it a great turn-around story and had a good track-record,” he said.
The fund has now invested in Rajasthan-based non-banking finance company, AU Financiers (India), which provides finance to rural and semi-urban areas in the state.
“Our investment in AU Financiers is in the form of equity-linked instrument–at a later stage, it will get converted into equity shares,” the official said, without disclosing the amount invested.
Source: Economic Times